Walmart's Success in Mexico and Failure in Germany: SM4008 Report

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This report analyzes Walmart's global business strategies, focusing on its contrasting experiences in Mexico and Germany. It begins with an overview of Walmart, followed by a PESTLE analysis of both markets, examining political, economic, social, technological, legal, and environmental factors. The report utilizes Porter's Five Forces framework to assess competitive dynamics and explores the market structure, entry modes, and obstacles encountered by Walmart. It highlights how lessons learned from Mexico informed Walmart's decisions. The report provides recommendations for future strategies and concludes by summarizing the key factors contributing to Walmart's success in Mexico and its failure in Germany. The assignment adheres to the requirements of the Global and Transitional Business module, providing a comprehensive market analysis.
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[Global and Transitional Business]
2019
Walmart
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GLOBAL AND TRANSITIONAL BUSINESS
1
Table of Contents
Introduction................................................................................................................................2
Overview of Walmart.............................................................................................................3
PESTLE Analysis...................................................................................................................3
Political Factors..................................................................................................................3
Economic Factors...............................................................................................................4
Social Factors.....................................................................................................................5
Technological Factors........................................................................................................6
Legal Factors......................................................................................................................7
Environmental Factors.......................................................................................................8
Porter Five Force Framework................................................................................................8
Threat of Substitute products.............................................................................................8
Threat of New Entrant........................................................................................................9
Competition among Existing Players.................................................................................9
Power of Buyers...............................................................................................................10
Power of Suppliers...........................................................................................................10
Market Structure...................................................................................................................10
Entry Modes and Obstacles..................................................................................................11
Lessons from Mexico have informed Walmart’s decision to enter Germany.....................12
Recommendation for Future................................................................................................13
Conclusion................................................................................................................................13
References................................................................................................................................15
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Introduction
Those days are gone when organizations used to restrict their operations to the
regional or local areas. With the fast advancement in the technologies and expanding
international trade, organizations are incentivized to vend their services and products in the
international market. This supports businesses operating at the global level to expand their
share in the market, decrease costs, and become more competitive (Peng, 2016). A global
company is the one that at least operates its business in one foreign or outside country other
than its origin country. Even expanding operations in other nation is considered as a great
undertaking. However, it is also a fact that the company that operates successfully in one
country does not necessarily compulsory that it will be successful in other nation. This
happens due to the situation of transition business under which the business has transforms its
strategies and servings according to the environmental factors of the specific country (Bower,
Leonard & Paine, 2011). The changes in the strategies and serving can be rejected by the
customer which also raises hurdles in the existence of the business in that specific market.
This report intends to discuss one of the global company that is Walmart which presently
operates its business in almost all the countries. However, its success in one country does not
define its survival and success in another country. The paper is discussing the success of
Walmart in Mexico which established it as the global force operating in several nations and
its failure in the German market due to which it has to withdraw its business from that
market. The report is providing an analysis of the market structure and competition, market
demand characteristics in two markets in comparison to the US. In addition to this, the paper
is also highlighting the entry modes the company has selected and the hurdles it experienced
in their foreign markets.
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Overview of Walmart
Walmart is one of the famous multinational corporations of America that run a chain
of grocery stores, hypermarkets, and discount department stores. Headquarter of the company
is established in the Bentonville, Arkansas. In the year 1969, the company was established by
Sam Walton. The company is also owned and involved in operating Sam’s Club retail
warehouses. According to the annual report of the company by 31 July 2019, the company
has around 11,389 stores and clubs in 27 nations, running under 55 diverse names (Merriman,
Persky, Davis & Baiman, 2012). In the Canada and United States market, the company
operates its business under the name Walmart, in Mexico and Central America as Walmart de
Mexico y Centroamerica, in the United Kingdom as Asda, and in India as Best Price. The
investment of the company outside the US has been observed to provide mixed results.
Company's subsidiaries and operations in China, Central America, the United Kingdom, and
South America are very successful, but its operations in South Korea and Germany market
have failed (Schuetz, 2015).
PESTLE Analysis
Political Factors
The political forces are considered as most essential for brands like Walmart that are
exerting their efforts to operate successfully at a global level. The global/international
landscape of the business is characterized by diverse political erections and opposing
governance models (Cadle, Paul & Turner, 2014). The governing bodies of every country are
not equally open to international business and trade. In the case of Mexico, the poverty of the
country is influenced by the national and local government. The local government influences
the survival and success of the local businesses. If the government feels that they are being
benefited with the operations of the company they provide incentives and special benefits to
the small as well as large businesses. This practice of the countries local government
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supported Walmart to successfully operate in the country by receiving incentives because the
establishment of the Walmart in the country can offer products to the consumer at reasonable
prices and allow Mexico to be introduced as the growing market among international firms.
On the other side, the political situation of the US is stable and friendly which allow the
company to operate smoothly in the market (Haseeb, 2017).
In the case of Germany, it is said to be the federal, parliamentary and representative
democratic republic. The country is maintaining good alliance relationship with France and
many other nations since 1990 (Gordon, 2018). These alliances have majorly contributed to
making Germany one of the powerful nations of the European Union. In addition to this, the
close relationship of the US with the European Union has allowed several businesses to
establish a business in the Germany market like Walmart. Same like the US, Germany enjoys
a stable political environment which supported Walmart to operate the business in the market
but due to intense competition, the company was unable to survive for a longer duration.
Economic Factors
For organizations running their business at the global level, there is nothing better
than a prosperous global economy. Being a global operator, Walmart deals with different
economic situations, which impacts its performance at a global level. In the case of Mexico,
the nation is placed in the second position as the largest economy in Latin America. Brazil is
placed in the first place. Maximum of the country's economy comes from exporting of
products to the foreign markets. US and Mexico share good relations in terms of trading
which makes the US the second-largest export market for Mexico (De Mello & Moccero,
2011). This bilateral relation of both countries has allowed Walmart to establish successful
operations in the Mexico market and gain the maximum market share.
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In the case of Germany, the country has the fourth-largest economy across the world,
which offers several growth opportunities to the business but results in increasing the
intensity of competition (Matthijs & Blyth, 2011). Besides this, the country has 3.1% as the
unemployment rate which is considered to be lowest across the world (Trading Economics,
2019a). The US also enjoys a low unemployment rate with 3.7% as of July 2019 (Trading
Economics, 2019b). The data of Germany reflects that the purchasing power of the customer
in the country is high, but due to the existence of the huge players raising competition for
Walmart, the company was unable to continue in the same market for a longer period.
Social Factors
Social forces are also considered as an essential force that can affect business
profitability in the international market. Social trends affect the customer’s purchasing
behavior which in turn influences the profitability of the brands (Kolios & Read, 2013). In
the case of Mexico, the country is majorly the Spanish-speaking nation with more than half of
the population living in urban areas. The middle class of the country is increasing which
allow businesses to target a maximum number of customers by offering products at
reasonable prices. The increasing middle class and demand for the products offered by the
company, has allowed Walmart to succeed and survive in the market by gaining the increased
market share. In addition to this, due to social factors issues such as attitude and trust of the
customer over a specific retailer, the Walmart adopted joint venture with the Cifra which is
one of the largest retailers of Mexico, to get the operational expertise (Mun & Yazdanifard,
2012). In comparison to this, in the United States market, the customer prefers to purchase
daily need products in bulk in a single visit. Hence, to target this segment of the customer
company design different offers and discount to encourage them to make a bulk purchase
from Walmart.
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In the case of Germany, the failure of Walmart was also due to the social-cultural
issues which were not initially considered to be the major factor by the management of the
company. As per the decision of executives, the company was started operating from its UK
offices due to which the corporate language for the business even in Germany was English.
But, several managers of the company in the market of Germany does not speak in the
English language (Roberts & Liszka, 2013). This resulted in most of the time breakdown of
communication. Few of the managers of the store that was acquired left after the acquisition
by Walmart. As an outcome, several suppliers like Nike, Adidas, etc., rejected to continue to
work for Wal-Mart as the supplier. This not just resulted in losing the key suppliers, it also
lost the main range of products. On the other side, in comparison to the United States,
English is considered to be the first corporate language that is preferred by almost every
supplier and manager. This has allowed Walmart to smoothly operate the business in the
market without any type of communication barrier.
Technological Factors
Technological factor has emerged as an essential part of every business in today's era.
Whether the business runs over an offline platform or online platform from finance to
marketing and human resource in all the department's technology has performed a major role.
Therefore, technology is essential for Walmart too. Mexico and the United States share the
border, due to which it becomes very easy for the businesses to transport products from one
country to another. In addition to this, technology has allowed citizens to find new jobs in the
nation due to the increasing use of the internet in both nations (Vargas, 2018). The fast
development of technology and telecommunication sector has allowed Walmart to expand
effectively in the Mexican market and is easily able to transport products from the US to
Mexico with the use of Technology. This has resulted in making a strong base for the
company in the retail market of Mexico.
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In consideration of technology, Germany allows best and advanced technology to the
businesses operating in the country. Many people recognize Germany for the World Cup
Football Champion and the top vehicle manufacturing country. But, many people are not
aware that Germany is placed at fifth position in terms of having advanced technology across
the world (Shin, 2013). On the other side, the USA is considered as the global leader in terms
of technology as well as science. The country is forefront in terms of adopting and applying
technologies in different fields.
Legal Factors
There are several laws that must be adhered by the brands that operate in the retail
industry. Noncompliance could result in the negative image and financial losses for the
business in the short term as well as long term. In the retail market of Mexico, the exporting
and importing of the retail and manufacturing of products is easy for the business due to
leverages allowed by the government in terms of subsidies, taxes, etc. (Sbragia, 2010).
Besides this, good trade relation of Mexico with the United States has allowed Walmart to
operate smoothly in the country with limited trade and customs duties. Moreover, the legal
framework in the Germany market is the same for domestic companies and international
companies related to the investment for establishing business operations in the country. In
addition to this, the government of the country allow and invite international firms to
establish their operations. The bilateral relation of the United States with Germany has
allowed Walmart to expand operations in this market. The United Nation has strict laws
related to prevent exploitation of labor, low wages, etc. Most of the time the lawsuits against
Walmart is related to the labor laws. But, now the company gives importance to maintaining
positive work condition for employees.
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Environmental Factors
Sustainability is a very important concern for businesses at a global level. In the field
of the retail industry, involved businesses have to concentrate on waste management,
packaging, as well as energy consumption (Jia, Govindan, Choi & Rajendran, 2015). In the
Mexican retail market, sustainability and environmental safety are considered as major aspect
due to increase pollution due to business operations. Further, Germany is considered to be the
top tourist location across the world. But, in spite of this, Germany deals with environmental
challenges such as global warming. Air pollution, damaging forests, water pollution, etc. are
some of the other challenges that are being faced due to increasing tourism and business
activities. On the other hand, the United States is also observed to deal with the issues related
to uneven weather conditions. To deal with these issues, Walmart has arranged well-equipped
warehouses for the maintenance of its stock.
Porter Five Force Framework
Threat of Substitute products
The threat of substitute products is considered to be threatening when customers can
simply get substitute products by offering quality products at attractive prices to switch from
one service to another (Dobbs, 2014). The retail industry is comprised of several retailers
who provide a similar type of products with different packaging. However, the retail market
of Mexico is comprised of a limited number of big retailers who can provide substitute
products to the customer which makes the substitute product force low to moderate for the
Walmart. Same like the Mexico market, the threat of substitute product in the Germany
market is low to moderate which allow the company to grab the customers by offering a
variety of products.
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Threat of New Entrant
The threat of new entrant force defines the level of difficulty the new player deals
with to take entry in the specific market. The government of US has allowed the business to
take entry in the market to operate however considering the requirement of high investment
in the retail industry to compete with the huge players which makes it the huge entry barrier
(Judovskiy, 2016). This reflects that the entry barrier in the US retail industry is low. Besides
this, the existence of huge players like Walmart and Aldi in the Mexico and Germany market
has restricted the entry of new players. This results in making low threat from new entrants
for the existing players.
Competition among Existing Players
The competitive force defines the intensity of the competition and profitability in the
specific industry. In the industry, with intense competition, the business has to struggle for
maintaining market share which results in reducing the profit margin for the businesses. The
United States retail market, Walmart is involved in the cut-throat competition from different
supermarkets and retail chains like Dollar Tree Inc., Sears Holdings Corporation, Costco
Wholesale Corporation, Target Corporation, etc. (Patil, Shrotri & Dandekar, 2012). To stand
strong in the market, the company is majorly involved in aggressive promotions of the quality
products offered at reasonable prices. The cost-cutting strategy of the company has supported
it in gaining the increased market share.
On the other side, the retail market of Mexico is comprised of a limited number of key
players who offer quality products at a reasonable price, this support Walmart in surviving in
the market. Further, the retail industry of Germany raised intense competition for Walmart
which resulted in the withdrawal of the market. Aldi is the key competitor of Walmart in the
Germany market who is involved in offering low-cost products to the customer (Yoder, S.,
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Visich & Rustambekov, 2016). Due to high losses in the market company planned to exit
from the market.
Power of Buyers
The customers in the market hold the power to demand low-cost products or high-
quality products from the producers in the specific industry when they have a strong power of
bargaining (Pringle & Huisman, 2011). Offering products at low prices reflects that the
revenue for the producer is low, whereas offering high-quality products result in increasing
the cost of production. In the case of the retail industry of the United States, Mexico, and
Germany the bargaining power of the customer is high due to the availability of different
players that can offer a similar type of products. Hence, to survive in the US and Mexico, the
company has adopted a cost-cutting strategy and aggressive promotion. But, in the Germany
company failed to survive with its aggressive promotion and cost-cutting strategy due to the
low-cost strategy of Aldi (Jui, 2011).
Power of Suppliers
The strong power of bargaining enables suppliers to vend high price or low-quality
products to the buyer. This impacts the profit margin of the buying firm because it has to pay
more to the supplier. In the case of the retail industry, the bargaining power of supplier is low
due to the availability of several players in all the markets.
Market Structure
Market structure is determined as the pattern that is adopted by the business to serve
its customers in a specific industry. Four types of market structure are generally adopted by
the business to operate in a specific industry that is Monopolistic, Monopoly, Oligopoly, and
Perfect Competition (Kim & Reinschmidt, 2011). In consideration to the retail industry,
Walmart has adopted Oligopoly market structure in the US, Mexico, and Germany market.
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The Oligopoly market structure is characterized by the existence of a few suppliers in the
market (Bagnoli & Watts, 2010). In the United States market, the few players in the retail
market other than Walmart are Costco and Target, in Mexico Costco and Casa Ley, and
Germany Aldi. In the US and Mexico market, the company is successfully able to compete
effectively and maintaining its market share. However, in the Germany market, Walmart was
unable to maintain its share due to intense competition from Aldi.
Entry Modes and Obstacles
The market entry modes vary in terms of the level of risk present in a specific market,
required commitment and control of resources and the return of investment. There are
different types of modes that are selected by the company to take entry in the market. The
entry modes that has been selected by Walmart to take entry in Mexico and Germany are
discussed below:
Mexico – In the Mexico market, Walmart selected a different route in comparison to
other successful markets because the company was dealing with some issues such as changes
in the income level of the people and cultural differences between the Mexico and United
States which were very important for the company learn and according to which it has to
tailor its operations, to set up the business as per the requirement of the local market (Landler
& Barbaro, 2006). Hence, to gain the knowledge of the preference and culture difference
between the US and Mexico the company selected Joint Venture as the market entry strategy.
The company came under a joint venture with the Cifra which is the largest retailer of
Mexico. The joint venture supported the company in gaining the operations expertise for the
market of Mexico (Hawkins & Andrew, 2011). The enormous success of Walmart in the
Mexican market is the outcome of its Joint Venture with Cifra.
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Germany – In the Germany market, the market entry strategy that was adopted by
Walmart was Acquisition. In the year 1997, Walmart acquired the chain of Wertkauf’s
hypermarket with its 21 stores, known as the most profitable business in the nation, from
Germany' Mann family. The company knew that establishing new hypermarkets in the
Germany market will be tough as well as a wrong decision because the European market is
mature and the austere zoning laws prohibiting Greenfield operations. Hence, to expand
operations in Germany, Walmart invested its two precious years identifying possible
acquisitions, comprising Germany’s Metro, Netherlands’ Makro, and Britain’s Tesco. In the
end, the company decided to acquire Wertkauf's stores, because the format of its store was
similar to Wal-Mart's, including high-quality personnel, and was larger in comparison to
normal German hypermarket (Shulyn & Yazdanifard, 2015).
Lessons from Mexico have informed Walmart’s decision to enter Germany
After the successful operations in the United States, the company realized that the
retail market of the US is just 4% of the entire market and the rest 96% market is yet
available (Perason, 2018). Therefore, the company decided to put setup forward to cover the
global market. In the initial phase after the detailed analysis, the company decided to expand
in the Mexico market through a joint venture with one of the leading retailer of the market
that is Cifra. As discussed above due to some cultural differences company decided to adopt
joint venture and due to the goodwill of Cifra supported the company in gaining the trust of
the customer in the market. The increased growth and huge success of Walmart in Mexico
encouraged the management of the company to plan to expand in Germany. However,
adopting acquisition to enter in the Germany market resulted in the negative outcome for the
company. The acquisition resulted in increased existing employee turnover of the Wertkauf’s
hypermarket and the issue of language barriers.
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Recommendation for Future
From the above analysis, it has been identified that Walmart has gained huge success
in the Mexican market but unable to gain the same success has to withdraw its operations
from the Germany market. The main reason behind the failure was competition from Aldi the
low-cost product provider. To overcome this issue in the future and compete strongly
Walmart is recommended to adopt the strategy of offering private labeled products to the
customers at low prices. Offering private labeled product will support the company in gaining
the trust of the customer because Walmart has a good image in the market and known for
offering quality products.
In consideration to the market entry strategy, in the future, the company must go with
the Joint Venture entry mode as it will allow it to first gather the important information of the
market related to customer behavior, attitude, etc. In addition to this, venturing with one of
the known retailers of the Germany market will allow it to gain the trust of the customers.
Conclusion
The above report has provided a detailed analysis and evaluation of the strategies that
are adopted by Walmart to take entry in the Mexican and Germany market. From the
analysis, it has been identified that Walmart is one of the leading market retailers in the
United States and Mexican market; however, it failed in the Germany market due to which it
had to withdraw its operations from the market. The political and economic condition of all
the three market is supportive for the international firms to operate business however the
intensity of the competition in the Germany market is high due to which it failed to survive.
Further, the market entry strategy differs according to the market condition of Mexico and
Germany. Adopting Joint venture for Mexico resulted in the success of the business but the
acquisition has failed in Germany. For the future, the report has recommended a company to
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offer private labeled products to compete with Aldi and adopt joint venture as the market
entry strategy.
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