Global Journey Of Best Buy Is Up To Speed At The Chinese Station
In China
Home Appliances
Chain, in addition to the famous country the United States,
Suning
, The best known and should be considered outside the “monk” Best buy. The fame does not come from its performance in the Chinese market, but its world-class home appliance chain giant halo effect caused by the star. Best Buy opened in Shanghai after two, then quietly entered the Beijing market, its growth rate and extent of the shop, Best Buy in China can be said is facing unprecedented challenges. The Chinese market as a key step to Asia, whether Best Buy made it successful?
Face struggling local counterparts Best Buy
The world’s largest home appliance and electronics retailer Best Buy into the Chinese market nearly two and a half of the time, and to implement the dual-brand in the global business strategy extends to China, holding Five Star stores, but retain its name and identity. And “Five Star” Best Buy into the marriage as the cornerstone of the Asian market, this step is obviously correct. Thus, Best Buy is very eager to copy the old Chinese legend in the U.S. market. The next step in how to get it? From the first Best Buy store in China opened in the past 18 months later, Best Buy only answers. This belated step shows his trip to China’s difficulties and setbacks.
With local counterparts Gome and Suning than 100 different Best Buy’s shop is indeed very slow pace. Indeed, Best Buy’s strategy is the core of deep plowing and Shanghai city. But the present situation is, domestic appliances has begun to realize the current sources in China and secondary urban markets, the monopoly of home appliances sales channels, to corner no doubt fight the expansion of Best Buy China, a major problem. To state the United States, for example, has acquired its Paradise, medium and large local advantages such as home appliance chain enterprises, the number of stores gathered the various cities. Even more frightening is the trend of this expansion is always accompanied by local channel business development. This means that nationwide home appliance chain industry Resources and power division of the territory has been near-complete, Best Buy may not be the next re-integration of the right industry resources. To establish flagship stores in a short time to market expansion from one to the secondary market development goals. As a local giant chain, the network layout to further improve secondary market, Best Buy can hold a candle to the fear. Therefore, the only obstacle in front of Best Buy is a limited resource grab market rate.
Layout to be Qiangqiang hesitatingly dual brand integration
Than outside Best Buy, local home appliance chain, after all, have a geographical, popularity, policy, and many other advantages. Used for the “National American” marketing of the Chinese consumers, foreign brands made I am afraid not only the spice of life dinner. Familiar with “puerile” strategy must also state the United States were carried out in the end the price war, due to competitive pricing policies to high-end for the self-proclaimed Best Buy is concerned it may be more practical choice. But the crux of the matter is that Best Buy currently has only limited market impact of a regional Shanghai only, only giving up two stores in Shanghai for suppliers and has little effect.
Development process from the point of view, Best Buy 20 years of steady expansion path step by step. General business strategy to acquire the target market for the related companies as a breakthrough, and then in-depth local market, with its many years of successful experience of the summary chain to achieve the ultimate in target markets to enhance the scale of this method time-tested in the Canadian market. In fact, Best Buy’s China station remained with the shadow of its global strategy, however, the five-star in the marriage after his trip to China is very regrettable that stalled. First of all, Best Buy lost through the successful acquisition of Five Star and win the opportunity to have tried to leave three or four more distant goal of market expansion. In fact, the original Five Star is the fourth largest home appliance chain enterprises in China’s eight provinces, has 136 stores, this is the Best Buy in China to grow seeds. The regional household appliances scattered across the country resources are of concern. In addition, Best Buy despite holding the five-star, but still no large-scale and China suppliers for the local business firms in China is still between the direct and star. See the world’s largest home appliance retail giant’s brand essence and advanced concepts of this marriage was not because of China’s domestic market acceptance.
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