"They already perceive that business in Buenos Aires and Greater Buenos Aires has reached its saturation point. That's why I have no doubt that they're already looking at what other industry to turn to," Guida notes.
Both Lin, Zheng, and Wang are exploring new possibilities. Perhaps they'll become wholesalers or grow their own products. Perhaps they'll go into something completely different, like the construction industry. The truth is, they won't stay put until they discover another business that's equally successful.
The keys:
THE LOWEST PRICES
They always try to get the best price to maintain their competitive advantage. They maintain a constant search. They don't lock in any supplier or wholesale chain.
MINIMIZED PROFITABILITY
Another important point is high product turnover. They minimize email database profitability as much as possible. According to Calvete, they earn 8% compared to other retailers who earn 10% with their own brands.
TIRELESS WORKERS
The motto is work, work, work. There are extended hours from 8 a.m. to 10 p.m. The example starts at home; the owners themselves and their immediate family members adapt to this arrangement. There is a two-shift system.
90% of stores are rented, they don't spend on advertising, and they have the fewest employees possible per location. According to official data, the average is two people per establishment.