Expansion Strategy Texere Checklist

Expanding your retail business into international markets can be a game-changer, and Asia presents a world of opportunities. However, embarking on this journey requires a well-crafted and long-term internationalization strategy.

Here are some key aspects to consider before you start your internationalisation:

Market Entry Strategy

A well-defined market entry strategy is crucial for expanding in Asia. It helps choose the right markets and distributors, ensuring accurate brand positioning and long-term growth. In a region with diverse preferences and regulations, this strategy acts as a compass, aiding in navigating complexities. It identifies promising markets aligned with your goals and helps forge partnerships with distributors who understand and promote your brand. Investing in a strong entry strategy lays the foundation for a successful and sustainable Asian expansion, securing your brand's future growth.

Trademark Registration

Protecting your brand is paramount when entering a new market. Trademark registration ensures that your brand identity is secure and cannot be exploited by others. Each Asian market may have its own trademark registration process and regulations. Many brands think that registering an international trademark will protect them globally. This does not apply to Asia and especially China. Consult with local legal experts or agencies to navigate the intricate trademark registration landscape before approaching any distributor.

Pricing and packaging

Conduct thorough market research to understand the pricing dynamics in Asia. Consumers can now access everything online, and if your pricing strategy in Asia is far off from the one of your domestic market, consumers will be put off.  Consider factors such as local consumer preferences, competition, and cost structures.

Packaging is equally critical, especially if your products need to comply with local regulations. Ensure that your product labels meet the legal requirements of the market, including language, safety standards, and product information. This is particularly true for food and beverage brands.

Brand online presence and corporate materials

Make sure your branding is on point and that all your brand materials such as website, corporate presentation, catalogues, line sheets, etc., are translated at least in English by a professional. When pitching your business to new distributors, they will check your social media presence, so ensure you have a good follow and consistency.

Patience for ROI

Entering a new market, especially one as diverse as Asia, requires patience. Distributors are not as available as before and are not keen on investing in your brand unless you are too.  Generating a return on investment may take time, and it's important to set realistic expectations. Cultivating brand loyalty and establishing a foothold in the market can be a gradual process.

Understand that success in a new market is a marathon, not a sprint. Be prepared to weather initial challenges and invest in the long-term growth of your business. Trust in your strategy and remain adaptable as you navigate the unique nuances of your chosen Asian market.

Marketing Investment

Investing in marketing is crucial to gaining traction in your chosen Asian market. Creating a localised strategy is key to introducing the brand. Consider allocating at least 15-20% of your projected sales in the early stages. Building brand awareness and trust takes time, and a strong initial push can yield long-term dividends.

If you require any assistance with the below-mentioned points, don't hesitate to reach out to us for a free consultation at info@texereadvisors.com