Janet Hoffman, managing partner of Accenture's retail practice, North America, says that establishing a brand overseas is not for the faint of heart.
CM: What are some of the common mistakes that retailers make when they look to expand globally?
Hoffman: There are probably three things. First of all, they have to be aware that the start-up period is much longer than they traditionally would think it would be. It's much more difficult to get the basic infrastructure established, whether it's payroll, or IT, or HR. There are unique differences within every geography concerning back-office functions that are not core to the business, but they're critical to be able to operate in new environments. So people underestimate the effort associated with that.
