EMEA BUSINESS
Exporting to Asia: The Dos and Don’ts Economists predict that nine of the fifteen fastestgrowing economies in the world in 2019 will be in Asia. India, Bangladesh, Cambodia, Myanmar, Laos, Vietnam, The Philippines, China and Mongolia are all expected to grow by between 7.4% and 6.2%. This makes Asia an increasingly important and lucrative focus for UK businesses looking to grow their brand globally.
Do: Utilise smart payment
Brexit has put exporting centre stage within the UK and the energy the hastily created Department for International Trade has invested in building trade links around the globe has paid off. UK exports have broken a new record – totalling £639.9 billion in the last financial year.
Retail is booming in Asia and convenience is a priority for consumers. Products that get into stores that meet this need will have the biggest opportunity to grow fast and gain market attention.
For businesses looking to capitalise on the market for British goods in Asia and launch a product there, here are some helpful dos and don’ts:
Make up and skin care products are selling increasingly well in Asia, especially if they are pharmaceutical-related. At the other end of the market, alcohol is a huge growth area. Beer is
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Smart payment is becoming as popular in Asia as in the West. Making the shopping experience easier, quicker and more enjoyable, smart payment gives products an advantage over those sold in retailers without this capacity. Consider this when choosing which local distributors and retailers to partner with.
Do: Export alcohol, make up, health foods and tech