Wal-Mart in Japan
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Code : COM0001
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Region : Japan
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WAL-MART - AN OVERVIEW "We're all working together; that's the secret. And we'll lower the cost of living for everyone, not just in America, but we'll give the world an opportunity to see what it's like to save and have a better lifestyle, a better life for all. We're proud of what we've accomplished; we have just begun", said Sam Walton (1918-1992), founder of Wal-Mart as he accepted the 'Medal of Freedom', the country's highest civilian honour, from President George Bush of US in March 1992... RETAILING LANDSCAPE IN JAPAN In early 2002, when Wal-Mart announced its foray into Japan, the country's economy was mired in recession with spiraling deflation, shrinking consumer spending and cutthroat competition.Before Wal-Mart, many foreign retailers like US based computer maker Gateway, sportswear company Footlocker and food giant Burger King had failed and even big international retailers like Costco and France's Carrefour were witnessing a sluggish progress... WAL-MART - THE JAPANESE CHALLENGE "Wal-Mart is pretty smart. If anybody can figure out how to do retail in other parts of the world, it's them", said Richard Chavez. Wal-Mart remained slow and methodical in its entry into Japan as it wanted to avoid the costlymistakes that it had made while entering too quickly in other countries. It studied the Japanese retail market for four years before its decision to rope in a local partner to enter Japan.... |
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