“Local” Merchants Need to Think GloballyTheodore Iacobuzio |
Brands of all kinds strive to become increasingly global in their marketing strategies, but you need to look through both tubes on the binoculars to get the true stereoscopic effect. In other words, global needs local, and local needs global.
“Collectively, local brands still account for the overwhelming majority of consumers’ purchases,” said Sarah Quinlan, Senior Vice President of MasterCard Advisors’ market insights vertical, which produces SpendingPulseTM. “Of more than 10,000 brands in a database compiled by Millward Brown, only three percent show up in seven or more countries.”
But when local forgets global, there can be trouble, she said.
Quinlan recently expanded on this theme during a webinar that can be found here.