Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/74664
THE COMMON AREA Small markets draw more global retailers While the world's largest developing markets, particularly Brazil, Russia, India and China, still entice the larg- est global retailers and show no signs of slowing, many smaller markets are offering new growth opportunities, according to A.T. Kearney. Brazil re- mains the safest bet for retailers seek- ing international expansion, ranking first on A.T. Kearney's index for the second year in a row. But Georgia came in at No. 6, Oman is eighth, Mongolia is ninth, and Azerbaijan ranked No.17. Perhaps most signifi- cant, first-timer Botswana placed at No. 20, signaling regional growth and Africa's future potential as a significant consumer market, says Michael Moriarty, the A.T. Kearney partner who led the study. These smaller markets boast strong fundamentals that appeal to retailers target- ing a concentra- tion of wealth and seeking WALMART INTERNATIONAL ASSOCIATES FROM BRAZIL CHEER BEFORE AN INTERNATIONAL ASSOCIATES MEETING IN FAYETTEVILLE, ARK. to be first movers, Moriarty says. "Given the accelerated growth rates of developing countries compared to the anemic growth in European and North American markets, global retailers must have a strategy for expansion into developing markets," he wrote. "In the past five years, U.S.-based Wal-Mart, France-based Carrefour, U.K.-based Tesco and Macy's goes talent shopping Macy's, Inc. has ramped up its recruitment of young talent in anticipation of a market-share battle against J.C. Penney. Macy's hired about 1,000 students from U.S. colleges and universities this year for slots in its executive-development program and for summer in- ternships. The hires include 730 college graduates for the full-time, entry-level, executive develop- ment positions. Some 300 juniors and seniors, too, joined Macy's and Bloomingdale's as interns. These hires represent an increase of nearly 30 percent over last year. "For decades, our company has Germany-based Metro Group saw their revenues in developing coun- tries grow 2.5 times faster than their home markets." The Kearney index, created in 2002, ranks the top 30 develop- ing countries for retail investment worldwide. The gauge analyzes 25 macroeconomic and retail-specific variables. been known as the training ground for the most im- pressive talent in the retailing industry," said Terry J. Lundgren, Macy's chairman, president and CEO, in a prepared statement. "That legacy continues today, not only in recruiting outstanding college students with a wide range of backgrounds and perspectives, but in developing their talent and skills at every step along their career paths. We pride ourselves on managing our business with passionate, well-rounded executives who are able to make deci- sions centered on customer needs and preferences. This approach to talent is vital as we continue to develop the culture of growth in our company and sharpen our strategies and execution as the omnichannel fashion retailer of choice." AUGUST 2012 / SCT 9