Taking advantage of its strong performance in Brazil and Mexico, Wal-Mart has now undertaken the massive task of conquering the rest of Latin America.The company announced that this year, it will open stores in Argentina, Brazil, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Chile and Puerto Rico.
According to Pablo Naranjo, a professor of business at the Adolfo Ibáñez University, income distribution in Latin America has deteriorated a great deal in recent years.
For Wal-Mart to succeed in the region, “It must recognize the differences between consumers in each country, and stop thinking about Latin American culture as a single entity,” Naranjo says. “To achieve that, it will have to rely on the experience of its business partners in each country.”
Source: Latin Business Chronide