Retail

With the US being considered as one of the world’s biggest economies, the American apparel market is by far the largest in the world. It is 50% bigger than China’s retail segment. In fact, the top global retail companies are largely American.

 

Though there has been a decline in the market brought about by the economic recession, the industry and the market have bounced back. For local and foreign companies wishing to venture into the US retail industry, there are several opportunities available as the market is still growing strong and Americans are among the largest retail spenders.

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Looking at the US retail market, one can easily see that it is comprised of a few primary players which hold more than 35% of market share. These include Walmart, Kroger, Costco, Target and Home Depot at the top. The market is really competitive which makes it challenging for foreign brands to acquire a credible spot. However, foreign brands like H&M, Zara and Ikea have been able to penetrate the market. there is no doubt that the US retail market is attractive.

 

However, there are challenges for new market player entries and the requirements are also high. A foreign brand has to face tough competition against established and well-known brands in the market. It is also important for those who plan to indulge in business in the American retail market to be prepared for the tedious legal process that lies ahead