Last week, Inditex (the parent company of UK brand Zara and world’s biggest retailer) has suffered from weakening currencies across non-EU countries, turning minor profits year-on-year. Venda’s CEO, Eric Abensur, analyses the company’s move to take advantage of its most successful businesses by expanding both physical stores and moving eCommerce sites into international markets – something he argues all British retailers can learn from.
Whilst Inditex has regrettably fallen victim to weakening currencies across non-euro markets, its move to refurbish existing chains and build additional stores to capitalise on the successes of its most profitable businesses, such as Zara, is an excellent one.
The key piece of the puzzle in regard to internationalisation though is hidden within Inditex’s plans to launch online Zara stores in South Korea and Mexico, a move that acknowledges the considerable 64% of global users that currently browse British eCommerce sites via mobile devices.
By placing equal investment into the expansion of eCommerce websites and implementing new high street offerings where they are needed, Inditex has made a move to provide relevant services to the appropriate marketplaces. By connecting digital and physical offerings, expanding successful operation and planning sensibly, the company is a leading example of how to properly adapt to the ever changing retail landscape.”
By Eric Abensur
CEO
Venda
http://www.venda.com/