There is great potential to be found in the international trade of beverages. Beverage market segmentation and export analysis are essential tasks, particularly at present, in an increasingly globalised world. With the increasing demand for unique and quality beverages and the greater access enabled by increasing globalisation, it is possible to benefit from acquiring the right expertise and information to be successful in the exports business. The following guidelines are intended to help exporters get the most out of their venture.
step 1: Research Trends in the Local Beverage Markets
Researching food data trends across regions and sectors is important for those looking to enter the international beverage export market. Understanding the local industry in your target countries and analysing the different consumer tastes is essential in shaping product selection and customisation to suit the market. You should also research the competition in those markets. This will give you an idea of the most profitable products, as well as the prices that those products can be sold for.
step 2: Find a Distributor in the Target Country
The next step is to connect with a distributor or broker based in the target country. This could be a wholesaler, importer, or retailer. These partners will be responsible for getting your products into stores and helping to build brand recognition and customer loyalty. Be sure to do your due diligence and select a reliable partner who understands the beverage trade market in the target country.
step 3: Develop an Online Strategy
Having a strong online presence is essential in today’s era of globalised trade. Local competitors will likely have a strong presence in the target markets, so it’s important to ensure that your brand and products are visible to potential customers. Developing a web presence, as well as partnering with key influencers in the target markets can help to drive sales and brand awareness for your product. It is also important to engage with customers on social media and build relationships with key buyers in order to understand their needs and preferences.
step 4: Utilise Data Analysis Tools
Having a comprehensive understanding of the local foodservice market and data-driven insights will help beverage exporters make sound business decisions and develop successful strategies. Utilising data enrichment and analytics tools like Brizo can assist in making informed decisions about where and how to target potential buyers and understanding menu trends and monitoring your product’s performance.
step 5: Monitor International Regulations
When exporting beverages to a new market, it is important to be aware of international regulations and do the research to ensure that you are in compliance. This includes factors such as labelling laws, requirements for certain compounds in beverages, ingredient restrictions, and limits to imports and exports. It is important to ensure that your products do not violate any international regulations and that you are able to move them across borders without issue.
step 6: Invest in Quality Control
Investing in quality control systems and conducting regular checks on your exports is essential in creating a good reputation in the market and building customer loyalty. Ensuring the quality of your product is key, and making sure that each batch meets the required standards is an essential part of running a successful beverage export business.
Exporting beverages is a potentially lucrative business, however, in order to be successful, you have to be knowledgeable of the local market trends and willing to invest in the right tools to give you the competitive edge in the international beverage trade. Thinking strategically about how to build a brand and capture market share in your target countries is essential, and investing in the right technology and data tools can give you the necessary insight to make informed decisions.
