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Consulting

4 premises to support a sectorial export strategy

RGX Consulting

4 premises to support a sectorial export strategy

Throughout our 20-year history, we have collaborated with more than 700 chambers of commerce, business associations and export promotion agencies, in training projects, technical assistance and international export promotion. 

In many of these projects there was participation and contribution of resources of governments or cooperation organizations, in turn supported by sovereign governments. In all these cases, we have closely followed the evolution of these projects, their impact on the evolution of exports (especially of small and medium-sized companies) and consequently, on the generation of employment and economic growth in the country in question. 

We have also witnessed how political ups and downs, as well as the economic volatility of sovereigns, have ruined efforts to cement sustainable export promotion and development strategies. However, the positive view of the problem has allowed us to take note of certain lessons that should be considered when formulating and implementing any national or sectorial strategy for the promotion and development of exports, which we share below: 

1) Export Excellence: any export strategy must stimulate the private sector to achieve standards of excellence, incentivizing those who achieve it with benefits, and showing the rest of the companies the advantages of striving to reach that standard. This premise is key to focus resources on companies that strive to excel, to innovate, to invest in specialized human and technical resources to compete on a global scale. These export “gazelles” are the ones that can most possibly generate an accelerating effect on the exports of their sector and “set an example” to the rest, to align them in a series of parameters, behaviors and characteristics that make a company with capabilities of compete globally. 

2) Prioritization of Sectors: any export strategy must consider and prioritize sectors or industries with a better prospect of international growth. Of course, this analysis must start from considerations such as the contribution of each sector to GDP and employment, the capacity to innovate, the density of SMEs (indisputable generators of employment) over the total, among other factors. However, what cannot be ignored is the collated analysis of each industry, regarding the behavior of international demand, which implies evaluating with an inductive method, the evolution of world imports, changes in production and consumption patterns global, product substitution processes, and the impact of new technologies on the way they are produced and marketed. Only certain sectors with competitive advantages and capabilities, focused on the direction in which world trade is heading, should be prioritized. 

3) Ecosystem Vision / Bottom Up Methodology: any export strategy has to consider the expectations and needs of all the stakeholders of the sectorial or national export ecosystem. A program or policy designed from the technical officials of the responsible agencies, without considering the needs of the basic units of the ecosystem of the sector to benefit, is doomed to failure. exporting companies (tractors) referring to each prioritized industry. On the contrary, a design with a system vision, where companies, the unions that represent them, the service providers necessary for export and technical trade facilitation organizations participate from the beginning, will form an export ecosystem that actively involves all, with the consequent positive impact on its results. 

4) Process Virtualization: any export strategy must be strongly based on the use of NICTs to achieve competitive sectorial advantages in the phases of access to information on international markets (focus on trends in use and consumption of prioritized products and services that trigger innovation processes within companies), trade facilitation (complete digitization of export procedures) and international promotion (business rounds, virtual fairs and b2b ecommerce platforms). This does not necessarily imply a direct investment by sovereigns, but rather reinforces the idea expressed in the previous point, where the ecosystem vision will allow the incorporation of “players” that provide appropriate technological solutions to the sector or industry in question. What the COVID19 pandemic makes clear is the dire need to virtualize a large part of the export ecosystem processes, as a premise to compete on a global scale. 

RGX makes its experience and methods available to organizations that seek to make efficient and sustainable use of the resources applied to the promotion and development of exports.

Trade Intelligence

Trade Intelligence

We specialize in research and studies in international markets, focusing on demand (importers), identifying success factors for the development of industry exports to that destination and sector.

Buyer Recruitment for B2B events

Buyer Recruitment for B2B events

Through our constantly updated databases, our expertise focuses on providing validated buyer lists, and inviting importers to participate in b2b events.

Specialized webinars

Specialized webinars

Through our constantly updated databases, our expertise focuses on providing validated buyer lists, and inviting importers to participate in b2b events.

Categories
Trading

The importance of being competitive to export internationally

RGX Trading

The importance of being competitive to export internationally

Many SMEs want to grow in international markets, but they do not know the variables that indicate the competitiveness necessary to do so. Others, however, have grown on the basis of trial and error, and today they are exporting internationally. 

The question is how to expand into new markets minimizing economic risks and optimizing time? In order to help companies in this process, RGX has developed a service we call “Export Competitiveness Report”, which is based on measuring the ability of a company to export on a global scale. 

In this way, we can not only give recommendations on how to improve the export performance of a company but also prepare it, if it is not competitive enough, so that it can do so. 

The companies to whom we provide this service complete an online questionnaire (specially designed by RGX to know the company’s competitiveness) and send RGX an Export Brochure (Presentation that the company uses to generate interest among its potential international clients). 

The categories that we use to measure the competitiveness of a company are:

With this information, which does not require more than 1 hour for the company to prepare, RGX can measure the global export competitiveness of a company. 

Once RGX receives this information, it is processed by our specialists and, if the company does not have the necessary competitiveness to operate in foreign trade, it receives, from RGX, a “Competitiveness Improvement Plan” in report format so that it company can work on its deficiencies and weaknesses, and then contact us again so that RGX re-evaluates its competitiveness and continues to support its internationalization process. 

The companies, on the other hand, that have a sufficient level of competitiveness, receive a plan to improve certain aspects of their export behavior so that they can implement it, as well as the invitation to continue with the international acceleration process with the expert services of RGX (Market 

Selection, Business Agenda or list of importers, market profile, market study) that will allow them to enter a new international market without economic risks, and without wasting time. 

To the surprise of many, not all companies that are currently exporting are competitive, and if this competitiveness is not improved, they may run severe risks of losing their export business in the medium term. 

We invite and encourage all exporting companies or companies intending to export to start with this service if they intend to grow in new markets. It is not an expensive service at all, and it can save a lot of time, money and headaches.

Markets definition

Using our Market Selectivity Methodology, we identify potential markets for your products.

Importers List

Verified lists of importers, distributors and retailers.

Meetings with buyers

This service includes confirmed meetings with prospective buyers, distributors or partners in the target market.

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Trading

Successful business meetings between Salvadoran exporters an American buyers

RGX Trading

Successful business meetings between Salvadoran exporters an American buyers

Continuing the collaboration maintained since 2015 with the El Salvador Export Promotion Agency, PROESA, we developed a new project of business appointments with international buyers, which were successfully carried out the first week of December 2020.

The appointments with American buyers were made for 4 Salvadoran export companies in the food and beverage sector:

  • Bazzini House
  • Tropix Food
  • Pahnas
  • Provapan

To start the process, each exporting company had to complete the Export Check UP and send to the RGX team its Export Brochure. With this information a “Competitiveness Report” was prepared for each company, showing the main aspects that should be improved. 

To operate in a market as competitive as the United States, the strategic areas evaluated were:

  • Seniority and Export Experience
  • Human Resources for export
  • Percentage of exports over total sales
  • Evolution of Exports in the last 3 years.
  • Export markets supplied
  • Quality certifications
  • Buyer support
  • After Sales Service
  • International Online Marketing
  • Incoterms used to export
  • Financing offered

Once the Salvadoran businessmen had completed the submission of the required information, the structuring and scheduling of meetings began, where in total each company held 4 meetings with buyers located in the states of California, Texas, Chicago, Florida, New Jersey, New York, Maryland and Georgia, who were interested in learning about the Salvadoran export supply.

The work was the product of a collaborative effort between PROESA and RGX that for the fifth consecutive year are continue working to achieve companies internationalization. It is expected that in the coming weeks the connected companies will be able to advance in negotiations aimed at finalizing purchases.

To learn more about our business planner service, email us at customerservice@rgxonline.com and a specialist from our team will contact you within 48 hours.

Markets definition

Using our Market Selectivity Methodology, we identify potential markets for your products.

Importers List

Verified lists of importers, distributors and retailers.

Meetings with buyers

This service includes confirmed meetings with prospective buyers, distributors or partners in the target market.

Categories
Trading

Market profile vs Market study

RGX Trading

Market profile vs Market study

Many companies ask us what is the difference between a Market profile and a Market study and which one they need to do to have more benefits.

Here we list what each one contains so that the Companies can evaluate what they need.

 

MARKET PROFILE 

– Overview of the country’s economy.

– Analysis and assessment of the target market.

– Import volumes ($) and origin.

– Competition.

– Client Profile.

– Marketing channels.

– List of importers in the target market.

– Fairs and industry events.

– Standards and entry requirements.

– Requirements for setting up a company.  

 

MARKET STUDY

– Macroeconomic Data. Evolution of GDP, spending, and imports the last three years.

– Local production and market: composition of production. Identification of monopoly/oligopoly, size of wholesale and retail markets.

– Analysis of competition (national, foreign, product competition).

– Composition of distribution channels (% of total sales represented by each channel, brands operating in each channel, and market share of each brand).

– Prices: price analysis, competition prices, margins that each link in the chain works with. Calculation of the import price and comparison with other suppliers.

– Promotion: recommended specialized media: international fairs, trade publications, newspapers, radio, TV, etc.

– Assessment of necessary product adaptations due to regulations or consumer preferences.

– Brand and packaging feasibility analysis according to regulations and consumer preferences.

– Legal and technical requirements for importing the product.

– Current, past, and future consumer trends and consumer preferences of the target market.

– Installation of subsidiaries and their corresponding procedures.

– Business culture protocol in the destination country.

– List of potential buyers/importers.

– Summary of in-depth interviews (between 5 and 7) conducted with importers, key informants, and opinion leaders.

– Conclusions and recommended next steps. 

Markets definition

Using our Market Selectivity Methodology, we identify potential markets for your products.

Importers List

Verified lists of importers, distributors and retailers.

Meetings with buyers

This service includes confirmed meetings with prospective buyers, distributors or partners in the target market.

Categories
Trading

How to go from FOB quotes to Group D Incoterms

RGX Trading

How to go from FOB quotes to Group D Incoterms

Based on our study “UPS Business Monitor Export Index Latin America” it is recommended that entrepreneurs consider advancing even further in the international distribution chain to make contact with importers, since, as a result of the interviews conducted with 2,170 small and medium-sized importing companies in the American continent, 78% of importers indicated that shipping and logistics solutions are the most important attribute when choosing a supplier, after product quality and price; This means that exporters are willing to sell with incoming Incoterms (Group C and D) over the outgoing ones (Group E and F), it will clearly make their exportable offer much more attractive for an international buyer. .

In this making contact context with potential customers, the exporter may find himself with two marked scenarios:

  • Quotation request sending by the importer.
  • The exporter will draw up a standard price list for a given quantity of merchandise and send a quote.

Under this these situations begins the negotiation process. The exporter (seller) is forced to generate a price list that can accompany a product catalog, company brochure, explanatory videos, technical specifications of the products, certifications, and commercial samples that demonstrate the suitability and quality of the merchandise offered. Then, there are two instances that the exporting entrepreneur can avoid:

  • Negotiate with large importers: Generally these companies have a Purchase Order where they establish their procurement policies and the exporter must adapt to the imposed conditions; so much so that aspects inherent to prices, payments, qualities, packaging and Incoterms, are difficult to negotiate.
  • Negotiate with small importers: The scenario changes, and there is a greater margin for negotiation, and it is even possible to impose conditions.

Regardless of the situation, reality indicates that the sale clause, the Incoterms, not only determines the obligations and rights of each of the parties in the operation, but also the level of commitment and risk that the exporter wants to assume in the operation of export. In this sense, the FOB value is one of the most used in international operations and it is also the tax base used by various regimes that participate in exports, although it is clearly not the most valued by importers who expect a higher level of commitment for your suppliers.

To improve this proposal, contact should be made with shipping companies and freight forwarders that offer competitive charter prices and that allow the exporting company to begin negotiating under the terms of group D of the Incoterms.

To move from the FOB value to other Incoterms, the value of international freight and insurance must be added, obtaining the CIF.

If, in addition to shipping, you want to offer a “delivery solution”, that is, for the importer to receive the product directly in their warehouses, the following costs must be added to the CIF value:

  1. Port or airport terminal costs
  2. Storage and prior import deposit at destination
  3. Customs broker fees at destination
  4. Import duty and other import taxes at destination
  5. Value Added Tax if applicable (calculated on the CIF tax base)
  6. Other import taxes, if applicable
  7. Internal transport to the importer warehouse

In this case, the operation will be quoted under the Incoterms DPU that if it contemplates the unloading of the merchandise at destination (in this case it should not include the concepts of paragraphs 3, 4, 5 and 6) or DDP (all the concepts ), although the seller does not have the obligation to unload the merchandise.

Of course, as you “advance” in the use of Incoterms of greater responsibility and risk, the greater the financial immobilization, so you must either negotiate in advance of the operation or find export financing mechanisms that allow you to leverage the sales under those Incoterms. In our latest ICE 2020 study (www.rgxonline.com/ice2020) we found that 14 of the 15 most competitive companies among the 1200 interviewed, offer their products with group D Incoterms.

Markets definition

Using our Market Selectivity Methodology, we identify potential markets for your products.

Importers List

Verified lists of importers, distributors and retailers.

Meetings with buyers

This service includes confirmed meetings with prospective buyers, distributors or partners in the target market.

Categories
Consulting

Successful management of participation of American buyers Food Fair Virtual of Ecuador

RGX Consulting

Successful management of participation of American buyers Food Fair Virtual of Ecuador

In the first edition of the Food Fair Virtual Edition 2020, organized by the Ecuadorian Federation of Exporters, we carried out our “Buyers Recruitment” service, achieving the participation of 5 buyers who participated in the event held from June 29 to July 7, 2020.

The Ecuadorian exportable supply corresponded to the sectors of:

  • Coffee and elaborated
  • Cocoa and processed
  • Processed foods
  • Non-traditional fruits
  • Banana and plantain
  • Fishing and aquaculture
  • Others in the food and beverage sector

Among our main tasks we work on the search for importers in the United States, and then invite them to know the Ecuadorian exportable offer on the virtual platform; at the same time we coordinate virtual b2b appointments.

At the end of the process, we remain in contact with American buyers to learn about their experiences, purchase intentions, and other observations of improvements in terms of the organization of the fair and virtual b2b. The American importers that participated were Carbamericas Inc, Distribuidora Limeña Inc, Miami Crab Corporation, World Variety Produce Inc and Grupo Neyi LLC

Thanking the Ecuadorian Federation of Exporters (Fedexpor)  the trust placed in RGX for this work, we provide entities linked to export promotion the following recommendations for this type of event:

  • Have a catalog by sector and / or by company aimed at buyers in the target market, where emphasis is placed on logistics solutions for delivery at destination, financial, commercial and promotional support to international buyers and international quality standards achieved.
  • Most of the virtual platforms currently available on the market do not have the possibility of real-time translation, therefore, it is advisable to try to have your own staff who speak and understand the English language to negotiate.
  • At the end of the event, it is essential to periodically monitor the buyers who have participated, to know the assessment of the business appointments made with the exporters and to identify unsatisfied demands.

To learn more about our buyer recruitment service for virtual b2b events, contact us at customerservice@rgxonline.com and a consultant will contact you within 48 hours.

Trade Intelligence

Trade Intelligence

We specialize in research and studies in international markets, focusing on demand (importers), identifying success factors for the development of industry exports to that destination and sector.

Buyer Recruitment for B2B events

Buyer Recruitment for B2B events

Through our constantly updated databases, our expertise focuses on providing validated buyer lists, and inviting importers to participate in b2b events.

Specialized webinars

Specialized webinars

Through our constantly updated databases, our expertise focuses on providing validated buyer lists, and inviting importers to participate in b2b events.

Categories
Consulting

Growth of industrial manufactured exports in Latin American countries contribution

RGX Consulting

Growth of industrial manufactured exports in Latin American countries contribution

In 2017 we conducted a study of the purchasing behavior of 2,170 small and medium-sized importing companies from Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Mexico, Panama, Peru and the United States, which was complemented in 2018 with the participation of 1,041 small and medium importers from Argentina, Brazil, Chile, Colombia, Costa Rica, Panama, Peru, the Dominican Republic, Nicaragua, Guatemala, Mexico and the United States.

The panel of interviewees were importing companies with less than 150 employees, among which more than 1,000 companies from the industrial manufacturing sector participated (also from Apparel, Textile, high technology and automotive sectors). Those for purchasing or imports responsible answered a questionnaire that ran from the international supplier search stage to aspects of import logistics and supply chain.

In parallel, we are providing services for Export Promotion Agencies such as Promperú (Peru) and Proesa (El Salvador), which involve interviews with importers from practically all Latin American countries, as well as from the United States.

The results of the Study, as well as our regular contact with importers in America, allow us to identify international purchase or import behavior of these companies, which are highlighted below:

1) New international suppliers contract

34% of importers in this industry use Internet search engines to find new suppliers. At the same time, 21% do not look for them, but rather wait for potential suppliers to contact them digitally.

As a result of the pandemic, the concept of “low contact economy” was established among importers, which will intensify the trend of using search engines and online marketplaces, as the main mechanism of contact with new possible suppliers. This behavior highlights the need to equip exporters with habits, strategies and tools to position themselves adequately with potential buyers looking online.

With some exceptions, most Latin American countries are still lagging behind in the incorporation of online marketplaces, with tools for virtual business rounds, which connect the sector exportable supply with international demand online.

2) Importance of financing:

68% of importers of industrial manufactures have indicated that “flexible payment terms and / or financing” are a fundamental reason why they would choose a new supplier.

Making a more exhaustive breakdown, the countries that are most likely to change providers if they offer them “flexible payment terms or financing” are Panama, Argentina, Colombia, Peru and Mexico.

In a context of less foreign trade activity (such as the pandemic), it is essential that financial institutions identify export “gazelles” (exporting SMEs with great export competitiveness) in their countries, and protect them from the recessive context, offering solutions of payment and financing that help them retain and attract new international clients who, to buy them, are going to request financing in the payment.

3) E -Commerce sector use:

Four out of ten importers indicated that they buy products online. Among them, 67% buy directly from the website of their supplier, the exporter. Additionally, 59% of importers state that the website of a supplier influences the evaluation of a new supplier, with the most valued content being the following:

  • Technical specification of the product
  • Product certification / product warranty
  • Section “Who we are / about us”
  • Export information on the particular product (commercial conditions, freight information/ transport, and others)

At the same time, a quarter of those surveyed (23%) mentioned having used B2B platforms, such as Alibaba, Amazon and / or eBay, among others, to make imports.

These results warrant technical assistance interventions with exporting SMEs to ensure that they have an online presence (web, marketplaces) in line with what international demand expects.

4) Import Logistics:

80% of industrial manufacturing importers admitted to having delays in the import process, while production delays are the main cause, as stated by exporters and importers.

The second and third most common obstacles indicated by importers were the additional import costs in customs, and national logistics, that is, the internal distribution of the product in the importer’s place.

While some more aggressive exporting economies are adopting policies to subsidize international transport, which allow greater competitiveness of exporters, others are negotiating alliances with large transport companies with the same objective. This “race” will be key to sustaining and increasing industrial manufacturing exports in the post-pandemic stage.

At RGX we collaborate with agencies and cameras through specific services that you can visit in the vertical menu on your right on this page.

Trade Intelligence

Trade Intelligence

We specialize in research and studies in international markets, focusing on demand (importers), identifying success factors for the development of industry exports to that destination and sector.

Buyer Recruitment for B2B events

Buyer Recruitment for B2B events

Through our constantly updated databases, our expertise focuses on providing validated buyer lists, and inviting importers to participate in b2b events.

Specialized webinars

Specialized webinars

Through our constantly updated databases, our expertise focuses on providing validated buyer lists, and inviting importers to participate in b2b events.

Categories
Trading

Foreign trade in the cleaning supplies industry

RGX Trading

Foreign trade in the cleaning supplies industry

The cleaning sector is one of the areas where RGX has been seeing a sustained increase in international demand. Exercising a sector division at a global level, it is possible to fragment it into three segments, commercial cleaning, which according to Cleaning Service Reviewed occupies most of the industry with 55%, followed by industrial cleaning with 30% and residential cleaning with 15%. In terms of growth rate, in 2019, Commercial Cleaning registered the highest gains with an Annual Growth Rate of 5.13%, followed by Residential Cleaning with 4.85% and finally Industrial Cleaning with 4.17%.

Taking into account Chapter 34 of the HTC: “Soaps, organic surface agents, laundry preparations, lubricant preparations, artificial waxes, prepared waxes, cleaning products, candles and similar items …” the purchase demand is atomized, and there are more than 20 players who take about 60% of the share of world imports. However, the Top 10 of the main applicants are represented by the following countries:

 Of these destinations, the countries that most mobilized their operations, increasing their international purchases steadily in the last five years, are:

  • United States: The North American market shows signs of constant increase from 2015 to 2019, and throughout the period the increase is 3.3%. 
  • United Kingdom: It is a market that since 2016 shows its increases in global purchases, showing a year-on-year growth of approximately 1%. 
  • Canada: Since 2016 its imports have advanced slightly, but steadily, in fact, the increase in the entire period 2016-2019 is 1.3%.
  • Russia: This market, measured by its geographical extension, is not only one of the world’s main demanders, but its increase in imports is clear, it increased steadily throughout the five-year period 2016-2019 by 4.9%.

Avoiding those usual destinations, it is interesting to also pay attention to the markets that do not make up the lot of the main applicants, especially because they show increasing behavior in their global purchases, in this aspect it can be emphasized:

  • Poland: It is a country that represents 2.1% of world imports, but it has also had a continuous and constant increase in its acquisitions in the last five years, that is to say that from 2015 to 2019 its purchases rose by 6.6%.
  • Singapore: It currently symbolizes 1.2% of global purchases accumulated in the last five years, in addition it also exhibits progression trends that translate into an increase of 4.1% between 2016 and 2019.

In general terms, exporters in the cleaning industry sector should know that global trends indicate that commercial cleaning will be the segment with the greatest promise, especially due to the direct relationship with the health sector that constantly requires disinfection , as well as large companies that demand a safe and disinfected environment for their workers. In the same way, and given the global crisis, self-employment is expected to increase in the coming years, especially the residential cleaning business.

For these reasons, our recommendations for exporters in the sector are: 

1. Foreign markets selection: Emphasize on international markets with capacity for continuous demand and growth, as shown by the markets of the United Kingdom, the United States, Singapore, Poland, Russia and Canada.

2. Target segment determination: Knowing that they are demanding and highly competitive markets, it is suggested to accurately determine the target segment to attack, be it commercial, residential or industrial cleaning.

3. Adjusted market Exportable offer: Have an ecofriendly alternative within the exportable offer, in this sense it is necessary to bear in mind the new tendencies for environmentally friendly products, especially taking as a reference the attitudes and behaviors of consumers of These suggested markets, who prefer the use of organic products in every way.

4. Logistics solutions: Offer shipping and delivery solutions, that is, be willing to sell in DDP condition as it is highly valued by the sector. 

5. Payment terms: Offer payment terms and alternatives, financing in commercial operations, and have the possibility of receiving payments online. 

6. Cross-border E-Commerce: Having the possibility of placing orders online, it is worth noting that this has been maximized in the update, especially because it allows buyers to take advantage of discounts, evaluate product alternatives and assess fast shipping.

RGX has recently signed a collaboration agreement with the International Sanitary Supply Association (www.issa.com) that brings together more than 18,000 companies in the sector worldwide, which allows us preferential access to importers and distributors in the sector, which we connect with potential exporters that supply them, in the 53 countries in which we have coverage. 

If your business operates in this industry, simply email us at: customerservice@rgxonline.com and a consultant will contact you within 48 hours.

Markets definition

Using our Market Selectivity Methodology, we identify potential markets for your products.

Importers List

Verified lists of importers, distributors and retailers.

Meetings with buyers

This service includes confirmed meetings with prospective buyers, distributors or partners in the target market.

Categories
Trading

The purchasing behavior of SMEs importers of industrial manufactures in the Americas

RGX Trading

The purchasing behavior of SMEs importers of industrial manufactures in the Americas

In 2017 RGX conducted a study of the purchasing behavior of 2,170 small and medium-sized importing companies from Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Mexico, Panama, Peru and the United States, which was complemented in 2018 with the participation of 1,041 small and medium importers from Argentina, Brazil, Chile, Colombia, Costa Rica, Panama, Peru, the Dominican Republic, Nicaragua, Guatemala, Mexico and the United States.

The panel of interviewees were importing companies with less than 150 employees, among which more than 1,000 companies from the industrial manufacturing sector participated (also from the clothing, high technology and automotive sectors). Those responsible for purchasing or imports answered a questionnaire that ran from the international supplier search stage to aspects of import logistics and supply chain.

The results allowed us to identify the behavior of international purchasing or importation of these companies. Among the most salient aspects are:

1) Contact with new international suppliers

34% of importers in this industry use Internet search engines to find new suppliers. In parallel, 21% do not look for them, but wait for potential suppliers to contact them electronically.

This leads to incentivize exporting companies in the sector to use search engines more intensively as promotional tools (SEO, Adwords, etc.) and at the same time identify buyers in the target market and contact them directly.

At RGX we provide tailored “Importers List” to address buyers in the indicated markets, this includes a supervision of the communication to be sent to the buyer, to ensure that the export value proposition conforms to what the buyer expects to receive.

2) Importance of financing:

68% of importers of industrial manufactures have indicated that “flexible payment terms and / or financing” are a fundamental reason why they would choose a new supplier.
Making a more exhaustive breakdown, the countries that are most likely to change providers if they offer them “flexible payment terms or financing” are Panama, Argentina, Colombia, Peru and Mexico.

It is important that the exporter review the possibility of converting the payment term into a commercial sales argument, improving the financing conditions under which their counterparts currently pay.

3) Use of E-commerce in the sector:

Four of ten importers indicated that they buy products online. Among them, 67% buy directly from the website of their supplier, the exporter. Additionally, 59% of importers state that the website of a supplier influences the evaluation of a new supplier, with the most valued content being the following:

• Technical specification of the product
• Product certification / product warranty
• Section “Who we are / about us”
• Information on the export of the particular product (commercial conditions, information on freight / transport, etc.)

At the same time, a quarter of those surveyed (23%) mentioned having used B2B platforms, such as Alibaba, Amazon and / or eBay, among others, to make imports.
These results indicate the importance of having a website with specific information for international buyers for industrial manufacturing exporters. At the same time, it reveals the importance of having a presence on b2b platforms that connect them with potential buyers.

4) Import Logistics:

80% of industrial manufacturing importers admitted to having delays in the import process, while production delays are the main cause, as stated by exporters and importers.
The second and third most common obstacles indicated by importers were the additional import costs in Customs, and national logistics, that is, the internal distribution of the product in the importer’s place.
This behavior indicates the opportunity for industrial manufacturing exporters to offer delivery solutions at destination (Group D Incoterms), offsetting the greater financial immobilization with pre-financing or export financing instruments that do not substantially alter the prices of the products.

At RGX we currently select exporting companies with high capacity to compete in the international market, and incorporate them into its virtual business agenda service with tailored buyers in more than 50 countries.

If you want to qualify for our Export Competitiveness Methodology and qualify for the export acceleration service, click below.

Markets definition

Using our Market Selectivity Methodology, we identify potential markets for your products.

Importers List

Verified lists of importers, distributors and retailers.

Meetings with buyers

This service includes confirmed meetings with prospective buyers, distributors or partners in the target market.

Categories
Consulting

RGX obtains a high rating as a service provider from the Bogota Chamber of Commerce

RGX Consulting

RGX obtains a high rating as a service provider from the Bogota Chamber of Commerce

The Bogota Chamber of Commerce annually conducts the evaluation process of its suppliers regarding the contracts it has signed with the Entity and that are in force or that were in force within the immediately preceding calendar year.

 The evaluation process is carried out by the contract supervisor, who analyzes compliance with the following criteria:

• Opportunity in the delivery of documents.

• Conformity of the good or service contracted.

• Opportunity to deliver goods or services.

• Timeliness in reporting.

• Timeliness in billing delivery.

• Compliance with guarantees.

RGX has provided, in 2018 and 2019, the service of international promoter of the Chamber’s Internationalization area, carrying out Business Plans and Business Agendas for exporting companies from Bogotá, in the USA, Europe and Latin America Markets, of the manufacturing sectors industrial, services and clothing.

The rating obtained was 86 points out of a possible total of 100. We thank the Bogota Chamber of Commerce for the rating granted, which reinforces our commitment to offer specialized services for business agendas and commercial plans in 54 markets.

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Trade Intelligence

Trade Intelligence

We specialize in research and studies in international markets, focusing on demand (importers), identifying success factors for the development of industry exports to that destination and sector.

Buyer Recruitment for B2B events

Buyer Recruitment for B2B events

Through our constantly updated databases, our expertise focuses on providing validated buyer lists, and inviting importers to participate in b2b events.

Specialized webinars

Specialized webinars

Through our constantly updated databases, our expertise focuses on providing validated buyer lists, and inviting importers to participate in b2b events.