One of the most common pitfalls of sourcing materials from international suppliers is conducting tedious market research to find top exporters across the world who meet quality requirements.
Due to lack of proper information on market insights, buyers often fail to make the right business decisions that not only affects their profit but also stalls significant business operations.
Unfortunately, not all overseas exporters are what they seem. There are many challenges associated with finding the reliable suppliers/sellers like evaluating the authenticity and legitimacy by effectively filtering out fake/scam
Product flow is dynamic and subject to fluctuations in demand-supply. Uncertainty on product flow due to lack of information on historical transactions can further complicate international trade
Acquiring active importers’ contacts is really hard in international trading market. Lack of information on foreign buyers, makes exporters wary and jittery of expanding their business globally.
In the race to acquire clients and increase sales, many exporters often fail to check the credit score and reliability of importers. They don’t carry out detailed market research to scan the top importers in their region of interest.
Targeting the right international import companies is a time-consuming and labor-intensive exercise that is often undervalued and overlooked by many exporters while performing business opportunity assessment.
Exporters face stiff competition from domestic and global exporters due to lack of information on: trade statistics, product demand, competitive pricing, supply chain trends and evolving buyer behavior.