Page 40 - Food & Drink March 2020

EXPORT
Putting pandemics to one side, there are myriad opportunities for suppliers to take part in trade shows. Source: Informa Markets.
Best in show
With trade show season fast approaching, food export consultant Najib Lawand of Export Connect shares how to present your business and products to the world.
4TARGET BUYER LIST The next step is to begin to identify and approach potential, qualified buyers that may express interest in your product from channels such as supermarkets, food service, e-commerce or distributors.
Be sure to share with these buyers your pitch documents, catalogues, samples and other promotional materials.
During the time of the tradeshows, it might be worthwhile to book appointments at this time of the year, as well as potentially inviting these buyers to visit your trade show kiosks.
5PREPARATION OF SUPERMARKET ITINERARY
Finally, identify potential supermarkets and hypermarkets, as well as restaurants or cafes that could potentially stock your product. Ideally, you should visit these markets prior to the trade shows to see where your product category sits,
the supermarket customer base and how products similar to your own are promoted.
At Export Connect we understand that, particularly for smaller businesses, time equals money, and all of this preparation can take quite a bit of time. Organisations like Euromonitor provide market insights and Austrade can help with the buyer identification. We have the experience, networks and capability to tailor the market reports, competitor analysis, pitch development, pre-qualified buyer leads
and supermarket tour itinerary in the one service for your products. ✷
✷ ABOUTTHEAUTHOR
AS we are approaching the trade show season in the food and beverage industry (although COVID-19 is having an impact on the calendar), it is crucial suppliers are well prepared and knowledgeable about the current market for their product in the country they are visiting.
There are a myriad of opportunities coming up with Natural Products Expo West, Thaifex and Fancy Food New York, just around the corner.
Companies make huge investments to: attend these forums; pay for exhibition spaces; attend market visit programmes; or simply to travel and scope foreign markets.
Thorough preparation prior to departure means suppliers gain a more educated, nuanced understanding of the market, essentially getting more bang for their buck.
It can be hard to know what knowledge or resources will be required in this kind of environment, but we have broken this down into five crucial steps to ensure you are prepared.
1DESKTOP RESEARCH A seemingly obvious but often neglected first step, it is
extremely important to collect data, from a range of sources, regarding the country and market you are entering.
From basic demographics, consumer behaviours and your product’s specific category and channel trends, to market economics and market entry requirements and tariffs, there is an immense amount of information available online which will help you to build a base understanding of how your product could possibly be relevant to a particular market.
Consider the purchase of market research reports and statistics to provide further insight on industries, economies and consumers and be sure to utilise government websites and data sources.
2
An extension of your initial desktop research, determining the strengths and weaknesses of the competitors within a market provides you with a
distinct advantage and opportunity to understand your product’s position and strategise how best to market yourself.
This analysis can be done through gathering data via online supermarket websites and portals or food service websites. Some of the things you might like to compare are: the prices of products; claims that the product makes; pack sizes; promotions; and marketing activities.
Make sure to provide a quick overview of your product, backed with the key trends and opportunities you have found in the market and an analysis of channel margins (discovered through your desk research).
It is crucial to outline your unique selling proposition (USP), that stands apart from other products already in the market (developed through competitor analysis).
3
PITCH DEVELOPMENT
A solid pitch is an essential tool for achieving your goals and gaining attention from buyers for your products.
40 | Food&Drink business | March 2020 | www.foodanddrinkbusiness.com.au
ONLINE COMPETITOR
ANALYSIS
Najib Lawand is the
director of Export
Connect. He has 20 years’ experience in the food
and beverage industry,
across the private and
public sector. He can be contacted at najib@exportconnect.com.au or +61 448 054 234.