3 reasons why you need to think about exporting your products.
What was once a faraway vision for craft breweries and distilleries is now a practical step on the business growth journey. Access to a variety of local markets means your company can increase its reach and be nimbler in the face of competitors and economic conditions, which will allow you to grow a healthy brand. In today’s online-savvy world, exporting goods to overseas distributors has never been more streamlined than it is now.
We’ve outlined three key factors that play into this, and why you should be thinking about how you can leverage exporting as a tool for your business’ growth.
1. Increase your security against fluctuating market conditions
By diversifying the areas in which you sell, your business remains robust against the vulnerabilities of your local economy. With a portfolio of economies that you trade in, you minimise the risk of being hit badly when one local economy suffers. In 2020, for example, when China banned the importing of Australian wine, the Australian wineries that relied heavily on this market’s business were the ones who took the hit. Your business can be nimble enough to pivot across multiple markets. Put simply, you won’t be putting all your eggs in one basket.
2. Competition is ever rising in an already saturated Australian market.
In other words, brands will have to be even more aggressive in their strategies to gain customer loyalty. In the last ten years alone, we saw 600 new breweries – breweries alone – pop up in Australia, while population growth has remained steady. With an increasing level of variety, beverage companies will have to make a lot more noise to be seen by choosy consumers.
By exploring a variety of marketplaces early, businesses will have the flexibility of using the sales they make in one area as leverage against a saturated marketplace that may require more investment to make a mark.
The exporting chain is no longer restricted to big businesses who can invest massive sums into the research, marketing, logistics, and trade knowledge required to penetrate even one overseas market. With the growth in reliability of online marketplaces, your business can start selling overseas long before it reaches one million litres of goods in stock. By setting up your brand on a marketplace online, you need only to produce inventory as orders from buyers come through, which means you get a much stronger ROI for far less risk. You can start with a small production facility and still benefit from tapping into many overseas marketplaces.
Selling B2B via an online marketplace gives you the power to leverage the full capabilities of that platform, which streamlines easy systems of exporting goods and of money exchanging. You can also tap into new local economies and accept sales immediately without needing to invest your own business’ resources into penetrating a new market. And, because your online marketplace listing is accessible to buyers 24/7, you can sleep well at night while your online store works hard for you, 365 days a year.