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| Barbie couldn't make it. Photo: CarrieBee |
By: kekepana.com/blog
Barbie couldn't make it. Photo: CarrieBA couple days back, the Washington Post ranan article about how tough things can be for American retail stores trying to catch on in China. There are some great lessons in the article, which focuses on the demise of Shanghai’s Barbie Store and cutbacks in China plans by Home Depot and Best Buy. To be fair, the article also talks about what other retailers, such as KFC and Walmart, are doing right.
Even more interesting, however, are comments from my friend Mike Sacharski, CEO of Pacific Enterprise Capital. Mike spent 27 years living and working in China – and I am still indebted to him for the Sunday he sacrificed to give me an inside look at Beijing’s empty and not-so-empty shopping malls and then a taste of the overrun auto dealerships. Mike has an expert’s view of retailing in China and the hazards faced by newcomers. Here’s a selection of what he has to say:
