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Quiktrip in Emerging Markets

In: Business and Management

Submitted By TexasSnake
Words 4518
Pages 19
3/4/14
Business in Global Environments
QuikTrip in China
Many countries in Asia have seen tremendous economic growth since the 1990’s. One country in particular stands out above the rest: China. The economy of China is the fastest growing consumer market in the world. It has also grown into the world’s second largest economy by nominal GDP and purchasing power parity behind only the United States. This tremendous growth has created millions of jobs in China and has transformed one of the poorest nations into one of the wealthiest. China is also the world’s largest country with over one billion people. The Chinese people are flocking to massive cities such as Shanghai and Beijing to take advantage of all the new jobs. This large growth in major cities along with an increase in jobs has created a huge demand for products the Chinese can now afford. Foreign companies have taken advantage of this growth and have moved into China to begin selling their products. Nike, Apple, IBM, Microsoft, and many others have increased their profits enormously since establishing themselves in China. The great demand in China has even attracting small businesses to explore the option of selling their product there. One company that would do well in China is QuikTrip. QuikTrip or QT is a Tulsa, Oklahoma based chain of convenience stores. Its locations are primarily found in the Midwestern and Southern states. QT grows annually and currently has 678 locations in the Continental United States. QT locations are larger than most other convenience stores. They offer up to 30 gas pumps and a large retail space inside. QT locations would thrive in large Chinese cities because they offer the customer a large assortment of beverages and food in short period of time. Also, the amount of gas pumps offered at QT locations would be able to accommodate the large number of new car owners in China....

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