Problems faced by Safety Matches Business in 2023
Introduction:
Safety Matches play a vital role in our day-to-day life, as we all know the history of lighting. It all started by making use of a rock and striking from it.
After ages, technology has advanced, and the lighting process has made it advanced. However, despite many advancements, the demand for safety matches exists.
As the demand has increased for safety matches, the factor for exporting to various countries has also increased. This symbolises that there are many safety matches exporters. However, as many matchstick exporters exist, there are numerous problems too.
Now let us look into the problems the safety matches business faced in 2023.
Problems Faced by safety matches business in 2023
We have listed the main problems faced by safety match exporters in 2023.
Regulation and compliance: Maintaining reputation:
Cost of the raw materials:
Eco-friendly:
Unpredictable demand:
Preference of the Buyer: Heavy competition among the exporters:
Let us look into each topic briefly. Then, fix all these issues and see drastic changes in your safety that match the business. We hope identifying these problems helps you take your business to the next level. As every point is necessary, make sure to follow the steps.
Regulation and compliance:
As there is Increased competition from alternative fire-starting products, there is high regulation and compliance for the safety matches the product. So there is high demand whether fire-stating gels, electronic lighters, or any fire-related product.
The safety matches business requires a skilled workforce to operate machinery, perform quality control, and manage production processes, making it vulnerable to labour shortages and talent gaps.
Maintaining reputation:
As safety matches to deal with fire-related products, they must be handled carefully. While maintaining safety matches is not easy, as even a small accident might damage the business's reputation.
This reputation plays a vital role; thus, one must follow all the steps carefully to maintain it for a long time. Also, know that the government must permit the raw material that is used.
Cost of the raw materials:
It is noted that the cost of raw materials has been steadily increasing for the past few decades. As the cost of raw materials has increased, maintaining profit margins without raising prices has increased. When there is no rise in the price, the sales decrease automatically, thus ensuring that the cost of the raw materials matters. As a result, the safety matches business is vulnerable to counterfeit products that can be dangerous and difficult to detect, posing a risk to public safety and consumer trust.
Eco-friendly:
We all know that safety matches are made using Sulphur, and Sulphur is a well-known chemical product that harms the environment. The packing of the safety match is also not biodegradable. The production and disposal of safety matches can have a negative impact on the environment, leading to concerns about sustainability, waste management, and carbon emissions. If the consumer is eco-friendly, they will switch to another way of lighting; thus, there is a decline in the sales of matchsticks.
Unpredictable demand:
The demand for the safety matches industry is unpredictable as various factors determine the fluctuation. The factors such as weather conditions, natural disasters, elections in countries, economic conditions and so on play a vital role in instability. It is noted that during the war times, there was a drastic change in the matchstick industry. Many safety matches exporters in India face this trouble and figuring out numerous ways to overcome it. Keenly look into other top-notch safety match exporters and determine possible ways to overcome the fluctuation. Overall you can't suspect the demand fluctuation that happens, but you can predict after the disaster.
Preference of the Buyer:
Let it be any business retaining a customer is a must; to retain them, you must introduce new products that benefit their life and make their task easier. In this way, you can retain them and attract new products. However, consumer preferences constantly change, which can be a challenge for the safety matches of the business. For example, some consumers may prefer electronic igniters or fire starter gels to classic matches because they are easier to use. Manufacturers will need to keep up with these changing preferences if they want to remain competitive. To cope with this, increase your sales through digital and traditional marketing.
Heavy competition among the exporters:
As previously mentioned, there is an unpredictable fluctuation and heavy competition among exporters for exporting safety matches. Exporting is divided into pre-Covid and post-Covid eras; as you see, the pre covid era had its own competition but as much compared to the post-Covid era. Traditional brick-and-mortar establishments that sell safety matches may struggle to compete with the convenience and accessibility of internet shopping as e-commerce grows. You can prefer word-of-mouth marketing and attract customers to stand out from the crowd, as this is one of the unique ways to grow your business.
Wrapping Thoughts:
One must face many issues if you are in a business, not certain that it must be fastmoving or slow-paced.
In the case of Safety Matches, it is a slow-paced business, and once it is developed, it eventually becomes a fast-paced business.
To ensure this to become a fast-paced business is only your main goal; to achieve this goal, you must overcome certain challenges.
Once you overcome these challenges, you can become a leading manufacturer and exporter of safety matches globally.
Source : Epoch Exports Medium