It is nothing unknown that regardless of you being the market leader or not, thorough market research is vital for market expansion investment. Yet, most brands fail to comply with that since they feel something or hear rumblings about a market and then barge in. Limited human resources and lack of sufficient first-party data make the future of foreign investment vague.
Besides the constraints above, a standard conclusion of a market research is made upon the market volume and some macroeconomic variables. However, one must set custom metrics and take into account the country of origin factors. Double checking data from trusted data sources like World Bank, International Trade Center and official statistical institutions and other data providers like Statista and Euromonitor helps you base your assumptions on a sound ground.
While evaluating a market, carefully think your direct and indirect customers! The case might be parents making the final payment but children having huge influence on purchase decision. Hofstede’s study of Cultural Dimension outlines the patterns of thinking in different cultures.
The market leader in baby & toys has reached maturity in the local market and aims to expand into new markets to widen their customer base. We held a deep-dive global marketing research and expansion strategy and planning for the brand. Considering the bureaucratic side of large organizations, we sought to find a solution with the highest agility and the lowest cost as possible.
Shopify is a skeleton. You can power it with apps developed by contributors worldwide. Shopify experts can help you have custom solutions. Choosing an open market is a plus as global ad networks and marketing tools can operate there.
Baby & Parent Products
Market Expansion & Growth
Multiple Datasets, Shopify, Shopify Apps, Google Ads, Facebook Ads