General

It is very important to focus on developing foreign trade and finding target international trade markets, which can save time and greatly improve the order completion rate. On the contrary, casting a net everywhere to find customers not only wastes a lot of time and energy, but even if they are found in the end, they may not be able to complete the order due to various mismatched reasons. For new products, positioning the target market is even more important. So, how to choose the target international trade export market?

1、 Examining market capacity and demand

Assessing population, income, consumption habits, and industrial structure can roughly determine the market capacity of each country. However, to gain a deeper understanding of the demand for products in each country, the following methods are also needed:

1. Search engine

By searching through search engines, you can obtain information related to "product capacity". For example, searching for "Dubai Textile Imports" found that the annual trade volume of Middle Eastern fashion and clothing is about 15 billion US dollars, and the scale of Middle Eastern textiles is gradually expanding, with an annual growth rate of about 11%; It is evident that there is a high demand for textiles in the Middle East.

Similarly, targeted search and search based on different industries can find relevant "market demand" information.

2. Google trends

By selecting countries and markets on Google Trends and searching for keywords, you can view the search popularity and trends of the product in various countries and regions. After comparative analysis, you can identify some potential target markets.

3. Customs data

Search for "product keywords or HS codes", and through customs data, you can view the import situation of the product by country within a specific time period, making it easy to identify the "high demand" countries and markets.

The larger the market capacity and demand, the greater the business opportunity, and it is also the most important factor in selecting the target market.

2、 Examining product demand in various markets

There are also differences between products of the same category. Through the above analysis, we can find international trade markets with high demand, but a large market does not necessarily mean it is suitable for development. Because there are also differences between products of the same category, it is possible that there are many differences in the details between the products we export and the products that customers need. These details may be related to local folk culture, religious beliefs, etc., and cannot adapt to the market demand of the country.

So, we need to conduct in-depth investigation on these potential target markets with large capacity to see if the products we export can adapt to the country in terms of society, economy, religion, culture, and emotions.

3、 Analyzing competitors in the market

In a market, we have three types of competitors: local manufacturers; Chinese peer enterprises; Export manufacturers from other countries.

How to obtain information about competitors in a market? Customs data can be used as the best method to analyze international trade markets and competitors.

We can conduct in-depth analysis of the products exported by these three types of competitors to various potential target markets through customs data combined with their websites and search engines, and compare our products. Do we have any advantages? If our export products do not have advantages in quality, price, and details in a certain market, and cannot surpass our competitors through strength changes in the short term, then it is difficult to develop and enter this market.

We need to choose an international trade market where our company's products are highly competitive and the needs of our customers are suitable for our company's conditions as our target market.

4、 Understand the import policies of various markets

In addition to the above three factors, it is also necessary to examine the level of market tariffs, anti-dumping situation, antitrust situation, limited pricing, certification requirements, etc., and try to choose markets with simple import policies as the target market.

If an enterprise wants to develop and grow, it cannot lack analysis and positioning of its target market. The above methods can be referenced and referenced by everyone.