There’s no question about it — the retail industry is booming around the world. With a projected global industry value higher than $31 billion by 2023, the incentive for retailers to expand internationally is a no-brainer. But there are many factors that brand managers must take into consideration when approaching internationalization, including the level to which they want to blend in with the local culture or stay true to their brand’s elements.
Although standardizing can keep costs down and efficiency up, what does it mean for profitability and brand performance? New research from Michigan State University, Clemson University and California State University is the first to look at how these factors interact and offer practical recommendations to impact retailers’ global marketing strategy.
Read more on the Broad College of Business website.