Trends in Import Export trade

Traditional trading businesses are losing their spots to mediators and sourcing agents.

Reason for this to happen is because direct purchasers (manufacturing plants) are looking to buy from direct source to lower the overall costs incurred and save the money by eliminating out the middlemen
This is particularly strong in developed nations. In European nations, the traditional minor trading businesses are not competitive and viable in the market anymore. Big Hypermarkets and big multinational companies have been pushing them out of the current market.
In the developing nations, this trend is catching up but at a fiery pace. In developing nations, like China or India, their traditional trading businesses are still very essential, because small local factories and medium enterprises may not have the import-export license or required know how to export to the international trade markets.
A person who is planning to start import export trade should know the current market scenario and should be updated with the latest trend.
Now, it is much wiser for new entrepreneurs to start as an import-export agent as various world trade data report are available online. An export-import agent is much more reasonable compared to traditional trading corporations because an agent has very low operational costs.

An import-export agent is very economical in terms of the charges incurred compared to trading organizations as the agent needs fewer resources for overall operations. These two facts are the main causes why agents are pushing trading businesses out of the game in the future of global trade.
For starters, it is sensible to start an import-export business as an agent as they can be more competitive, organized and needs low investment due to lower resource requirements.

Manufacturing Plants and direct buyers prefer working with agents than with trading companies.

A decade back, Manufacturing units and direct suppliers didn’t want to work which was based on commissions. Agents were assumed and considered as scammers during that period, nobody wanted to have business with them. It was more common then, that agents were routinely being tricked and didn’t get their commission fee back. Which is why it is important to learn on how to protect commission fee.

Due to changing markets and trends, factories and buyers are looking to work with agents as they know the agent fee is much lower than a larger trading company.
Also, now the buyers know, that agents are more flexible and they only source suppliers that suits their requirements.
A surge in sourcing agents
The import-export agents are now popularly known as a sourcing agent. A sourcing agent is typically is an individual who charges a one-time fee when he/she sources a right supplier or purchaser to the clients. Sourcing agents were uncommon and were not popular a few years ago, but now the trends are changing.
The easiest way to start as a sourcing agent is to know the current scenario and go through import-export data online to be successful in the import and export trade business.
Online Presence & Digital marketing
A Decade ago, import-export had to chalk out plans to get data through physical meets and trade exhibition visits, Now it has become very important to have an online presence and do digital marketing to enhance trade opportunities around the globe and reach potential customers. Having a presence in the import-export trade database also helps in getting leads and inquiries which helps in increased sales and revenues
Digital channels are cheap and if used efficiently will give a competitive edge over others. Also, it helps an individual to reach the global market in just one click. 

Comments

Post a Comment

Popular posts from this blog

Import & export Market Trends

Image
Online sales are transforming traditional exporting and importing Combined with digital marketing, E-commerce in global trading is growing tremendously. The e-commerce industry has seen the biggest growth ever and online sellers are boosting the market share of such offline giants like Walmart, IKEA, etc. This scenario is similar for export-import agents, the online market overhead costs are remarkably lower than offline shopping centers as an online vendor don’t need cashiers, showroom rent, etc. And above that one can target multiple audiences from a single point. Selling handmade goods online gives the opportunity to sell it to the whole world, without any middlemen. This is a wonderful prospect for people from developing countries like India, Bangladesh, and the Philippines, etc. Years ago, one could only sell big volumes to a trading company or an importer and ship it with large sea containers which were time-consuming and costly. But now, it is even possible to sell o...
Read more

Why to do Import & Export?

Image
Any changing youth or businessman or professional thinks to come in the field of foreign trade or services because of the following points: 1)Earning huge profits :- We will get higher prices for our product or services in foreign countries. So we will earn huge profits. 2)Earning benefits & incentives from the Governments :- In exports we are earning foreign currencies for our Country, so the Government gives different benefits & incentives on the exports. 3) Earning foreign currencies for our Country :- This is a patriotic effect of exports. Our every invoice can bring foreign currency in our Country. Here are ways to make it happen : Select Your Business Anyone starting a business in the 21st century needs to cover certain bases, like creating a website as well as social media channels like Facebook, Twitter, etc Get the basics in order means registering your business and domain name in your headquarters will be located, getting...
Read more

How to find Reliable Import & Export Data providers

Image
Presently, many companies are looking for import and export data connected with various International markets to determine growing opportunities. Yet, Procuring, storing, processing, and taking care of sizable amount of information is a tough job. Many firms look for data providers so that they can concentrate on their primary trading & core operations. These data providers provide all detailed stats associated to Import Export data for trading companies. There are many service providers in the nation and they serve global firms across various marketplace and industries. They provide data in various formats customized as per client needs. Big service providers have online portals where one can download the desired data. The detailed data includes a broad scope of information, such as product info, Custom Duty charges, shipping ports & routes, addresses and contact details of importers & exporters. Getting an apt service provider is also a hard job. There are ...
Read more