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Eric Schiffer is the CEO of 99 cents, the oldest retail chain in USA that introduced the principle of capped prices. All the items sold by the 99 Cents stores cost less than this sum, and people prefer this store because of this. Eric Schiffer joined the company about 10 years ago, being elected as CEO in 2005. As we are talking about one of the most successful American managers in retail, we can say that the ideas and interpretations of Schiffer are useful resources.

Eric Schiffer works with different companies from around the world, as an important part of the objects sold in the store are imported. Eric Schiffer talks about the international economy with optimism, and even if the financial crash from 2008 affected this industry, the perspectives are great in the future.

The global retail is now influenced by a series of factors. Some of them could be influenced by managers like Eric Schiffer, while others don’t. Retail is a combination of import, export and outsourcing, and for some retail logistic operations, tens of companies are involved. Eric Schiffer states his worries about the socialist and communist economies. While the Chinese communism has proven effective in so many ways, the regime introduced by Hugo Chaves in Venezuela is harming not only for the economy of this country, but also for the rest of the world. Nationalization is a bad concept, as it was proven decades ago, and it seems like some irresponsible governments are trying to introduce those concepts again. With such archaic concepts, it is hard for Schiffer to conduct businesses there.

You might wonder why this country is so important for Schiffer and for an American retailer. Eric does not talk about a country, he talks about principles. The decisions taken by Chaves affect not only Venezuela, but also other South American countries, and as we are talking about a source of cheap goods that can be sold by the 99 cents store, the worries are justified.

It is only a matter of time before the communist regimes would fall, but until then, the American retailers must forget about importing goods from those countries. Brazil and Argentina have a great power now, so they are also raising the prices for the products they export. With so many worries and problems from South America, it seems like the only viable option for Eric Schiffer and his chain remain China and other Asian countries.