Profile of the Store A.C. Moore
November 4, 2012
A.C. Moore, headquartered in Berlin, New Jersey, is a specialty retailer offering a vast selection of arts, crafts and floral merchandise. The stores are located in a dozen states up and down the East Coast. Originally opened in 1985, A.C. Moore has grown to 135 stores with $448.058 million in revenue in 20101. The major competitors include Jo-Ann Stores, headquartered in Hudson, Ohio, with over 790 stores in 49 states2, Hobby Lobby, headquartered in Oklahoma City, Oklahoma, with 524 stores in 48 states3, and Michaels, headquartered in Irving, Texas, with more than 1,000 stores in 48 states and Canada4. We feel that the Singapore market is the best market for entry with the information we have collected and analyzed. Appendix 1 shows the possible indicators we felt we should look for when deciding which market to enter. Appendix 2 shows the indicators in our final decision. Appendix 3 shows the MPI for each country. Appendix 4 shows the pared down list of potential markets. Appendix 55 shows the top markets for potential arts and crafts entry. Two countries overlapped between Appendices 4 and 5, but due to the overwhelming indicators of a growing economy, the little to no competition within country, and the ease of doing business ranking, we chose to propose a Singapore entry. Just as important to any business looking to move abroad is the mode of entry. Senior management at SBARS Inc., the new owner of A.C. Moore, has worked throughout the world to help improve the plights of those less privileged and has seen the need for arts and crafts stores throughout the world6. In order to succeed in today’s global marketplace, a company must be able to quickly identify and exploit opportunities wherever they occur, domestically or internationally7. As such, managers must fully understand why, how and where they intend to do business, now and over time8. The goal of international strategy is to achieve and maintain and unique and
A.C. Moore, headquartered in Berlin, New Jersey, is a specialty retailer offering a vast selection of arts, crafts and floral merchandise. The stores are located in a dozen states up and down the East Coast. Originally opened in 1985, A.C. Moore has grown to 135 stores with $448.058 million in revenue in 20101. The major competitors include Jo-Ann Stores, headquartered in Hudson, Ohio, with over 790 stores in 49 states2, Hobby Lobby, headquartered in Oklahoma City, Oklahoma, with 524 stores in 48 states3, and Michaels, headquartered in Irving, Texas, with more than 1,000 stores in 48 states and Canada4. We feel that the Singapore market is the best market for entry with the information we have collected and analyzed. Appendix 1 shows the possible indicators we felt we should look for when deciding which market to enter. Appendix 2 shows the indicators in our final decision. Appendix 3 shows the MPI for each country. Appendix 4 shows the pared down list of potential markets. Appendix 55 shows the top markets for potential arts and crafts entry. Two countries overlapped between Appendices 4 and 5, but due to the overwhelming indicators of a growing economy, the little to no competition within country, and the ease of doing business ranking, we chose to propose a Singapore entry. Just as important to any business looking to move abroad is the mode of entry. Senior management at SBARS Inc., the new owner of A.C. Moore, has worked throughout the world to help improve the plights of those less privileged and has seen the need for arts and crafts stores throughout the world6. In order to succeed in today’s global marketplace, a company must be able to quickly identify and exploit opportunities wherever they occur, domestically or internationally7. As such, managers must fully understand why, how and where they intend to do business, now and over time8. The goal of international strategy is to achieve and maintain and unique and