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Why America’s Retailers Like Target Fail Abroad | CNBC Marathon
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June 19, 2023
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28:09Now PlayingFrom Target and McDonald’s to Harley-Davidson, CNBC Marathon explores why some U.S. retailers struggle to make it abroad.
Target’s first and only foray into international markets happened in 2013 in Canada. The retailer opened a total of 133 stores in just over a year. But the expansion didn’t go as planned. By April 2015, Target withdrew from the North American neighbor and closed all locations. Poor real estate decisions, weak leadership, and major SAP systems errors contributed to the company failing in Canada. Target lost $4.1 billion in after-tax losses in just one year as a result of the fallout. The company has no plans to expand internationally anytime soon.
McDonald’s is synonymous with fast-food in many parts of the world, but there is one country where it’s failed to capture national attention. Iceland celebrated the fast-food chain when it entered in 1993, but a global economic collapse during the next 15 years forced McDonald’s to exit the Nordic region.
And Harley-Davidson may be the biggest name in American motorcycles, but the U.S. market is aging and shrinking. India and southeast Asia, with massive and growing markets, offered Harley-Davidson hope. But the legendary maker of big iron ‘hogs’ faces fierce competition in India. In order to succeed, Harley will need to make smaller and cheaper bikes that its most loyal fans might not recognize.
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Why America’s Retailers Like Target Fail Abroad | CNBC Marathon
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