Wenzhou shoe companies actively expand overseas emerging markets

For foreign trade companies such as Wenzhou shoes and apparel, it is increasingly important to open foreign markets. Curaçao, Lesotho, Timor-Leste... One foreign country first appeared in the export list of foreign trade shoes and other enterprises in Wenzhou City. Under the factors of slow recovery of European and American markets, trade barriers and other factors, Wenzhou’s foreign trade footwear enterprises increased ASEAN. Development of emerging markets such as Africa, South America, and the Middle East.

According to statistics from Wenzhou Customs, from January to September of this year, Wenzhou City's exports to countries and regions outside Europe and North America totaled US$6.15 billion, an increase of 30.79% year-on-year, accounting for 57.9% of the city's total exports for the same period. Exports to Estonia, Uzbekistan, Ecuador, and other countries have increased by more than 100%. At the same time, small export countries such as Somalia, East Timor, and Curaçao have achieved a “zero breakthrough” this year.

In 1992, Wenzhou's export market was limited to 49 countries and regions in Southeast Asia, Western Europe, and the United States. In 1998, foreign trade shoe companies sent footwear and other products to the Middle East, South America, and Africa through participation in various trade fairs held at home and abroad, the establishment of trade groups, and the establishment of trade windows outside the country. Exporting countries and regions Increased to 121. Last year, the city's export market has spread to 201 countries and regions around the world.

The first thing foreign trade companies face when entering new markets is the lack of information. Due to the lack of understanding of the local taxation system and customs, it is easy to enter the trade trap. It is a challenge to be able to develop and produce products that are marketable according to local consumption habits.

"We have chosen to cooperate with the local overseas Chinese in the emerging countries that are exporting to less popular areas." Hu Zhongming said that because spending habits, purchasing power and other factors all need to spend a lot of energy to research, they will choose to cooperate with powerful Chinese trading companies. Business communication is also more convenient.

Taima Footwear exported US$4 million worth of orders to South America this year through October. According to Cai Linqiong, a foreign trade manager, the South American market is an exclusive agent of a Panamanian trader, involving more than a dozen South American countries including Honduras, Guatemala, etc. The export of shoes is based on PU shoes. "We have worked with traders for many years and are very confident about his strength." Cai Linqiong said.

Chen Chen, a foreign trade employee of a trading company in the urban area, told reporters the skills of expanding the market in South America. He said that Chile and other South American countries liked durable things. As long as they felt good quality, they would not be too concerned about the differences in prices. At the same time patience is very important, because South Americans are generally good at bargaining, and the negotiation process will be long and difficult.

In addition, the city's overseas Wenzhou business network has set up regional sales headquarters, specialty stores or trade offices to open channels for Wenzhou enterprises to establish direct trade with the international market. In June of this year, the Wenzhou clothing trade representative office first selected the Marche region of Italy. At present, Wenzhou garment trade marketing points in the United States, Turkey, and other countries are also actively preparing. It is expected that there will be three to five in the near future.

Wenzhou Customs officials suggested that entering unfamiliar new countries should pay special attention to whether their products have local markets and their competitors, accurately locate their own product advantages, find differences in local products, and conduct market research in advance. Do not blindly follow up on emerging markets.