Over the last few years, we have seen many Indian companies starting to look at foreign shores in the quest for growth. However, even after extensive planning, many leading brands fail to conquer new markets. Entering overseas markets, therefore, requires a multi-level strategic expansion strategy.
An Indian multinational hospitality chain approached Redseer for a global expansion. We were asked to do competitive analysis and market landscape of the tourism & hospitality industry across the globe.
As a first step, Redseer wanted to understand the gaps in the hospitality industries of many countries and different cultural nuances to figure out how our clients can capitalize on them. It was important to learn about the demand and supply of quality living space outside the country.
For a company focused on providing affordable options to underserved populations, our team wanted to learn about similar opportunities in various countries. To enable this, we undertook a multi-level filtration process based on the number of tourists, and demand for budget hotels, among others.
Insights offered by Redseer helped the client figure out the right markets to venture into. As a result, the company was well-received in the new markets. The data analysis offered by us helped the client get closer to its dream of becoming the largest hotel chain in the world.