Business strategy to enter the LATAM market: a case study at West Coast Supply Group

Abstract

The phenomenon of globalization is increasing, thereby impacting the way business is conducted. Follow this tendency, the grey market is gaining more relevance and thus shaping the contemporary international market landscape. The trading companies operating on the grey market must consider that the nature of their business requires continuous research and efforts to acquire new clients to ensure the company’s sustainability. Therefore, it is essential to explore new markets, and capitalize on emerging opportunities. This report is the result of a six-months internship at West Coast Supply Group, a Dutch trading company, on the trading team of the Sports&Fashion department. The internship started on the first semester of the master’s degree in international business, starting in October 2022 and ending in March 2023. During the investigation it was possible to be in close contact to the whole project and thus monitor all the processes and gather all relevant information. The purpose of this investigation is to analyze the business strategy of WSCG to enter the Latin American market. This investigation provides deeper insights into this market, facilitating a more thorough comprehension of WCSG's business strategy in the LATAM market and validate its resultant potential to expand its operations to this region. The results of this internship report provide insights on the limitations hindering the start of new partnerships with selected LATAM countries. These findings can serve as valuable inputs for guiding strategic decision-making processes, such as market prioritization and resource allocation. In conclusion, this internship report highlights the promising future for business relations between Europe and LATAM. With the increasing relevance of the grey market, the potential ratification of the EU-Mercosur agreement, and the mutual interest in expanding trade, there are many opportunities for collaboration.