How to Discover Your Most Promising Export Markets

To figure out which markets show the most promise as an export destination for your business, start by making a long list of possible markets to look at, and a long list of criteria or conditions that are most important to sales of your product or service. You can then conduct online research to see how each market shapes up.

It's important for first-time exporters to be realistic about their capabilities and it's advisable to concentrate on one export market at a time.

Some export markets will require a higher level of capital, language capacity, or in-market partnerships than others. Spreading yourself too thin dilutes the time and resources you can dedicate to each market, heightening the risk that you won’t be successful in any.

Think about your product or service and ask yourself:

  • Have I received enquiries or interest from a particular market?
  • Based on my prior travels, reading and research, what's my gut feeling about markets that may be promising?
  • Which markets have free trade agreements with New Zealand or easy market access for my product or service?
  • In terms of logistics, which are the easiest markets to reach from New Zealand? There may be shipping or legal hurdles.
  • Does demand for my product or service depend on distinct market characteristics, such as income levels, a hot climate, a high level of vehicle ownership, or a digitally savvy population?
  • Where are there culturally similar consumers to New Zealand consumers?

NZTE has a Market Comparison Tool you can use to track your research and ultimately rank and score different markets. Check it out today at my.nzte.govt.nz