In the textile industry, particularly when you are exporting, whether you are an established business or testing the trading waters for the first time, selling in an unknown country, in an unknown market is never easy. While textile has no language, overcoming language barriers, physical distances, and operational differences can be tricky in business. But the main challenge always is to find reliable and credible buyers. However, with modern trading companies and technological advances, it has become much easier, convenient, and fast to export textiles.
In this blog, we will provide you with two ways to find credible buyers for your export products.
Method 1: Finding the Right Market and the Right Buyer
The first method is divided into two key components – identifying the right foreign market where there is demand and finding and connecting with the right buyer who uses or resells your products
Identifying the Right Foreign Market for Your Textile Products
Demand for textile is everywhere, but there are few countries where the demand is more, like European Union (Italy, Netherlands, Spain, etc.), the USA, and Vietnam. You can easily find this kind of information on the websites of government organizations.
- Making Sure that the Demand is Consistent
You have to make sure that the demand is growing by determining whether the shortlisted importing company produces what you export. And if they don’t, will they start producing any time soon. You can also check whether the demand has been consistent or grown in the last couple of years.
Pro Tip: Instead of focusing on the top importing country, find a country with equal demands but a smaller market and great potential to grow.
Understanding the Profitability
Whatever your decision is, you have to earn profits ultimately. And the right price will help you earn more. Your product price must be reasonable yet lucrative. High prices are associated with great quality, better packaging, faster delivery, and other benefits. Set your price based on the following factors:
Finding Barriers to Entry
Tariff restrictions or non-tariff barriers, import quality regulations, special licensing, quality standards, testing and certifications, and packaging and labeling are a few barriers to entry. Find them out and try to overcome them. Bilateral/multilateral trade agreements between two countries often relax many barriers to entry.
It is also advised to research the political and economic stability of the importing country to be double sure.
Finding the Right Buyer for Your Textile Product
Once you have chosen the country/market for your textile product, the next step is to find the top buyers within the market. For instance, if you are looking for top textile manufacturers in India, Surat, Jaipur, Tirupur, Mumbai, and Kolkata are a few notable markets to explore. B2B websites, email marketing, or a simple Google search will also offer a few suggestions.
And if you have the right resources and exposure in the importing country, trade fairs and expos, and chamber of commerce prove to be a good source of information about textile importers.
Method 2: Trade with Damodar Menon International (DMI)
This is the simplest and quickest way to export your textile products, be it yarn, fiber, or fabric, to top importing buyers around the world effortlessly. In fact, you don’t have to go through the entire process mentioned in method 1 – rather, directly connect with DMI, and we will find you the most credible buyers from your preferred country or market quickly.
Simply contact DMI trading expert, and we will get the job done. Damodar Menon International is one of the oldest and largest textile companies in India that offers complete business solutions to exporters, importers, buyers, sellers, suppliers, and manufacturers of textile products. We are an ISO-certified company and expert at trading Spun Yarn, Cotton Yarn, Wool Yarn, Polyester Yarn, Melange Yarn, and Greige Fabric (Knits, Woven, Denim) at the international level.
How can we help?
We have been in this global business for 60 years now. We know the international market better than anyone else. We have connected many exporters and importers through extensive market research.
We can be your textile agent, a third-party agency, a foreign agency, a trading expert – whatever you want to call us. We are associated with 500+ businesses worldwide looking for you actively. Connect with them through us and close your business deal in a 50% lesser time.
To know more about textile exports and get the best deals, contact us here.
