General

The first step of international trade is to understand the trade information of both parties. In the era of Big data, enterprises that can use data well will be more likely to stand out in the fierce competition environment. For foreign trade enterprises, foreign trade customs data is one of the most valuable data, allowing them to gain a deeper understanding of their market conditions from multiple dimensions such as the market, buyers, and peers.

Today we will learn about 'What is customs data'!

Customs data has a long history. In 1966, the United States became the world's first to publicly disclose foreign trade data worldwide. Since then, foreign trade data has gradually been applied to international trade, financial loans, international logistics and other fields, improving the efficiency of international trade and the accuracy of international investment, and promoting the development of trade among countries.

After China's reform and opening up, the scale of trade continued to expand, and foreign trade authority gradually shifted from state-owned foreign trade enterprises to general enterprises and private enterprises. More and more people began to participate in the wave of foreign trade transactions, and the problem of information asymmetry between suppliers and purchasers gradually emerged. The blockage of foreign trade transaction information caused many foreign traders to seek open foreign trade data sources. In the 1990s, China began to introduce foreign trade transaction data, Afterwards, service providers gradually joined the service industry of foreign trade data.

The Commercial Value of Customs Data

Many people believe that foreign trade transaction data is just an auxiliary tool for foreign trade business, but in fact, it is not. For enterprises, finding target customer information in a short period of time is crucial. Where are their contact information and enterprise information? Waiting for customer inquiries and searching in massive information will inevitably consume a lot of time and energy. In the era of Big data, many enterprises have begun to use customs data to quickly locate their target customers and obtain high foreign trade income. Exploring business opportunities through import and export data is a new way to promote foreign trade transactions, and the use value of customs data has been constantly developed. Specific application scenarios are:

Develop new customers

By querying and analyzing the buyer's transaction information, understand their purchasing products and capabilities, and find the most suitable purchaser for themselves; By combining shipment time, quantity, and other factors, the procurement frequency of the target customer can be analyzed, and the product can be recommended to the buyer through contact information at the best time to improve the success rate of signing orders.

Maintain old customers

By tracking and analyzing existing transaction records, it is possible to monitor customers' latest trade situation, see if they have added purchasing varieties, new suppliers, and other information, grasp potential customer trends in advance, adjust their response strategies, and avoid risks.

Monitor competitors

By tracking the transaction records of buyers, we can understand the shipment information and price changes of similar product suppliers, and track the trade records of competitors throughout the process to grasp the business trends of our peers.

Expand new markets

Global positioning of the product, accurately obtaining the global procurement quantity, price, frequency, etc. of the product; At the same time, we can combine the procurement situation of the target market in recent years to timely discover information about new products and materials, improve product quality, and enhance market competitiveness.

Evaluate trading partners

Identify false inquiries, evaluate customer matching, understand the true situation of customers, procurement products, procurement cycles, procurement prices, etc., respond to customers' inquiries in a targeted manner, and improve the conversion rate of inquiries.