Check This Essential Checklist!
Today, I want to share a checklist that can help you gauge if your brand is ready for global distribution.
Take a moment and visualize your product gracing shelves worldwide.
Sounds thrilling, right? But, have you considered the essentials for international distribution?
1. Pricing: Make sure your pricing strategy includes margins for your retail partners and distributors. Consider international freight costs, too.
2. VAT/GST and import duties: These can significantly impact your local prices. Stay informed and prepare for these extra costs.
3. Compliance: Different markets have different regulations. Ensure your product meets the specific certification requirements of your target market.
4. Marketing: Understanding local consumer behavior is a non-negotiable. Injecting a local flavour into your marketing strategy can mean the difference between success and failure.
5. Packaging: If you're going global, your packaging should too. International languages on your product packaging allow customers to understand what they're buying.
6. Stock Location: Don't expect customers to shoulder hefty freight charges. Consider a central warehouse for convenient order collection if your products are made in Asia.
Your readiness for international distribution hinges on these points. A keen understanding of these factors will pave the way for a smoother, more successful transition into global markets.
Time for a quick self-assessment. My team at Unlock APAC and I would happily help you assess your readiness for the Asia-Pacific markets.
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