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    Expansion Strategy

    An expansion strategy refers to the processes a brand puts in place to grow its business, customer base, or online presence.

    What Is an Expansion Strategy?

    In the highly competitive commerce world, gaining higher profits typically requires business growth. An expansion strategy is the business’s approach to attaining this growth, such as expanding a customer base, offering more products, improving profit margins, growing brand presence, or obtaining more online or brick-and-mortar commerce locations.

    Businesses take on different expansion strategies depending on their overarching goal. If a business wants to grow its brand presence among its competition, it might focus on developing content across its sales channels that helps differentiate its brand. If they want to grow profit margins, they might adopt software or tools that can help them streamline their operations and gain cost-saving efficiencies.

    An expansion strategy might also look significantly larger, such as a brand acquiring another to gain more real estate in their segment. Regardless of the approach, it’s important for today’s businesses to integrate their expansion strategy into their day-to-day operations.

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