São Bernardo, Brazil.Wal-Mart Stores Inc. is finding
out that what plays in Peoria isn’t necessarily a hit in
suburban São Paulo.
Tanks of live trout are out; sushi is in. American
footballs have been replaced by soccer balls. The fixings
for feijoada, a medley of beef and pork in black
bean stew, are now displayed on the deli counter.
American-style jeans priced at $19.99 have been
dropped in favor of $9.99 knock-offs.
But adapting to local tastes may have been the
easy part. Three years after embarking on a blitz to
bring “everyday low prices” to the emerging markets
of Brazil and Argentina, Wal-Mart is finding the
going tougher than expected.
Brutal competition, markets that don’t play to WalMart’s
ability to achieve efficiency through economies
of scale, and some of its own mistakes have produced
red ink. Moreover, the company’s insistence on doing
things “the Wal-Mart way” has apparently alienated
some local suppliers and employees.
São Bernardo, Brazil.Wal-Mart Stores Inc. is finding
out that what plays in Peoria isn’t necessarily a hit in
suburban São Paulo.
Tanks of live trout are out; sushi is in. American
footballs have been replaced by soccer balls. The fixings
for feijoada, a medley of beef and pork in black
bean stew, are now displayed on the deli counter.
American-style jeans priced at $19.99 have been
dropped in favor of $9.99 knock-offs.
But adapting to local tastes may have been the
easy part. Three years after embarking on a blitz to
bring “everyday low prices” to the emerging markets
of Brazil and Argentina, Wal-Mart is finding the
going tougher than expected.
Brutal competition, markets that don’t play to WalMart’s
ability to achieve efficiency through economies
of scale, and some of its own mistakes have produced
red ink. Moreover, the company’s insistence on doing
things “the Wal-Mart way” has apparently alienated
some local suppliers and employees.
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