Market analysis to establish retail textile companies in Colombia
2014 (English)Independent thesis Basic level (degree of Bachelor)
Student thesis
Abstract [en]
The economic crisis in the last few years has made that companies begin to seek for
new market opportunities where they can establish their businesses. Due to the lack
of information and data, Colombia is not well known for Swedish textile companies.
For this reason, in this market analysis, it is intended to give a clear understanding of
the current situation in the Colombian market. Colombia is an emerging country with
many opportunities within the textile sector and some new approaches in the last few
years have facilitated companies to establish in Colombia. The initiatives from
different state and private organizations, has done it easier for doing business.
Based on the data that have been collected from different international organization
sources, has showed that some factors are important to be considered by the
Swedish textile companies when launching in a new market. One of the positive
factors in the Colombian market is the increase in the demand for the retail textile
sector. Increase in the income level is also attractive for companies because people
will be more able to spend in textile products, and the stability that the country is
facing are some positive factors; people will be able to spend money in other
expenses.
The new free trade agreement is an advantage for Swedish companies if they decide
to expand to the Colombian market. Since they don’t have barriers for trade, it will
make it easier for trading between Colombia and Sweden. But because this new
agreement has been signed last year, the results will be visible after some years of
relationship.
The textile sector in Colombia has had an increase in the sales and the consumption
of textile; many international retail companies has established their business in the
Colombian market since this market is becoming even more attractive in Latin
America. However, it is important to determine which target group is going to be
focused on, because there are different social classes in Colombia, and depending of
the target group the demand could be different.
All the mentioned above and more important factors are covered in this thesis work.
There is not a direct answer for our thesis work, however we believe that the
information provided here, will be truly helpful to get a general idea of the current
situation in the retail textile sector in the Colombian market.
Place, publisher, year, edition, pages
University of Borås/School of Engineering , 2014.
Series
Kandidatuppsats
Keywords [en]
Market analysis, Colombia, Marketing, establishing a product, Sweden and Colombia relation
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:hb:diva-17517Local ID: 2320/13317OAI: oai:DiVA.org:hb-17517DiVA, id: diva2:1309426
Note
Abstract: The aim with this thesis work is to make a market analyze for Swedish textile
companies that are planning to expand their businesses to Colombia. There are
some factors and barriers that need to be considered when expanding to new
markets, for this reason, in this thesis particular factors are analyzed.
The new free trade agreement between Colombia and EU will make it easier for
Swedish textile companies to establish in Colombia and import or export from both
countries. Since one of us is from Colombia we know that there are absence of
Swedish textile companies in Colombia, and there is a need for variation in the textile
sector. This new free trade agreement will make this possible.
Sources of information that have been used are based principally from literature and
Internet. To be able to make the market analyze, there are factors that were
considered for example Gross Domestic Product (GDP) and statistics on
unemployment rate. In order to access the different statistics needed, it has been
used different sources and International organizations web pages such as EU and
OECD, which have been helpful to write this thesis and make it faster to find the
information required.
The analyzes has been made by comparing different statistics from Colombia with
Sweden, to see if there is opportunities for Swedish companies to establish
themselves in this new market. Our conclusion is that there are good opportunities
for Swedish textile companies to establish their business in Colombia because of the
increasing demand in the textile sector in the country and the increased income level
amongst the population.
Program: Bachelor of Science with a Major in Industrial Engineering – International Business Engineering
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