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Thursday, March 13, 2014

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'Off'-Target Canadian Earnings Points to Lack of Research by Corporation, says Business Coach

E d monton, AB The American retail Giant, Target Corp., has just posted their earningsand on target is a phrase few are likely to attach to the results. Mostincluding Targetexpected their expansion into the Great White North to be a major boon for the company. None expected over a billion in losses. But the news comes as little surprise to business expert Greg Kopchuk, a Master Licensee for ActionCOACH business coaching. Big or small, he sees companies falling into the expansion trap all the time, and Target was no exception. Its natural for successful businesses to look towards expansion when theyve garnered significant traction in their market. They assume that because theyve achieved success locally, that theyre going to automatically get the same welcome anywhere they expand to. But when that welcome isnt forthcoming, Kopchuk says that it usually boils down to one key issue: Part of the reason why Target isnt finding the success they expected comes down to failing to do their research. The company was too quick to swoop in when they saw a perceived opening, he goes on to say: Yes, Zellers left. But when Zellers first opened way back in the 1931 there was no Wal-Mart, no Winners, no Superstoreall companies that directly compete with Target in terms of product and costs. Contrary to what Target believed, there was no real gap for them to fill with Zellers departure. Working with businesses varying in both size and scope, Kopchuk feels Target failed to appreciate differences between operations, procedures, and regulation in the US and Canada: Its something I often see with business owners here; they dont understand that branching into another country isnt just about changing your packaging or working in a different currency. The kind of challenges involved in cross-border commerce are enough to derail even the most successful business, if you dont do your homework. Not to mention the fact that Canadian consumers have very different spending habits than do Americans. Greg also cited issues with pricing and both the quality and quantity of products available to consumers in Canadain comparison to Targets American counterpartas contributing to the lack of incentives for customers to return to the new box store. For more information on Greg Kopchuk and ActionCOACH Canada visit www.gregkopchuk.ca -3 0 -

T o b ook a n inte r vie w conta ct Rachel Sentes 604-366-7846 rachel@gal-fridaypublicity.com

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