INside the Boardroom: CEO of Forward3D & Locaria, Martin McNulty
PerformanceIN checked in with Forward3D and Locaria CEO, Martin McNulty, to find his insights on the value of the South Korean search market. Below is a short excerpt from the article.
South Korea must be your first move into APAC, not China. Obviously from a volume perspective this doesn’t stack up, but expanding a brand into the valuable APAC region is not easy. Logistics are an obvious hurdle, but also the challenge of becoming locally relevant and connected to a population of 1.4 billion in China is a resource intensive gamble.
For a retailer or brand looking to make an astute entrance into this region, South Korea provides an opportunity to enter a growing, mature and internet-savvy economy with one of the highest internet penetration rates globally at a predicted 82.5% for the start of 2014. As a result it allows brands to garner experience and build a profitable model before turning to larger markets.