Introducing Target into Singapore

The global business trends point to international expansions with corporations increasingly turning to emerging markets for new opportunities to grow and create new sources of revenues. While the BRIC countries including Brazil, Russia, India, and China remain at the center of attention from global industries, the surrounding countries in Asia including Japan, South Korea, Malaysia, and Singapore emerge as potential markets because although smaller in size, the surrounding countries with fast growing economy and consumer demand for foreign goods suggest large profit potentials. Considering the increasing trend of going abroad in the retail industry (S&P, 2013), the paper is an analysis of the potential of Singapore as a desirable market for U.S. retail industry by conducting a feasibility analysis of implementing the Target store brand into Singapore. The analysis includes cultural analysis, economic analysis, and market audit as well as competitive market analysis which will, in turn, provide deeper understanding of the existing markets in Singapore; therefore, provided basis for potential market expansion of other domestic business into Singapore