Global Expansion Boosts Profits for Zara Parent Inditex

What can an entrepreneur or small business owner learn from Inditex (owner of Zara), the world's largest clothing retailer? Plenty.

First, Zara delivers new models of clothing to its stores twice a week (lesson: depending on the industry, speed counts).

Second, emerging market consumers will account for sixty percent (60%) of global luxury goods sales in 2020, up from 40 percent in 2009, according to an analyst at Sanford C. Bernstein (lesson: emerging markets are worth a look).

Lastly:

The goal for every luxury company, wherever their clients are, “is to keep people coming back into stores with new products,” analyst Farren said. “That’s what consumers want.”

(Lesson: To get and keep global customers you must continually hit the refresh button on your product and service offerings. Are you?).

Read more here. Related articles here and here.

Posted by: The Global Small Business Blog

Graphic source here.