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The Accenture Globalization Index starts its second year and shows new trends emerging for fashion, apparel and grocery stores as they push into new markets.
The Accenture Globalization Index analyzes Planet Retail data from nearly 500 of the largest global grocery and non-grocery retailers and examines their entry into new markets. The trends highlighted in this edition of the index are highly topical and showcase how interconnected the world’s retail markets are becoming.
“We have the intriguing sight of different retailers facing off with each other for the first time, albeit via different channels,” said Chris Donnelly, managing director of Accenture’s Retail practice.
Now entering its second year, the index continues to go from strength to strength as a gauge of retailer globalization.
Planet Retail offered its global retail intelligence to facilitate Accenture’s analysis of market entries and their impact on the global retail strategy.
The retailer universe identified by Accenture and Planet Retail encompassed the top retailers by grocery and nonfood sales—a total of 489 retailers. New market entries were 23 in this period (July 16, 2013–October 15, 2013), the second highest number of entries in a quarter.
According to the findings, a number of retailers have entered new markets in Africa during the third quarter, adding to the growing trend of companies seeking North Africa as a market of retail potential, given its close proximity to Europe and the Middle East.
Key findings from this report include:
Fashion and accessories retailers continue to be the main movers using franchising to push into new markets at great speed
Franchising has become a very important entry vehicle across a wide range of countries
Grocers are franchising their private label apparel as stand-alone stores. Department stores are also expanding more successfully through franchising
Read the full results of each report:
Fashion and accessories retailers made up nearly half of all market entries in this period and have been the consistent leader among all retail segments.
Company owned stores top the list of entry vehicles; however, this recent index moved franchising as a close second. Fashion retailers are the main users of the franchise model for international expansion and grocers are also using the franchise model for their stand-alone fashion businesses.
Franchising has been used by retailers to enter 30 different countries during the duration of the index.
November 19, 2013
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