Companies that attempt to expand from their home base into foreign countries must adapt their operations to suit the preferences and peculiarities of each local market. In the “Tea with the Economist” interview shown below, Wal-Mart’s head of China operations provides some insight into how Wal-Mart has adapted the familiar model we are used to in the United States to suit local preferences in China.
According to Mr. Chan, Chinese customers place a much greater emphasis on fresh food selections and many actually visit a Wal-Mart store once or twice per day. Wal-Mart is also considered to be a relatively upscale retailer in China in contrast with the budget conscious image the company has developed in the United States.
For RSS Feed Subscribers, please click on this link for the video.