Graze.com, the direct-to-consumer online retailer of healthy snacks, has compiled a ‘top ten tips’ for other British retailers looking to crack the US market.
Graze bought together nearly 100 representatives from British companies including Charles Tyrwhitt, alcohol retailer Naked Wines and digital printing company Moo.com for a Silicon Valley style knowledge sharing event to exchange their lessons and learnings from launching in America, and the group compiled some handy hints for other British brands looking to move into the US market.
Chief executive Anthony Fletcher presented his top 10 tips for making it stateside – what he wished he’d known before entering the US market:
- Don’t under-price as Americans expect to pay for quality
- Experiment as US consumers have a greater willingness to try new things
- Champion the success of your UK business at home and your Britishness to help recruit the best people
- Manage recruit’s equity expectations; they will get a smaller share of a bigger company
- No need to be based in New York – and outsource early logistical /set up decisions to local agents to save yourself valuable time
- Hire good lawyers given complexity of state-by-state regulation and litigation culture
- Be mindful of the different workplace culture, and employ a strong American HR team
- Be prepared to delve deeper beyond interviews and job references – no-one ever gives a bad one for fear of a law suit
- Order copious business cards and network aggressively, it’s all about getting your name and brand out there
- Hire locally when it comes to devising marketing campaigns – UK quirkiness does not always translate well