Retail is one of the essential parts of any economy. It always requires close contact between wholesalers and retailers. Today’s retailers understand the vast scale of this industry and are trying with an effort that spans many countries and regions to transform themselves into an international retail business.
In this article, we have listed the top 5 international retail businesses for your reference.
What is international retail?
International retailing refers to operating retailing stores in more than one nation. The internationalization of retail operations has two measurements: the business (direct internationalization) and the market (indirect internationalization). Retail internationalization is the exchange of retail operations outside the domestic market. It includes the international exchange of retail concepts, administration skills, innovation and indeed the buying function.
Top 5 international retail business
Amazon, known as the world’s largest online retailer, is also a famous international retailing business. One of the biggest reasons why Amazon is so successful today is because of its wide range of products. If from the beginning, this global retail business only sold books, now Amazon has sold tens of thousands of different items, from cosmetics, clothes, shoes, toys, home appliances to handmade goods, garden tools. In addition, Amazon is an international retail business because the scope that the business exploits is extremely large, not limited to any country or region, but global.
Walmart is an American global retail business that markets and operates as a chain of hypermarkets, large discount retailers, and grocery stores. Walmart is the highest-earning company globally, at nearly half a trillion US dollars per year, and also the most important private employer in the world. In 2020, Walmart’s revenue was nearly $524B, it serves more than 29,000 million customers every week through 11 thousand stores in 28 countries and online stores. Therefore, Walmart is an international retail business ranked in the top.
Walgreens Boots Alliance
Walgreens Boots Alliance is a pharmacy-led multinational health and beauty care group with headquarters in Bern, Switzerland. This is an international retail business in the pharmaceutical sector. The company has a presence in more than 27 countries, including associates and joint ventures. In 2021, the revenue of this retail business reached $134.97B, an impressive figure for the retail industry.
Costco is an international retail business. This is the largest warehouse retailer in the United States with a distinct business strategy, owning more than 400 warehouses nationwide and nearly 200 stores in countries such as Canada, Mexico, the UK, Japan, Thailand, Australia and Korea. This international retail business offers a wide range of goods, including packaged foods and other groceries, automotive supplies, toys, hardware, sporting goods, jewelry, electronics, clothing and other items. In 2021, Costco announced that sales achieved nearly $196B.
Target Corp. (TGT)
Target is an international retailing market, with stores primarily operating in the United States, Canada, and Latin America. This business offers various curated and mixed goods and foods, including perishables, dry groceries, dairy, and frozen items at discounted prices.
Nowadays, maintaining an effective international business is quite difficult, but this is no longer an unanswered question. To run the international retail business well, there needs to be a management connection between places and ConnectPOS is a great tool that can help connect the branches of your international retail business.
Above are some famous global retail businesses which have a very good business performance that you should learn from. Contact us to get support for your business now!