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Executive Report on Strategies in the Netherlands
ICON Group International, June 2007, Pages: 392
How to Strategically Evaluate the Netherlands
Perhaps the most efficient way of evaluating the Netherlands is to consider key dimensions which themselves are composites of multiple factors. Composite portfolio approaches have long been used by strategic planners. The biggest challenge in this approach is to choose the appropriate factors that are the most relevant to international planning. The two measures of greatest relevance are “latent demand” and “market accessibility”. The figure below summarizes the key dimensions and recommendations of such an approach. Using these two composites, one can prioritize all countries of the world. Countries of high latent demand and high relative accessibility (e.g. easier entry for one firm compared to other firms) are given highest priority. The figure below shows two different scenarios. Accessibility is defined as a firm’s ease of entering or supplying from or to a market (the “supply side”), and latent demand is an indicator of the potential in serving from or to the market (the “demand side”).
Framework for Prioritizing Countries
Demand/Market Potential Driven Firm
Relative Accessibility
Accessibility/Supply Averse Firm
Relative Accessibility
In the top figure, the firm is driven by market potential, whereas the bottom figure represents a firm that is driven by costs or by an aversion to difficult markets. This report treats the reader as coming from a “generic firm” approaching the global market - neither a market-driven nor a cost-driven company. Planners must therefore augment this report with their own company-specific factors that might change the priorities.
Latent Demand and Accessibility in the Netherlands
This report provides an extremely detailed overview of factors driving latent demand and accessibility in the Netherlands. Latent demand is largely driven by economic fundamentals. But, latent demand only represents half of the picture. A country may at first sight appear to be attractive due to a high latent demand, but it is often less attractive when one considers at the macro level how easy it might be to serve that entire potential and/or general business risks.
Chapter 2 deals with macro-accessibility. While accessibility will always vary from one company to another for a given country, the following domains are typically considered when evaluating macro-accessibility in the Netherlands:
Openness to Trade in the Netherlands
Openness to Direct Investment in the Netherlands
Local Marketing and Entry Strategy Alternatives
Local Human Resources
Local Risks
Across these domains, a number of not-so-obvious factors can affect accessibility and risk. These are also covered in Chapter 2, which is presented from the perspective of an American firm, though it is equally applicable to most firms entering the Netherlands. This chapter has been authored by local offices of the U.S. Government. I have included a number of edits to clarify the provided information as it relates to the general strategic framework.
In Chapter 3, I summarize the economic potential for the Netherlands over the next five years for hundreds of industries, categories, and products. The goal of this chapter is to report my findings on the real economic potential, or latent demand, represented by the Netherlands when defined as an area of dominant influence. The data presented are the result of various spatial econometric and time-series forecasting models which, for each category presented, are applied to forecast and allocate latent demand across all countries of the world and major distribution centers or centers of dominant influence within each country. This is accomplished knowing that economic fundamentals (e.g. income) generally vary from one country to another within a given country over time. In this chapter, I report the allocation for each category for the Netherlands as an area of dominant influence in Europe and, potentially, the world.
The report concludes with trade indicators for the Netherlands. Often, the amount of trade flowing into and out of a country is a strong indicator of trading partners, trade openness, and related latent demand. Trade indicators are purely statistical in nature. Although international trade is not a direct measure of latent demand, it does provide an indicator of general market conditions with respect to trade flows and trade openness in the Netherlands.
As a whole, this report presents a strategic assessment of the Netherlands by considering an extremely broad set of factors affecting both latent demand and accessibility, as outlined in the following chapters.
MACRO-ACCESSIBILITY IN THE NETHERLANDS
Economic Fundamentals and Dynamics
Dutch economic policy is geared chiefly towards environmentally sustainable economic growth and development by way of fiscal consolidation, labor and product market reforms, economic restructuring, energy conservation, environmental protection, regional development, and other national goals. Successive governments have combined rigorous and stable macroeconomic policy, with wide-ranging structural and regulatory reforms. Sharp cuts in subsidy and social security spending combined with consistent wage moderation, deregulation and privatization of former state-owned companies, and increased competition had helped the Dutch economy to achieve sustained economic and employment growth.
Labor Force
Labor costs in the Netherlands represent a large part of overall production costs. From 1998-2001, labor costs saw a sharp increase resulting chiefly from sharply rising wage costs and lagging productivity. During the same period contract wages rose by an average of 3.25 percent whereas labor productivity growth of 1.2 percent lagged behind. This led average per unit labor costs to rise by 1.9 percent. While an average labor cost increase between 1993 and 1996 remained below the euro zone average by 0.5 percentage point, the labor cost gap with the euro zone between 1989 and 2001 widened to 1.5 percent. The labor cost gap will narrow when attempts to moderate contract wage demands and raise productivity growth will prove successful.
Dynamic Markets
The Netherlands is a country with few natural resources. It therefore has to create wealth primarily by developing and applying knowledge. More than 60,000 researchers work in Dutch companies, universities, and research institutes. Each year, close to five billion euros is spent on research - half of it by companies and a quarter each by universities and research institutes. Dutch researchers produce seven percent of the EU’s scientific publications and hold six percent of its patents. Around 5,000 Dutch companies conduct their own research to develop new products and make production more efficient. The country’s five largest multinationals - Philips, Shell, Akzo Nobel, DSM, and Unilever - are at the forefront of industrial research and development. The Ministry of Economic Affairs actively encourages technological innovation with a wide range of subsidies open to all companies in the Netherlands, regardless of the owners’ nationality. It also encourages the use of new technologies in small and medium-sized companies through a network of 18 Innovation Centers, which provide advice and broker contacts with other companies and research institutes.
Privatization and the Welfare State
The Netherlands leads its continental EU partners in liberalization and privatization in a number of areas, e.g., postal and telecommunication services and public transportation. While liberalization is proceeding on schedule, privatization of former government entities is going less smoothly. Problems encountered with the privatization of public transport (railways), the energy sector (electricity), and the public health sector (hospitals) has led Parliament to question the need and the benefits of accelerated and full privatization of public services.
Although the private sector is the cornerstone of the economy, the Netherlands has an important and vibrant public sector. The government plays a significant role through the permit requirements and regulations pertaining to almost every aspect of economic activity. The government combines a rigorous and stable microeconomic policy with wide-ranging structural and regulatory reforms. Public spending, including social security transfer payments, has fallen to around 42 % of GDP. The government has gradually reduced its role in the economy since the 1980s, and privatization and deregulation continue unabated.
Balance of Payments Issues
With regard to the geographic distribution of Dutch trade, close to 80 percent of exports are destined for the European Union, with a little less than 70 percent of Dutch imports originating from within the European Union. Trade relations with Asia, on the other hand, are relatively small (imports from Asia account for 17 percent of total imports, exports to Asia cover seven percent of total exports).
Political Risks
Economic Relationship with the United States
The Netherlands has a historically close bilateral relationship with the United States, encompassing a full agenda of political, economic, military and social issues. The Dutch are strong proponents of free trade and are allies of the United States in international forums like the World Trade Organization (WTO), the Organization on Security and Cooperation in Europe (OSCE), the International Monetary Fund (IMF), and other multilateral organizations. The Netherlands and the United States also work closely together in NATO and in the United Nations. The Dutch play a decisive role in European political and monetary integration and strongly support keeping EU markets open to Central and Eastern Europe and expanding the European Union eastward.
The Political System
The Netherlands is a constitutional monarchy with a parliamentary form of government. The Monarch (Queen Beatrix) is the titular Head of State. However, the Council of Ministers (the Cabinet) is responsible for government policy. The Ministers, collectively and individually, are responsible to the Parliament, but do not serve in Parliament.
The Dutch Parliament (also known as the “States General”) consists of two houses, the First and Second Chamber. Historically, Dutch Governments have been based on the support of a majority in both houses of parliament. The First Chamber has 75 members who are elected indirectly. The First Chamber can only pass or reject but not amend bills passed by the Second Chamber. The Second Chamber is by far the more important of the two houses. It alone has the right to initiate legislation and amend bills submitted by the Council of Ministers. It shares with the First Chamber the right to question ministers and junior ministers. The Second Chamber consists of 150 members, elected for a four-year term (unless the Government falls prematurely), on the basis of a nationwide system of proportional representation. This means that the members represent the entire country rather than individual districts, as is the case in the United States. Members are normally elected on a party slate, not on a personal basis.
Among the larger political parties are the centrist Christian Democrats (CDA) with 44 seats, the Labor (PvdA) party with 42 seats, the Liberal (read conservative) VVD party with 28 seats, and far-left Socialist Party (SP) with 9 seats and the center-right List Pim Fortuyn (LPF) with 8 seats.
The Christian Democrats have a corporate approach to society while championing family values. Both the Liberal and the List Pim Fortuyn parties are strong advocates of free enterprise and restricted government intervention, as well as law and order. The Labor party has a governmental approach to society and relies on traditional Social Democratic ideas. The smaller political parties include two Protestant parties with orthodox views on ethical questions but left-leaning views on most other issues, as well as two leftist parties representing views ranging from liberal (as understood in the United States) to neo-Marxist. No party could be qualified as either racist or xenophobe.
Marketing Strategies
The Netherlands is a country of 16 million residents in an area approximately the size of Maryland. It is one of the most densely populated countries in the world, with an average of 958 inhabitants per square mile. This compares to 848 inhabitants per square mile for Belgium, 830 for Japan, 613 for the United Kingdom, 583 for Germany, and 70 for the United States. The most densely populated region in the Netherlands is called the Randstad, comprising the key marketing areas of Utrecht, Amsterdam, The Hague, and Rotterdam. The Randstad is compact, homogeneous, and easily accessible.
Areas outside of the Randstad, including the provinces of Gelderland, Noord-Brabant and the northern provinces, have more land available for larger commercial operations. Other benefits include less congestion and the availability of financial incentives at some locations.
Distances in the Netherlands are short: from Groningen, the northernmost major city, to Maastricht, at the southern tip, is 200 miles by road. The distance from Rotterdam to Enschede, located near the German border, is about 120 miles. Transportation is excellent by road, rail, and the numerous canals and rivers. Shipments to any point in the country can reach their destination with ease.
The Dutch are traders by nature. The Netherlands has a variety of experienced importers, sales agents, and distributors well versed in international trade. Importers who purchase for their own account and distribute throughout the country and Europe handle a large portion of the goods. Because of the size, accessibility, and competitive nature of the Dutch market, importers usually insist on an exclusive distributorship. If the importer is a well-qualified and experienced firm, an exclusive distributorship often yields the best results. Wholesalers constitute an important segment of importers doing business in the retail sector. They are the primary source of supplies for small and medium sized retail outlets, which often find it impractical to buy directly from manufacturers who usually require large orders.
Creating a Sales Office
The Netherlands offers extensive public and private sector support for companies looking to invest in the Netherlands and/or establish offices. U.S. Commercial Service staff at the Embassy (www.buyusa.nl) can provide appropriate contacts for interested companies.
The following are the most common forms of incorporation:
Corporation (Naamloze Vennootschap or NV)
Private Company (Besloten Vennootschap met beperkte aansprakelijkheid or BV)
General Partnership (Vennootschap Onder Firma)
Limited Partnership (Commanditaire Vennootschap)
Limited Partnership with Shares (Commanditaire Vennootschap OP Aandelen)
Cooperative (Cooperatie)
Corporation (Naamloze Vennootschap or NV)
Advantages include limited liability for shareholders, entering into contracts, ability to sue (and be sued), and transferability of shares.
Private Company (Besloten Vennootschap met beperkte aansprakelijkheid or BV)
The most common form of business organization. Similar to the NV, but with a more closed character as shown by differences in the legal provisions concerning shares and lack of regulations requiring disclosure of annual accounts. BV shares must be registered, but cannot be sold on the stock market or offered for public subscription. The transfer of shares is restricted. For example, a shareholder may transfer shares only to a very limited category of relatives without the prior approval of the company oversight board established for that purpose without first offering the shares to other existing shareholders. The most important advantage of a BV is the lack of requirement to publish financial reports.
General Partnership (Vennootschap Onder Firma)
In a general partnership, the individuals operate a business under a common name. The partners are the owners and managers of the firm and have unlimited liability. There are no requirements regarding capital or nationality of the partners who may be individuals or commercial entities. The other partners must approve transfer of an interest in the partnership. Upon retirement or leaving the partnership, the partner remains responsible for any liabilities incurred by the firm before retirement or departure.
Limited Partnership (Commanditaire Vennootschap)
A limited partnership is similar to a general partnership except it has two kinds of partners:
One or more general partners who are unconditionally liable for all the firm’s activities
One or more limited partners who are not active in management of the firms and whose liability is limited to their capital contribution.
Limited Partnership with Shares (Commanditaire Vennootschap OP Aandelen)
This is similar to the limited partnership except that transferable shares represent the interests of the limited partners.
Cooperative (Cooperatie)
The cooperative is a special type of entity formed to represent the collective interests of its membership, such as buying or selling, rather than primarily an establishment to make profits for investors. This type of association permits the free entry and exit of its members from the cooperative society. The organization’s name must include the word cooperative (cooperatief) and must give a general indication of its purpose such as a consumer, dairy, or insurance cooperative. The cooperative name must also include the degree of liability its members are exposed t WA, unlimited; BA, limited; or UA, no liability.
Creating a Joint Venture
Joint venture and licensing agreements are commonly used in the Netherlands. The privatization of state-owned companies, including telecommunication and public transport systems, has further stimulated the potential for U.S. firms to enter into joint venture partnerships with Dutch companies.
Agents and Distributors
Many commission agents and brokers in the Netherlands cover the domestic and European markets. A Dutch representative can often provide an excellent starting point for exporting to other European markets. Dutch firms are adept at handling logistics, linguistics, adaptations, and inventory on behalf of American exporters.
For products with a high sales volume and low profit margin, the Dutch prefer to deal direct with the manufacturer. Sales to a department store, chain store, or end-user often gives best sales results, but in turn, require greater promotional effort by the American exporter. Direct sales eliminate shipping and warehousing expenses, but the U.S. exporter and Dutch importer must handle the shipping formalities and work harder to ensure a successful business relationship.
Since the Netherlands represents a compact market, foreign firms customarily have one exclusive representative for the entire country, but it is common for the representative to appoint subagents to cover certain sectors of the market if sales volume and profit margin warrant this.
Independent retailers form purchasing associations. These associations combine purchasing power and operate their own warehouses, thereby performing a function similar to the wholesaler.
Hiring Local Counsel
While it is important to obtain specific legal advice on appointing an agent or distributor, some general guidelines follow.
All agent agreements should be in writing and state whether it is an exclusive arrangement. Termination of the relationship is the single main area that most frequently causes problems for American exporters. Generally, the civil code protects the interests of the (Dutch) representative. In the absence of termination provisions in a written agreement, the law provides for a minimum notice of termination of four months. Parties may agree to other terms, provided the notice of termination is not less than one month and up to six months, depending on the duration of the agency relationship. An agreement with a definite period terminates on the agreed expiration date. If the parties continue to operate under the agreement after that date, the agreement is usually deemed extended for a further identical period but not for more than a year. If the American principal wants to terminate the relationship, notice of termination should be given, even with definite term contracts.
The termination of an agreement without the required notice makes the principal liable for compensation. The agent could claim the amount of the commissions that would have been earned during the termination period or for the amount of actual damages suffered. In exceptional cases, and only for just cause, such as competition or fraud, an agreement may be terminated without notice provided the other party is immediately advised of the reason. In such cases, the courts may be requested to terminate the contract. At the expiration or termination of an agreement, by whatever means, an agent who has increased the value of the business is entitled in principle, to an adequate remuneration that cannot exceed the average of the commissions in one year. Such claims by agents are subject to an expiration term of one year.
Before entering into any agreement with a partner, the American principal should first review the provisions of Dutch law with a qualified attorney. The legislation regarding unilateral termination of distribution agreements is designed to provide the local distributor with some degree of protection and monetary compensation when the grantor, for reasons other than cause terminates an agreement. The legislation applies regardless of any clause in the agreement itself, and the parties may not deviate from the legislation as long as the distribution agreement is in force.
Three kinds of agreements are generally recognized:
Exclusive distributorships, where the distributor has the sole right to sell specified goods within a defined area.
Quasi-exclusive distributorships, where the distributor sells almost all the specified products within a defined area.
Informal distributor arrangements under which the grantor imposes heavy obligations on the distributor and which would cause damage to the distributorship if the grantor terminated the agreement.
In the absence of mutual agreement, or the failure to meet contract obligations, the grantor without reasonable notice or fair compensation cannot terminate a distribution agreement of indefinite term. In general, grantors should consider protecting themselves by entering into agreements for definite periods rather than an indefinite period. Also, specific minimum performance clauses should be considered, such as percent of distributor’s sales, minimum annual sales, number of business contacts to be made, etc., and proposing that U.S. law and courts have jurisdiction.
Checking Bona Fides of Banks, Agents, Business Partners, Contractors and Subs, and Customers
All companies operating in the Netherlands must register with a local Chamber of Commerce. The trade register is a source of information that is open to everyone. Information includes the name of the owner, who is authorized to sign contracts and who is responsible for financial matters.
Distribution Channel Options
The introduction of products into the Dutch market is relatively uncomplicated and may be achieved using several methods. Product representation throughout the Netherlands is facilitated by the compact market and may be achieved with any of the following distribution methods to cover the entire area, depending on the expected sales volume, product support requirements, and marketing techniques. However, these methods must be applied while being mindful of the advantages a local representative would have in serving the home market:
Establishing a sales office to serve the entire country and provide a distribution base for the rest of Europe.
Selling through an agent or distributor whose activity may cover specified areas, the entire Benelux, or include European sales.
Selling through established wholesalers or dealers.
Selling directly to department stores, retail chains, retail cooperatives, consumer cooperatives, or other purchasing organizations.
Franchising Activities and Direct Marketing
Approximately 380 franchise concepts operate in the Netherlands, with more than 14,000 outlets and annual sales of approximately $11 billion.
There are few regulations governing franchising specifically and none that limit access to the market for U.S. firms. Franchising has gained wide acceptance and Dutch franchise formulas are one of the fastest growing retail phenomena. A number of American franchise companies have succeeded in the Netherlands, particularly in the fast food area. Some U.S. franchise operations in the Netherlands are McDonalds, Pizza Hut, KFC and ERA.
There are numerous well-established sales outlets in the Netherlands. These firms, both at the wholesale and retail level, have traditionally been small units with high overhead. The trend now is for a smaller number of units dealing with a greater volume, and with more competitive prices. Trends in the Netherlands generally mirror those in the United States and other European countries. Nevertheless, the Dutch distribution system is moving toward larger, more economically viable units to meet changing market needs. The increased tempo of commercial and industrial activity, as well as suburban development, is bringing about changes in the distribution system. Wholesalers supply a variety of services to associated small retailers, including sales promotion, advertising, and retail training. In some cases, they combine as a group to purchase from manufacturers and then distribute the goods to their customers.
Mail order sales account for a small part of retail sales. Certain firms have used this technique successfully in combination with their usual retail outlet operation. Promotion is carried out by catalog or by newspaper advertisements with no personal contact. Hobby centers, do it yourself, auto-supply centers, and discount stores also make use of mail order.
Direct marketing in the Netherlands is characterized by the increasing use of infomercials on Dutch television. Infomercials, available on most commercial channels, are broadcast after midnight when airtime is cheap, although some shorter, direct-order advertisements are shown during prime time. Prospects for growth using this method of selling are positive. There are limitations on the amount of time available for infomercials. Suppliers of home entertainment products, fitness items, cosmetics, jewelry, and house wares can best benefit from this emerging retail sector. U.S. firms currently involved in direct marketing include Amway and Tupperware.
Selling Strategies
The European Union Directive 86/653/EEC establishes the obligations and conditions of European agents and their foreign suppliers. The Directive harmonizes the laws and provisions of the member states governing the relations between commercial agents and their principals.
The Directive establishes terms and conditions regarding the respective rights and obligations of the principal and the commercial agent, remuneration of the agent, and the conclusion and termination of the agency contract. To date, implementation of the Directive has been slow, but U.S. firms entering into agency contracts in the European Union should be aware of the principles of the Directive, which can be found at http://www.europa.eu.int/index_en.htm.
On a micro level, the following generalizations can be made about the Dutch consumer:
The Dutch are price sensitive but demand quality.
They are not impulse buyers.
Clever packaging plays a minor role in influencing shoppers.
Advertising tends to be informative and not creative.
The Dutch speak their minds and will not waste your time or their own if they are not interested in your product.
Pricing and Licensing Issues
The Netherlands is an extremely competitive market with high receptivity to U.S. goods. When pricing product for sale in the Netherlands, U.S. exporters should be aware of additional costs that can reduce profit margins below those available in the United States
A value-added tax or VAT of 19 percent is charged on the majority of goods sold in the Netherlands. Imported goods are also subject to customs duty. The costs of transportation, freight forwarding and customs brokerage charges will further diminish margins, as will commissions to agents and distributors. Commissions are generally higher in the Netherlands than in the United States, as are retail profit margins.
As is the case in the United States, pricing of product depends on a myriad of variables including channels of distribution, product, season, consumer receptivity, economic climate, etc.
Advertising and Trade Promotion
In the Netherlands, an estimated $3 billion is spent annually on advertising. In the last couple of years, the Dutch advertising sector has experienced substantial growth in three key areas: radio, television and direct mail advertising. Growth was not confined to higher spending on advertising by national business. A large share of the growth came from an increase in demand and commissions from abroad. Because of the relatively small size of the Dutch domestic market, companies in this sector have traditionally been active in international markets. In the Netherlands, there are over 1,300 independent advertising agencies. Around twenty of these agencies have annual sales of $5 million or more. About 25 percent of the total Dutch market is serviced by American advertising agencies. The Dutch advertising sector is very attractive for American advertising agencies due to the effective advertising concepts the Dutch are able to produce with the aid of technical tools such as graphic design and video technology. Advances in technology allow them to conduct worldwide campaigns from the Netherlands.
The Government strictly enforces laws covering gaming and lotteries as well as restrictive trade practices. Firms advertising and selling goods should obtain local advice regarding provisions of the laws and consumer acceptance of the promotional or marketing approach.
Dutch firms engaged in market research provide the usual range of services, including store audits, consumer surveys, product field-testing, and attitude and motivation research. In general, if the advertising technique works well for a particular product line in the United States and elsewhere in Europe, the Dutch market should also be receptive to the approach, but on a more reserved basis. Local opinion should be obtained before implementing a strategy that calls for a major commitment of the marketing budget.
The names of Dutch advertising agencies, market research organizations, and management and public relations counseling firms can be found in the following publications:
International Directory of Market Research Houses and Services (Green Book)
American Marketing Association
311 South Wacker Drive, Suite 5800
Chicago, IL 60606
Toll Free: (800) AMA-1150
Phone: (312) 542 9000
Fax: (312) 542 9001
Please consult our Web site for additional information at www.buyusa.nl.
The principal advertising media are the press, television, and radio. Cinema is primarily a support medium with a strong reach among the 15 to 24 year old age group.
The following are major Dutch newspapers:
Algemeen Dagblad
P.O. Box 8983
3009 TC Rotterdam
Phone: (31) 10 406 6077
Fax: (31) 10 406 6969
E-mail: ad@ad.nl
Web site: www.ad.nl
National conservative daily
Circulation: 333,000
Het Financieele Dagblad
P.O. Box 216
1000 AE Amsterdam
Phone: (31) 20 592 8888
Fax: (31) 20 592 8800
E-mail: commercie@fd.nl
Web site: www.hfd.nl
National business daily
Circulation: 69,000
De Volkskrant
P.O. Box 1002
1000 BA Amsterdam
Phone: (31) 20 562 9222
Fax: (31) 20 562 6289
E-mail: redactie@volkskrant.nl
Web site: www.volkskrant.nl
National labor oriented daily
Circulation: 335,000
De Telegraaf
P.O. Box 376
1000 EB Amsterdam
Phone: (31) 20 480 2424
Fax: (31) 20 585 4438
E-mail: adverteer@telegraaf.nl
Web site: www.telegraaf.nl
Conservative, sensationalist national daily
Circulation: 808,000
NRC Handelsblad
P.O. Box 8987
3009 TH Rotterdam
Phone: (31) 10 406 6111
Fax: (21) 10 406 6967
E-mail: nrc@nrc.nl
Web site: www.nrc.nl
Influential, independent national evening daily
Circulation: 267,000
Local Trade Fairs
Exhibitions are
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