The Export Connect inbound buyer missions provide the perfect platform for Australian food & agribusinesses to understand the current market trends and needs directly from senior buyers from leading retailers and distributors from priority export markets.
Having recently delivered inbound missions with buyers from Malaysia, Thailand, Hong Kong and Taiwan, it’s worth sharing a common theme that is arising from the buyer appointments that were facilitated on these trips.
This common theme is being able to demonstrate value for money specifically for the market that you are targeting. However, setting the right price can be a tricky balancing act. Buyers are all fully aware of the challenges that the Australian food & agribusiness sector have experienced in recent times, from supply chain disruptions, labour shortages, floods and the flow on impact of global events, resulting in ongoing escalations in the cost of goods. In many cases, suppliers have been able to a degree pass on some of their cost increases to their existing customers, both local and export.
When approaching a market for the first time, it’s imperative for Australian food & agribusinesses to comprehensively review the competing brands in-market. We are seeing some anecdotal evidence from the inbound missions that the pricing shared with the buyers does not take into account the margins necessary for retailers and distributors to represent the brand. As such, while interest in the brand may be high, the viability of successful sell-through would be low, as the products simply do not demonstrate value for money on shelf when compared with other Western imported products.
That’s why at Export Connect, we’ve developed market-specific pricing tools, that together with thorough and detailed competitor reviews (online and on-shelf), we can determine:
- If the products are suitable for the target export market in question
- And, if so, how best to pitch the product for the target market to solicit and expedite buyer interest.
If pricing has been a barrier to export market success for you, please reach out to see how our pricing and market entry strategy approach can assist you.
We hope you’ve found these insights on export pricing helpful. As always, if you’ve got any questions or want to discuss export opportunities for your company, feel free to drop us a line at Export Connect – we’d love to hear from you.
