To get started, diving deep into the marketplace is highly beneficial. Search product listings on popular e-commerce sites like Alibaba, Amazon, Etsy or Taobao and see what pops up. You may also refer to governmental reports or statistics that tabulate the previous year’s export histories to determine the market demand. Researching top-selling items and exports in your industry can uncover a wealth of valuable intel – such as which products are already highly sought after or what type of competition you're up against.
According to Trading Economics, in 2022, goods imported from Indonesia were popular in countries like the United States, China, Japan and Singapore. Aside from resources like oil and gas, commodities such as electronics and food items were in high demand; thus, Indonesian exporters in this line of business are likely to gain from shipping these products to the listed nations.
2. Understand the target audience
Once you have identified the top-selling imports and trending favourites, you should know the target audience consuming these products and form a connection with them. Spend some time scouring through online forum posts and social media groups or checking up on any recent market research and relevant news on your audience.
After all, understanding your audience’s motivations, interests, concerns, and habits is crucial in developing a product or service that genuinely resonates with them. Harnessing demographic and psychographic data can thus equip you with invaluable insights into their needs, allowing you to tailor content suited for them.
3. Identify specific gaps
With the information gathered, you can then identify the actual gap – what consumers want but still can't get.
Start with conducting market research via competitor analysis and customer feedback. You may also check online reviews on YouTube, TikTok or Reddit for insightful responses and receptions.
Comprehending this gap will enable you to differentiate your product or service and create something unique that meets these specific demands of the market. From the mode of delivery not commonly offered to the particular type of preferred packaging, you can set yourself apart from the rest when you can fulfil an unmet need of your target market.
