Riyadh retail
Much has been spoken and written about the globalization of the marketplace in the new millennium. Businesses increasingly do not regard their markets as confined to their community, state or even this country. We must look at our markets as worldwide, if for no other reason than our competition and our customers are looking at these markets, to win in the new world economies.
The press is inclined to get excited about the influence of international trade on the national workforce. That’s a worry, but the old adage that every problem is an opportunity applies quite nicely to this company model. If we as business people can learn to view the worldwide business community as our opportunity to access markets and sources of income that are inconceivable in another market environment, then we can seize a new profitability that can come with success in those areas.
However, conducting business in international markets requires some adjustments in how we set up our contracts and sales and distribution networks. The rich cultures of the Middle East are one of the most explosive marketplaces just beginning to be available to the western corporations. With the expansion of the Dubai projects and the westernization of many of the Middle East cultures it is becoming viable to go retail in Riyadh provided we are prepared to study the culture and how to approach those markets. This should be done taking into consideration the following constraints.Middle East markets are self-protecting. Many nations in the Middle East limit trade to take place solely between businesses in the country. You can around this by teaming up with local businesses that can bring your product in and form a local franchise. The business is still yours and the revenues are yours, but the way you are localized in a Middle East economy is structured to take account of these limits.Middle Eastern marketplaces operate under Islamic Law. There will be some interruption as you will be asked to respect daily prayer and Islamic festivals. So be ready to show respect for these customs. Be attention, too, to the fact that nothing in your product selections refers to other religious beliefs. This is not a timidity in regard to our own culture. It’s simply being smart about how to make a business in an Islamic culture.Internationalize distribution and management. There is a good chance you will not be able to set up a warehouse in the midst of Saudi Arabia with your company name on it. Because of the local bias of the states in which you want to do business, leverage any existing distribution channels that go through Europe or other surrounding countries to pipe your product to the Middle East and turn over ownership, management and distribution of the product within the Middle East to your Arabic partners before the product comes into the country; This cautious setup of your network will pay off in the long term.Middle East: there are friends and adversaries. The perils of recent conflicts have caused many to fear conducting business in the Middle East. But know that the west has more allies in these countries and there is a willingness to join up with us within the more sophisticated economies in the Middle East. Doing business in the Middle East may be secure and profitable, provided you take care in building relationships and use local understanding to shape your commercial operations.
These are critical considerations to examine in determining if it is time for your organization to start marketing your products and services to the wealthy nations of the Middle East. But if the time has come when your business is ready to start laying down those international commerce lines, the outcomes can be very rewarding for your bottom line. If the business structures are built wisely, the effort is worth it.
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