In a world of international trade, today’s success is not about selling your product. It’s about knowing who else is selling, where and how much they are selling. This is where import export data comes handy.
It enables you to closely inspect what your competition is doing, understand market trends and identify a way to differentiate yourself.
If you’ve ever scratched your head over how businesses manage to anticipate their competitors’ actions with uncanny accuracy, the answer frequently has something to do with trade data. Today I want to show you how we can compare your competitors with the help of import export data and take better business decisions.
Knowing the Importance of Import Export Data
Before we get into comparisons, it’s worth noting what this data is and isn’t. Import export data constitutes reports derived from trade and shipping activities. It contains specifics such as the selling names of products, volumes shipped, destination countries, supplier names and in some cases quantity or price of goods flowing between one country and another.
For instance, if a company exports spices from India and sells them to the USA, import export data will make it possible for you to see exactly who imports these items, how often, in what kind of quantities. If you have data like that, it is trivial to look at other people working in the field and see what they are doing.
A trusted source such as Siomex, one of the import export data providers, gives such in depth and confirmed trade information. Companies utilize Siomex to Intelligently analyze market, Spot new Buyers & Thus importantly Benchmark their Competitors.