MOSCOW, 5 Aug. Answers to questions about which foreign markets the Russian product will be in demand in, what the current demand situation is, what opportunities and limitations need to be taken into account when forming an export strategy, are provided by analytical services on the state digital platform «My Export», which the Russian The export center (part of VEB.RF) continues to improve, the center reports.
«Since the first quarter of this year, as part of the formation of the Interactive Analytical System for Supporting Decision-Making in Foreign Economic Activity (ISDS), the basic functionality of the «Barriers and Market Requirements» service has been available. The basic functionality of the service has now been put into operation, providing information on import customs duties of foreign countries, as well as non-tariff measures applied by foreign states in relation to Russian export goods. Information on tariff and non-tariff measures is available to users in an interactive format. During 2024, the service will be further developed and will acquire a number of new functional and visual capabilities. A new section, «Comparison of Trade Regimes,» will also be added, the report says.
This year, the second service of the DSS — «Export Niches» — will be launched. Users will have access to information on the potential for increasing supplies from Russia to foreign countries in the next two to three years. A promising niche represents a potential volume of additional (to the existing) supplies of goods to the target country.
In addition, the My Export digital platform continues to operate the Search for Sales Markets service, which allows users to obtain basic analytical data on its products, as well as 8 analytical reports providing information in various sections of foreign trade (taking into account the current restrictions on its distribution).
Also, the service «Market Analysis by Standard Criteria with State Support», which is available on the «Export Professionals» service, will be especially useful for SME companies. The service is provided on the terms of co-financing in the amount of at least 20% of the cost from the SME entity and no more than 80% is paid by the Center for Efficiency in Marketing. By using the service, the company receives a comprehensive marketing study of the foreign market. It includes information on current prices and a forecast of their change for the next three years, information on the current model of the supply chain to the end consumer, a list of potential foreign buyers of the goods and an assessment of their purchasing power, and much more.
«Information about the target market plays a key role in an exporter's business decision to enter a new country with a Russian product/service. The unique service in the field of foreign economic activity «My Export» provides Russian businesses with the opportunity to receive analytical research specifically focused on their specific product in a particular country or region of the world. Thanks to the analytical services provided on the platform, exporters will receive research on potential consumers and their preferences, the competitiveness of the Russian product in the target market, market trends and industry dynamics, product promotion channels and barriers along the way. This, in turn, should help the company make an informed decision on the choice of a business model and foreign partners. Analytical research ultimately becomes the tool that will help build an export project strategy, set realistic goals, and therefore minimize your own risks,» said Mikhail Sneg, Director of Export Policy and Analysis at the Russian Export Center.
In addition to the service with state support, the «Export Professionals» service also offers a paid one. analytics. Its preparation is carried out by proven Russian and international contractors. Four services are currently available: «Market analysis by standard criteria», «Research on the choice of the country of supply», «Reference on export barriers and conditions of access to the market», «Field (primary) research of the retail market».
For example, it is possible to conduct primary marketing research of the very product or goods that the exporter is going to supply to the foreign target market. The exporter can choose the service provider himself, and the user will receive all the results in the form of reports.
Exporters regularly request analytical research, for example, the Stavropol exporter «Irriko-Holding», which is engaged in intensive crop and vegetable growing. The company received the service «Market Analysis by Standard Criteria» and shared its expectations and results.
«One of the urgent tasks for us was to assess the export potential for a number of agricultural crops in some regions. It was important to understand the possibilities of their production for deliveries abroad and demand in certain international markets. After receiving the service on the «Export Professionals» service, we had arguments for developing certain areas, a basis for decision-making and predictive analytics of markets unknown to us. Now we work on the basis of facts, not hypotheses, this is insurance against mistakes,» said Maria Kristal, head of the holding's marketing department. As noted by the REC, accredited business partners of the Russian Export Center provide their services on the «Export Professionals» service. At the same time, each partner is checked not only for the safety of interaction, but also for the presence of sufficient practical experience and relevant qualifications. Currently, the pool of accredited partners already includes more than 500 providers in nine areas of support for various stages of the export cycle, including analytical services, partner search, logistics and customs support, e-commerce, etc.