The wrong balance of decision-making speed due to lack of information and integration can affect the financial and moral results of regions.
For a retail company looking for Retail Footprint Expansion solution for its reach, having a clear strategy and focusing on customer growth is critical. However, in addition to the content, the app is equally competitive.
For companies aiming for inorganic growth, determining and evaluating appropriate targets and processes after integration (PMI) is crucial for success. On the other hand, it is important to achieve good financial results for companies that make growth decisions, set the path and engage in daily collaboration, coordination and management to grow their business.
We see three challenges retailers face when implementing and managing their expansion:
(1) First, companies often anticipate the need to be a team and the time for growth. Expansion requires investment, not only money, but also time as well as leadership and team commitment.
(2) Second, most companies do not implement detailed procedures or controls that enable fast and accurate decisions to be made. Often, the information process is instilled in the person, decisions are centralized, and there is a risk of losing skills if they are separated. Choosing a location to open a store is a difficult task because it covers many areas of the company.
(3) Finally, given the number of stakeholders involved in the scaling process, there is often a gap between coordination and communication to ensure visibility for all. Significant expansion areas (business, legal, etc.) are often not addressed on a day-to-day basis, creating redundancies and increasing risk and overflows.