Author: Luz Ruiz

November 21, 2019
Blog_ConsumerTrends2020

In order to make efficient action plans, companies need to know the forecasts for 2020, the current requirements of the buyer as well as international technological trends.

 

Access to information, being more aware of how we consume and produce, self-sufficiency, authenticity and the search for experiences are some of the trends that will influence consumers during 2019. According to the study on the main consumer trends conducted by Euromonitor International (a market research provider), consumers are looking to reduce consumerism and are starting to move away from media saturation.

 

AGE WON’T MATTER THAT MUCH

The market research firm expects there will be an increase in consumers who do not care about age. Demographic groups such as baby boomers - the generation born between 1946 and 1964 - have shown a fondness for the adoption of new technologies and are redefining age labels and therefore are changing the perception of the subject in their forms of consumption.

 

CONSCIOUS CONSUMER

Consumers will become more aware of the products and brands they consume, particularly those related to animal welfare ethics. The firm foresees a rise in consumers who will look for products that are friendly to the environment, in their dealings with animals and this will impact their way in food consumption and in the purchase of certain products that were previously considered niche.

 

DIGITAL

A greater use of technological tools will expand to other sectors such as health, medicine or work and will cease to be exclusively a tool for entertainment or productivity. The development of technologies linked to virtual reality or augmented reality will help to develop more digitized interpersonal experiences, but also with a lot of potential in other areas.

 

THE IMPORTANCE OF DATA

According to Jing Daily, “In 2020 premium brands will go beyond statistics and demographics, offering personalized content based on behavioral data. We will witness how brands will create experience-driven content marketing through customer data integration. Furthermore, luxury brands will take further steps to understand and analyze unstructured data coming from social media, weblogs, and emails, while creating marketing strategies that leverage the power of both structured and unstructured data. It’s safe to say that even in 2020 data analytics will continue to optimize the customer’s experiences and deliver personalization at a larger scale”.

 

A WORLD FREE OF PLASTIC

According to the consumption analysis firm, 63% of food, beverage, beauty products, home care and pet food containers are made of plastic. One of the trends that gained the most weight during 2018 was to start reducing the consumption of plastic as a matter of environmental protection and the consequences of man-made climate change.

 

IMMEDIATE

For Euromonitor, consumers will continue to look for services and platforms that help them meet their needs with a high degree of satisfaction and help them save time in their daily routine.

 

SOURCES:

https://jingdaily.com/luxury-marketing-trends-2020/

https://medium.com/@trustcodes/consumer-trends-that-will-shape-2020-e369d0a481e4

https://www.bakingbusiness.com/articles/49320-eight-consumer-trends-for-2020

https://www.entrepreneur.com/article/341216

https://blog.euromonitor.com/euromonitor-reveals-the-top-10-global-consumer-trends-in-2019/

November 14, 2019
Blog_TopReasons_Export_Netherlands

According to Santader Trade Portal “Dutch prosperity has always been based on its international trade and the geographic location of the country makes it a European trade hub, with Rotterdam being the largest European port. With high-tech industries and services, foreign trade is one of the main pillars of the Dutch economy, representing an impressive 161.2% of GDP in 2017 (World Bank), one of the most open and outward-oriented economies in the world”.

 

World’s top exports states The Netherlands shipped US$723.3 billion worth of goods around the globe in 2018. That dollar amount reflects a 7.5% increase since 2014 and an 11.6% gain from 2017 to 2018 for the economically powerful European Union member.

 

Netherlands has one of the top economies of the world and it is one of the world’s leading exporting countries. Foodstuffs represent the largest industrial sector of the country. During the last several years, Netherlands has also imposed itself as one of the largest exporters of flowers and seeds in Europe.

 

Advantages include:

  • Member of EU single market
  • Early adopter of new technology
  • One of the world's most open economies

K International states that “Netherlands’ geographic location has made it a key trading post for centuries, and it continues in that role today. Rotterdam is home to Europe’s largest port, with around 450 million tonnes of cargo passing through it every year. The country provides a high level of economic freedom and a highly skilled, multilingual workforce. According to the World Integrated Trade Solution service from the World Bank, Netherlands imports products worth USD$398,336,339.31 thousand per year. Its exports total USD$444,867,363.31 thousand per year”

 

According to The International Trade Administration:

  • Netherlands is a geographically small (approximately the size of the state of Maryland), densely populated (17 million people) country occupying a highly strategic commercial location, with Europe’s largest port (by volume) in Rotterdam.
  • Over 170 million consumers (roughly one-third of the population of the expanded European Union of 28 Member States) reside within a 300-mile radius of Rotterdam.
  • More than 80 percent of Netherlands’ GDP is generated by foreign trade in goods and services.
  • Netherlands is a key center within the global business network with an advanced infrastructure geared towards the transportation of goods, people, and electronic data.
  • Its core distribution points include Rotterdam, Europe’s largest port, and Amsterdam’s Schiphol Airport, the fourth largest airport in Europe.
  • Netherlands has capitalized on its location and advanced economy to become one of the top dozen trading countries in the world.
  • Netherlands is the seventeenth largest economy in the world and the fifth largest in the European Monetary Union (the Eurozone), with a gross domestic product (GDP) of $912 billion in 2018.

An additional factor, the importance of which should not be underestimated, is the difference in the interaction with the various tax and customs administrations amongst the EU. Some tax and customs administration take a very formal approach, whereas other administrations are very much open to dialogue.

 

The Dutch tax and customs administration belong to the latter. They are well-known for their pro-active approach and high service level. They are also receptive to confirm certain arrangements in writing, which guarantees certainty (upfront) for taxable entities.

 

SOURCES

https://www.hollandtradeandinvest.com/business-information/export--import

http://www.worldstopexports.com/netherlands-top-10-exports/

https://www.export.gov/article?id=Netherlands-Import-Requirements-and-Documentation

https://santandertrade.com/en/portal/country-profile/37,netherlands

https://www.export.gov/article?id=Netherlands-Market-Overview

November 7, 2019
Blog_Should I start Exporting

One of the biggest questions that comes to an entrepreneur when he wants to expand his horizons and start is, how do I know if my company is ready to export our products or services?

 

Careful planning is the key so that your decision to export and enter the international trade field has the success you propose. As part of your company's growth plans, exporting is a challenge that you must assume with the same commitment you serve your national market, or perhaps more, as competition increases and quality demands too.

 

Among the exporting advantages, we can find the following:

  • Reach new markets and customers
  • Possibility of growth and development of your company thanks to the new income you generate
  • Make the most of installed production capacity
  • Strengthen the competitiveness of your goods or services in price and quality
  • Reduce unit costs by increasing sales volumes
  • Improve your business image
  • Greater technological interaction
  • Create new jobs and attract new currencies to the country

But, as we said, it is necessary that you plan your entry into the export field well and be prepared for the fluctuations of the exchange market.

 

Exporting a product requires developing a series of analyzes and studies to determine whether the product or service in question is exportable or not. This process of business internationalization requires an objective long-term vision, in addition to a previous review of the market where the company is going to enter.

 

There are a number of small details that you should assess before taking a product abroad, such as the verification of the name, design details, labeling, dimensions, checking if the images can be offensive in the country of destination or adaptation to the new language from the article. However, a series of procedures to export must also be assessed.

There are also other exporting procedures that you should evaluate before deciding on the internationalization of your business, such as the following:

  • Know the customs laws of the countries where you will export, but also the precise data on packaging, labeling, documentation and health.
  • You must be sure that you have enough production capacity to land abroad.
  • Maintain alliances and agreements with other companies in the country of destination.
  • Obtain recognition of quality standards, according to market requirements.

Is it a simple process? No. But with the right help and advice, exporting your products can be quite simple as well as beneficial for your business! If you are interested in knowing more about how we can help you take your products to other markets just contact us!

SOURCES:

https://www.cnbc.com/2013/11/18/when-should-your-business-start-exporting.html

https://www.fundera.com/blog/how-to-start-an-imports-exports-business

https://www.businesswest.co.uk/blog/9-export-essentials-how-start-exporting

https://www.shippingsolutions.com/blog/14-reasons-small-businesses-should-start-exporting

https://www.cnbc.com/2013/11/18/when-should-your-business-start-exporting.html

October 30, 2019
Blog1900_WhyExportToMonaco

According to Time magazine, 1 in 56 of the population of Monaco is Worth at least $30 Million. Monaco, a small independent hereditary principality in Western Europe, is located on the Mediterranean Sea along the southern coast of France, which is also known as the French Riviera or Côte d'Azur.

 

According to Societe Generale, Monaco's economy is open to trade. The country's customs regulations conform to French and EU policies. The two nations are part of a customs union, and capital is free to move without restrictions between the two.

 

As a result, the Principality is part of the European Union customs zone, without being a member of the European Union. French customs service collects duties on cargo that unloads in Monaco and pays a share to the Principality. Monaco imposes a tax on exports to all countries, except France.

 

Us Trade Numbers states that Monaco ranked No. 168 in total trade value through August with a total of US$68.7 million. Exports totaled US$45.67 million and Imports totaled US$23.03 million, a surplus of US$22.63 million.

 

According to Santander Trade Portal, Monaco has created a stimulating environment for foreign investors, as shown by the simplified procedures for setting up businesses in the area and the extremely low tax rates that have helped make Monaco a tax haven. Monegasques and foreigners living and working in Monaco are not subject to income tax, except for French citizens.

  • There are many business and investment opportunities in Monaco, with tourism and hospitality, cosmetics and fashion, transport and pharmaceuticals, precision engineering and electronics some of the key industries.
  • Monaco applies no income tax for its residents.
  • Monaco is not formally part of the EU but uses the euro and has reciprocal agreements with France, meaning that many EU laws do apply.
  • The Monegasque government has an international outlook and welcomes foreign investors and businesspeople to operate in the Principality, so starting a business in Monaco is made relatively easy.
  • Whether you need a permit to engage in business will depend on the legal entity of your business, as well as the nature of your product or service.

Monte-Carlo Mc considers that among the many aspects which make Monaco a strategic location for doing business in Europe are:

  • Its unique political and economic environment
  • The presence of efficient administrative infrastructures
  • The density of financial activities and
  • The security for residents and their property.

Economic prosperity and the proportionally large number of jobs available, along with the government's sensitivity to safety and environmental protection, create favorable working conditions in the principality.

 

Monaco’s main imports are food, natural resources, amongst others. Monaco and Italy have the greatest trade links. Monaco also has good trade links with France including administration and legislation.

 

SOURCES

https://www.monte-carlo.mc/en/business-congress/invest-monaco/

https://blog.lacosta-properties-monaco.com/starting-a-business-in-monaco/

https://en.portal.santandertrade.com/establish-overseas/monaco/investing-3#targetText=Real%20estate%20is%20another%20attractive,make%20Monaco%20a%20tax%20haven.

https://import-export.societegenerale.fr/en/country/monaco/trade-country-risk

https://howtoexportimport.com/How-to-Import-to-Monaco--10216.aspxhttps://www.ustradenumbers.com/country/monaco/

https://www.nationsencyclopedia.com/economies/Europe/Monaco.html

http://www.cityoutmonaco.com/why-start-a-business-in-monaco-the-fact-sheet/#targetText=Monaco's%20main%20exports%20include%20pharmaceuticals,trade%20houses%2C%20agents%20and%20consultants.

October 24, 2019
BlogWhy_Export_Portugal

According to the International Trade Administration, “Mainland Portugal, along with the autonomous island regions of the Azores and Madeira, offers American exporters a market of approximately 10.3 million people in a country roughly the size of the State of Indiana. As a member of the European Union (EU) and the euro zone, it is fully integrated with the EU, uses the euro currency, and follows directives from the European Commission in Brussels. As with all EU countries, Portugal’s borders and ports are completely open to the free flow of trade with other EU member countries.

 

Portugal has a politically stable environment with a democratically elected parliamentary government and is welcoming of foreign business and investment. Portugal emerged from an extended economic crisis and successfully completed its European Union-IMF bailout program in 2014. It continued an upward trajectory in 2017, registering a record 2.7% growth and witnessing important declines in unemployment which fell to 8%. The structural reforms implemented since 2011 have created an economic and regulatory climate that is favorable to foreign investment which remains a priority for the Government with a focus on tourism, renewable energy, high quality industrial components, technology services, and value-added agricultural products”.

 

Regarding the purchasing power, it is important to note that the purchasing capacity is concentrated in the large urban areas of the country (Lisbon, Porto) and in some northern regions, such as Minho. In these places, there is a middle class that consumes products made in Spain. Finally, and as an element to highlight, there is a certain idiomatic intelligibility, since most of the Portuguese have some notion of Spanish and, with exceptions, if you speak Spanish you can establish an almost fluent conversation.

 

It should be noted that it is forbidden to export cultural goods, endangered species and war materials such as weapons, ammunition and the like.

 

What attractions does Portugal offer for business investment? According to Exportar en Aragon “The economic head of the embassy pointed to the labor market reforms - "one of the most flexible in Europe" -, justice, a new fiscal policy and a new leasing law. «The engine of growth is in the performance of companies. The export has gone from 26% of GDP to more than 40%, which implies a mental and organizational change in companies. The investment has also rebounded; It had fallen loudly, but it is going up”.

 

According to the International Trade Administration, “The United States is Portugal’s largest trading partner outside the European Union. The total amount of U.S. goods sold into Portugal is likely higher than the statistics reflect, as census data does not account for U.S. products imported into other EU countries and subsequently transported into Portugal for sale. It is common throughout the European Union for goods to be shipped to one EU location – often to take advantage of lower value added tax rates – and then to be distributed by ground transport to neighboring member state markets”.

 

What strengths does Portugal present when choosing it as a country to export?

 

  • An improvement in competitiveness thanks to deep structural reforms in sectors such as banking, pensions or the labor market. It has large companies with an international presence.
  • It has good performance in some industrial and innovative sectors.
  • Its economy is growing.
  • The unemployment rate has been reduced.
  • The country rating - investment grade BBB- is improving.
  • It has modern infrastructure and high quality.
  • It is a tourist destination.
  • It has initiated a sector and geographic diversification of exports.
  • It has research and innovation capacity.
  • It has lower labor costs and implemented reforms that improve the country's competitiveness.

SOURCES:

https://www.export.gov/article?id=Portugal-Market-Overview

https://www.oftex.es/por-que-exportar-a-portugal/

http://exportarenaragon.es/la-clave-para-vender-en-portugal-es-contar-con-un-equipo-portugues/

https://blog.bancsabadell.com/2018/12/escoger-pais-para-exportar-portugal-sabadell-negocio-internacional.html