caribbean marketoverview for food

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The Caribbean The Caribbean An Export Market With An Open Door Policy! An Export Market With An Open Door Policy!

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November 15, 2012 presentation by Food Export Northeast

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Page 1: Caribbean marketoverview for Food

The CaribbeanThe Caribbean An Export Market With An Open Door Policy!An Export Market With An Open Door Policy!

Page 2: Caribbean marketoverview for Food

The Caribbean IslandsThe Caribbean Islands

16.16. MartiniqueMartinique17.17. MontserratMontserrat18.18. Netherlands Antilles (Sint Netherlands Antilles (Sint

Maarten, Sint Eustatius, Maarten, Sint Eustatius, Saba, Curacao, Bonaire)Saba, Curacao, Bonaire)

19.19. Puerto RicoPuerto Rico 20.20. St. BarthelemySt. Barthelemy21.21. St. Kitts & NevisSt. Kitts & Nevis22.22. St. LuciaSt. Lucia23.23. St. Martin St. Martin 24.24. St. Vincent & the St. Vincent & the

GrenadinesGrenadines25.25. Trinidad & TobagoTrinidad & Tobago26.26. Turks & CaicosTurks & Caicos27.27. USVIUSVI

1.1. AnguillaAnguilla2.2. Antigua & BarbudaAntigua & Barbuda3.3. ArubaAruba4.4. The BahamasThe Bahamas5.5. BarbadosBarbados6.6. BermudaBermuda7.7. BVIBVI8.8. Cayman IslandsCayman Islands 9.9. CubaCuba10.10. DominicaDominica11.11. The Dominican RepublicThe Dominican Republic12.12. GuadeloupeGuadeloupe13.13. GrenadaGrenada14.14. HaitiHaiti15.15. JamaicaJamaica

Page 3: Caribbean marketoverview for Food

Discussion OutlineDiscussion Outline

I.I. Caribbean Market OverviewCaribbean Market Overview

II.II. Consumer TrendsConsumer Trends

III.III. Market SegmentsMarket Segments

IV.IV. Market Entry Requirements and Market Entry Requirements and StrategiesStrategies

V.V. Activities Targeting Caribbean BuyersActivities Targeting Caribbean Buyers

Page 4: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverviewGeography Geography

Page 5: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverviewGeography Geography CONTINUEDCONTINUED

• Single Island or Multi-Island ChainsSingle Island or Multi-Island Chains

• Location: Location: From:From: Bermuda Bermuda in N. Atlantic, E. of South in N. Atlantic, E. of South CarolinaCarolinaTo:To: Trinidad & TobagoTrinidad & Tobago, btw Caribbean / N. Atlantic, N.E. of , btw Caribbean / N. Atlantic, N.E. of VenezuelaVenezuela

• Climate: Climate: Sub-Tropical / Tropical Maritime / Tropical, Sub-Tropical / Tropical Maritime / Tropical, Minimal Seasonal Temp Variation, Seasonal Rainfall Minimal Seasonal Temp Variation, Seasonal Rainfall VariationVariation

• Terrain: Terrain: Varies!Varies! Low lying limestone base, coral Low lying limestone base, coral reefs, plains, fertile valleys, low hills and mountainsreefs, plains, fertile valleys, low hills and mountains

Page 6: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverviewGeography Geography CONTINUEDCONTINUED

• Natural Resources: “Natural Resources: “Sun, Sand & Sea”, Limestone, Sun, Sand & Sea”, Limestone, Nickel, Bauxite, Gold Silver, Petroleum, Natural Gas and Nickel, Bauxite, Gold Silver, Petroleum, Natural Gas and AsphaltAsphalt

• Land Use: Land Use:

The Dominican Republic The Dominican Republic – Arable Land = 23%, Permanent – Arable Land = 23%, Permanent crops = 10% and Other Use = 67%crops = 10% and Other Use = 67%

The BahamasThe Bahamas – Arable Land = 1%, Permanent crops = 0% and – Arable Land = 1%, Permanent crops = 0% and Other Use = 99%Other Use = 99%

• Natural Hazards: Natural Hazards: Hurricanes (June – November), Hurricanes (June – November), Occasional Floods, Periodic DroughtsOccasional Floods, Periodic Droughts

Page 7: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverviewPopulation/DemographicsPopulation/Demographics

Out of Many One People

Page 8: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverviewPopulation/DemographicsPopulation/Demographics

CONTINUEDCONTINUED Total Population : 40 Million Total Population : 40 Million (approx)(approx)

Top 5 : 92% / 37 MillionTop 5 : 92% / 37 MillionCuba – 11.5 M / Dominican Republic – 9.7 M / Haiti – 9 M / Cuba – 11.5 M / Dominican Republic – 9.7 M / Haiti – 9 M / Puerto Rico – 4 M / Jamaica – 2.8 MPuerto Rico – 4 M / Jamaica – 2.8 M

Annual Population Growth RateAnnual Population Growth RateHaiti – 1.8% / Dominican Republic 1.5% / Barbados 0.38%Haiti – 1.8% / Dominican Republic 1.5% / Barbados 0.38%

Male : Female RatioMale : Female RatioHaiti – 0.98: 1 / Dominican Republic 1.03:1 / Barbados 0.94:1Haiti – 0.98: 1 / Dominican Republic 1.03:1 / Barbados 0.94:1

Life Expectancy Life Expectancy Haiti – 61 Years / Dominican Republic & Barbados 74 YearsHaiti – 61 Years / Dominican Republic & Barbados 74 Years

Page 9: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverviewPopulation/DemographicsPopulation/Demographics

CONTINUEDCONTINUED Ethnic GroupsEthnic Groups

African, European, East Indian, Asian, Caribbean Amerindian, African, European, East Indian, Asian, Caribbean Amerindian, MixedMixed

ReligionsReligionsProtestant (Anglican, Seven-Day Adventist, Pentecostal, Baptist, Protestant (Anglican, Seven-Day Adventist, Pentecostal, Baptist, Methodist , etc.), Roman Catholic, Hindu, Muslim, Jewish, Other, Methodist , etc.), Roman Catholic, Hindu, Muslim, Jewish, Other, NoneNone

LanguagesLanguagesSPANISH , FRENCH / Creole / French Patois, ENGLISH/ English SPANISH , FRENCH / Creole / French Patois, ENGLISH/ English Patois, DUTCH / PapiamentoPatois, DUTCH / Papiamento

Literacy Literacy Haiti – 53% / Dominican Republic – 87% / Barbados – 99%Haiti – 53% / Dominican Republic – 87% / Barbados – 99%

Page 10: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverviewGovernmentsGovernments

Page 11: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverview Governments Governments CONTINUED CONTINUED

Status: Status: Independent Nations vs. Dependent / Overseas Territories / Independent Nations vs. Dependent / Overseas Territories / Overseas DepartmentsOverseas Departments

Types:Types:Parliamentary Democracies, Democratic Republics, Self-Governing Parliamentary Democracies, Democratic Republics, Self-Governing Territories, Commonwealth State, Communist StateTerritories, Commonwealth State, Communist State

Legal Systems:Legal Systems:Based on: English Common Law, French Civil Law, Spanish Civil Law, Based on: English Common Law, French Civil Law, Spanish Civil Law, Roman Civil Law and US LawsRoman Civil Law and US Laws

Heads of State / Government:Heads of State / Government:H of S: Queen Elizabeth II, Queen Beatrix, President Obama, Local H of S: Queen Elizabeth II, Queen Beatrix, President Obama, Local PresidentsPresidents

H of G: Prime Ministers, Presidents, Premiers, Leaders of H of G: Prime Ministers, Presidents, Premiers, Leaders of Government, GovernorsGovernment, Governors

Suffrage: 18 years of age / UniversalSuffrage: 18 years of age / Universal

Page 12: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverviewEconomiesEconomies

Page 13: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverview Economies Economies CONTINUED CONTINUED

ArubaAruba $ 21, 800$ 21, 800BermudaBermuda $ 69,900$ 69,900Dominican Dominican Rep.Rep.

$ 8,200$ 8,200

HaitiHaiti $ 1,300$ 1,300

GDP per Capita GDP per Capita IncomeIncome

GDP Composition GDP Composition by Sectorby Sector

Agric.Agric. Indus.Indus. Serv.Serv.

ArubaAruba 0.40.4%%

33%33% 6666%%

BermudaBermuda 1%1% 10%10% 8989%%

Dom. Dom. Rep.Rep.

11%11% 23%23% 6666%%

HaitiHaiti 28%28% 20%20% 5252%%

Page 14: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverview Economies Economies CONTINUED CONTINUED Unemployment Rates:Unemployment Rates: Aruba:Aruba: 6.9% /6.9% / Bermuda:Bermuda: 2.1% /2.1% /

Dominican Republic:Dominican Republic: 14.1% /14.1% / Haiti: Haiti: widespread, two-thirds of the widespread, two-thirds of the labor force do not have formal jobslabor force do not have formal jobs

Industries:Industries: Tourism, Banking, Insurance & Finance, Sugar, Tourism, Banking, Insurance & Finance, Sugar, Bananas, Tobacco, Food Processing, Beverage, Light Bananas, Tobacco, Food Processing, Beverage, Light Manufacturing, Cement, Textiles, Mining (Bauxite, other Metallic Manufacturing, Cement, Textiles, Mining (Bauxite, other Metallic and Non-Metallic Minerals) , Petroleum, Chemicals, Information and Non-Metallic Minerals) , Petroleum, Chemicals, Information TechnologyTechnology

Major Import Partners:Major Import Partners:Aruba:Aruba: US 53%, Netherlands 12%, UK 5%US 53%, Netherlands 12%, UK 5%Bermuda:Bermuda: Italy 26%,Italy 26%, US 18%, South Korea 17%, UK 8%, US 18%, South Korea 17%, UK 8%, Singapore 5%, France 5%, Norway 4%Singapore 5%, France 5%, Norway 4%Dominican Republic:Dominican Republic: US 39%, Venezuela 8%, Mexico 5%, US 39%, Venezuela 8%, Mexico 5%, Colombia 5%Colombia 5%Haiti:Haiti: US 34%, Dominican Republic 23%, US 34%, Dominican Republic 23%, Netherland Antilles 10%, China 4%Netherland Antilles 10%, China 4%

Page 15: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverview Infrastructure Infrastructure

Page 16: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverview Infrastructure Infrastructure CONTINUED CONTINUED

TelephonTelephone Main e Main LinesLines

TelephonTelephone e

CellularCellular

TV TV StationStation

ss

Internet Internet UsersUsers

Intl. Air Intl. Air and Sea and Sea

PortsPorts

Dom. Dom. Rep.Rep.

985,70985,7000

7.2 M7.2 M 2525 Plus CablePlus Cable

2.1 M2.1 M22% of Pop.22% of Pop.

10 – Air10 – Air5 - Sea5 - Sea

JamaicaJamaica 316,60316,6000

2.7 M2.7 M 77Plus CablePlus Cable

1.5 M1.5 M54% of Pop.54% of Pop.

2 – Air2 – Air5 - Sea5 - Sea

Trinidad Trinidad & & TobagoTobago

307,00307,0000

1.5 M1.5 M 66Plus CablePlus Cable

227 K227 K19% of Pop.19% of Pop.

2 – Air2 – Air3 - Sea3 - Sea

Neth.Neth.AntillesAntilles

88,00088,000 200,00200,0000

33 Plus CablePlus Cable

32 K32 K14% of Pop.14% of Pop.

3 – Air3 – Air3 - Sea3 - Sea

Page 17: Caribbean marketoverview for Food

I.I. Caribbean Market Caribbean Market OverviewOverview Top 10 Export Markets Top 10 Export Markets

0 500 1000 1500

$ Millions

Dom. Rep.Jamaica

HaitiCuba

TrinidadBahamas

Neth. Ant.BermudaBarbados

Cayman

Source: USDA

U.S. Agriculture, Fish & Forestry U.S. Agriculture, Fish & Forestry ProductsProducts

20112011

Page 18: Caribbean marketoverview for Food

II.II. Consumer TrendsConsumer Trends U.S. Agriculture, Fish & Forestry Exports to U.S. Agriculture, Fish & Forestry Exports to the the Top 5 Caribbean MarketsTop 5 Caribbean Markets

TOTALTOTAL

CaribbeaCaribbeann

Dom. Dom. Rep.Rep.

JamaicJamaicaa

HaitiHaiti CubaCuba Trinidad Trinidad & &

TobagoTobago

BulkBulk 1,228.91,228.9 548.4548.4 144.5144.5 174.1174.1 194.9194.9 71.971.9

IntermediatIntermediatee

671.4671.4 328.1328.1 101.4101.4 47.747.7 36.536.5 82.482.4

ConsumerConsumer 1,516.81,516.8 312.2312.2 155.2155.2 104.7104.7 121.3121.3 161.0161.0

Forest Forest Prod.Prod.

249.9249.9 49.149.1 29.729.7 30.130.1 1.51.5 19.019.0

SeafoodSeafood 51.651.6 9.29.2 3.63.6 1.01.0 00 4.44.4

TotalTotal 3,718.6 3,718.6 1,247.11,247.1 434.4434.4 357.5357.5 354.3354.3 338.7338.7

Source: USDA

2011($ 2011($ Millions)Millions)

Page 19: Caribbean marketoverview for Food

Growth in US Agricultural Exports to the Growth in US Agricultural Exports to the CaribbeanCaribbean

Source: USDA

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

2007 2008 2009 2010 2011

$ B

illio

ns

II.II. Consumer Trends Consumer Trends

Page 20: Caribbean marketoverview for Food

Growth in US Consumer-Oriented Growth in US Consumer-Oriented Agricultural Exports to the CaribbeanAgricultural Exports to the Caribbean

Source: USDA

0

200

400

600

800

1000

1200

1400

1600

2007 2008 2009 2010 2011

$ M

illions

II.II. Consumer Trends Consumer Trends

Page 21: Caribbean marketoverview for Food

Caribbean Market for Packaged FoodsCaribbean Market for Packaged FoodsMarket Size – Retail Value – Growth ForecastMarket Size – Retail Value – Growth Forecast

II.II. Consumer Trends Consumer Trends

0

1000

2000

3000

4000

5000

6000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

$ M

illions

Source: EUROMONITOR

Page 22: Caribbean marketoverview for Food

2009

2014

0

200

400

600

800

1000

1200

1400

1600

1800

$ M

illions

DR CUBA JA HAITI T&T GUAD BAH MART BDOS NA

II.II. Consumer Trends Consumer Trends Top 10 Caribbean Markets for Packaged Top 10 Caribbean Markets for Packaged

FoodsFoodsMarket Size – Retail Value – Growth ForecastMarket Size – Retail Value – Growth Forecast

Source: EUROMONITOR

Page 23: Caribbean marketoverview for Food

Distribution of Consumer Ready Foods in the Distribution of Consumer Ready Foods in the CaribbeanCaribbean

Source: USDA

60%

40%

Retail Food Service

II.II. Consumer Trends Consumer Trends

Page 24: Caribbean marketoverview for Food

Breakdown of U.S. Exports to the Caribbean of Breakdown of U.S. Exports to the Caribbean of Consumer-Oriented Products (2011)Consumer-Oriented Products (2011)

Source: USDA

Poultry24%

R. Meats15%

Snacks8%

Fresh F&V6%

Proc. F&V6%

Juice4%

Wine/ Beer3%

Dairy12%

Pet Food2%

Nuts1%

Cereals3%

Egg & Prods.3%

Other13%

II.II. Consumer Trends Consumer Trends

Page 25: Caribbean marketoverview for Food

II.II. Consumer Trends Consumer Trends

050

100150200250300350400

$ M

illions

Poultry Fruit & VegRed Meats SnackFoods

2007 2008 2009 2010 2011

U.S. Exports to the Caribbean of Consumer-Oriented U.S. Exports to the Caribbean of Consumer-Oriented Products – High Growth Categories Products – High Growth Categories

Source: USDA

Page 26: Caribbean marketoverview for Food

II.II. Consumer Trends Consumer Trends

Healthy Living and EatingHealthy Living and Eating

Busier Lifestyles need Convenience Busier Lifestyles need Convenience

Good Value/Economic PricesGood Value/Economic Prices

Specialty FoodsSpecialty Foods

Caribbean Consumers’ Caribbean Consumers’ Demands/NeedsDemands/Needs

Page 27: Caribbean marketoverview for Food

Best Product ProspectsBest Product Prospects Snack Foods – Healthy & SpecialtySnack Foods – Healthy & Specialty Fresh & Frozen Vegetables & FruitFresh & Frozen Vegetables & Fruit Fruit Juices & Drinks / Healthy Beverages / Energy Fruit Juices & Drinks / Healthy Beverages / Energy

DrinksDrinks Wine & BeerWine & Beer Frozen Foods / Convenience FoodsFrozen Foods / Convenience Foods Healthy / Natural Foods / Organic / Diabetic ProductsHealthy / Natural Foods / Organic / Diabetic Products Deli Meats – Salami, Cold Cuts, Turkey Breasts…Deli Meats – Salami, Cold Cuts, Turkey Breasts… Bakery Products - Ready-made, Pre-prep, IngredientsBakery Products - Ready-made, Pre-prep, Ingredients High End Seafood – Scallops, Crab, Lobster, SalmonHigh End Seafood – Scallops, Crab, Lobster, Salmon Pet Foods – Dog & Cat FoodsPet Foods – Dog & Cat Foods

II.II. Consumer Trends Consumer Trends

Page 28: Caribbean marketoverview for Food

III.III. Market Segments Market Segments

More Direct Purchases by More Direct Purchases by Chains and Large Chains and Large IndependentsIndependents

Continued Demand for Continued Demand for Private Labeling and Store Private Labeling and Store BrandingBranding

Continued Demand for Continued Demand for Value/Economy Grocery Value/Economy Grocery LinesLines

Added Service to the Added Service to the Yachting “Niche” Market – Yachting “Niche” Market – Phoned/Faxed in Orders for Phoned/Faxed in Orders for Yacht ProvisionsYacht Provisions

Retail Market Trends

Page 29: Caribbean marketoverview for Food

III.III. Market Segments Market Segments

New / Expanded Stores and New / Expanded Stores and Improved Store FormatsImproved Store Formats

More In-store Bakeries and More In-store Bakeries and Delis with “Ready” Meal Delis with “Ready” Meal ServicesServices

Expanded Frozen Food Expanded Frozen Food SectionsSections

Designated Sections for Designated Sections for Healthy/Natural/Organic and Healthy/Natural/Organic and Specialty FoodsSpecialty Foods

Introduction of Introduction of Natural/Organic Products Natural/Organic Products across Food Categoriesacross Food Categories

Retail Market Trends CONTINUED

Page 30: Caribbean marketoverview for Food

III.III. Market Segments Market Segments

Buyer Profiles:Buyer Profiles:

• Importer/Distributor mostly Importer/Distributor mostly unspecialized, Foodservice & unspecialized, Foodservice & Retail, Dry &/or RefrigeratedRetail, Dry &/or Refrigerated

• Regional ConglomeratesRegional Conglomerates

• Local chains / some with IGA Local chains / some with IGA affiliationsaffiliations

• International chains, e.g. International chains, e.g. PriceSmart, Cost-U-Less, PriceSmart, Cost-U-Less, Carrefour etc.Carrefour etc.

• Large and medium sized Large and medium sized Independent StoresIndependent Stores

• Moms & Pops, Convenience Moms & Pops, Convenience Stores etc.Stores etc.

Retail Market Structure

Foreign Supplier

Independents

Importers/Distributors

Supermarket Chains

Wholesalers

Specialty Stores

Mom & PopsConvenience Stores

PharmaciesGas Marts

Page 31: Caribbean marketoverview for Food

III.III. Market Segments Market Segments

Steady Growth in Caribbean Steady Growth in Caribbean Tourism since 2002Tourism since 2002

Approximately 14 million Approximately 14 million stop-over tourists & 13 stop-over tourists & 13 million cruise passenger million cruise passenger arrivals per yeararrivals per year

US Visitors Comprise Major US Visitors Comprise Major Share just over 50% of Share just over 50% of Tourists in the Caribbean Tourists in the Caribbean

Significant Expansion in the Significant Expansion in the # of Hotels across the # of Hotels across the Region Region

HRI / Food Service Market Trends

Page 32: Caribbean marketoverview for Food

III.III. Market Segments Market Segments

Fast Food Restaurants Fast Food Restaurants one of the Fastest one of the Fastest Growing HRI Market Growing HRI Market Segments in recent Segments in recent yearsyears

World Class Chef’s in World Class Chef’s in the Caribbean the Caribbean Influence Demand for Influence Demand for High Quality and High Quality and Specialty Food Specialty Food IngredientsIngredients

HRI / Food Service Market Trends

Page 33: Caribbean marketoverview for Food

III.III. Market Segments Market Segments

Buyer Profiles:Buyer Profiles:

• Some major Importers / Some major Importers / Distributors focus on food Distributors focus on food service market although many service market although many supply both retail and supply both retail and foodservice customers foodservice customers

• European Plan & All-InclusiveEuropean Plan & All-InclusiveChainsChains

• International and Regional International and Regional Chains Chains

• Multi-Island Hotel ChainsMulti-Island Hotel Chains

Miami / S. FL Buying OfficesMiami / S. FL Buying Offices

HRI / Food Service Market Structure

Restaurants

Institutions

Hotels

Foreign Suppliers

Importers Distributors

Page 34: Caribbean marketoverview for Food

IV.IV. Market Entry Market Entry Requirements & Strategies Requirements & Strategies

Import Documentation – Bill of Lading, Import Documentation – Bill of Lading, Commercial Invoice, Insurance CertificateCommercial Invoice, Insurance Certificate

Duties & Taxes – Import Tariffs, Other Fees, Duties & Taxes – Import Tariffs, Other Fees, Value-Added TaxesValue-Added Taxes

Health Registration / CertificationHealth Registration / Certification

Trademark RegistrationTrademark Registration

GMOs - AcceptedGMOs - Accepted

Import & Food Safety Requirements

Page 35: Caribbean marketoverview for Food

IV.IV. Market Entry Market Entry Requirements & Strategies Requirements & Strategies

1.1. Company brand nameCompany brand name2.2. Product nameProduct name3.3. Country of origin Country of origin 4.4. Ingredients listIngredients list5.5. Net weight (Metric)Net weight (Metric)6.6. Producer name and Producer name and

address or Importer address or Importer name and addressname and address

7.7. Product batch codeProduct batch code8.8. Expiration dateExpiration date9.9. Preparation Preparation

instructionsinstructions10.10. Storage instructions Storage instructions

after openingafter opening11.11. Nutrition Facts Nutrition Facts 12.12. UPC Code UPC Code

Labeling Regulations

Page 36: Caribbean marketoverview for Food

IV.IV. Market Entry Market Entry Requirements & Strategies Requirements & Strategies

Understanding from New Suppliers that initial Understanding from New Suppliers that initial orders may be small but potentially can grow in to orders may be small but potentially can grow in to big orders! big orders!

Reliable Service and CommunicationsReliable Service and Communications Good Value and Competitive PricingGood Value and Competitive Pricing Good Quality Good Quality Adequate Lead Time for Products with Expiry DatesAdequate Lead Time for Products with Expiry Dates Exclusive Importer/Distributor RelationshipsExclusive Importer/Distributor Relationships Marketing Support: POS Materials, Advertising & Marketing Support: POS Materials, Advertising &

Promotion Funds, Free Stock for PromotionsPromotion Funds, Free Stock for Promotions

What do Caribbean Food Buyers Want?

Page 37: Caribbean marketoverview for Food

IV.IV. Market Entry Market Entry Requirements & Strategies Requirements & Strategies

Important Questions:Important Questions: What are your company’s What are your company’s

Export Objectives?Export Objectives? What are your company’s What are your company’s

Resources?Resources? How much experience How much experience

does your company have does your company have in Exporting?in Exporting?

What is your company’s What is your company’s Export Strategy?Export Strategy?

Options & Approach:Options & Approach: Regional Coverage – Sell Regional Coverage – Sell

directly to Large Markets directly to Large Markets and in-directly to small and in-directly to small marketsmarkets

Sell in-directly to all Sell in-directly to all markets and transition to markets and transition to direct exports as markets direct exports as markets developsdevelops

Target Specific Market (s) Target Specific Market (s)

Export Market Options & Approach

Page 38: Caribbean marketoverview for Food

IV.IV. Market Entry Requirements Market Entry Requirements & Strategies& Strategies

Consolidation is Key for the CaribbeanConsolidation is Key for the Caribbean

• Majority of freight moving to the Region is consolidated in FloridaMajority of freight moving to the Region is consolidated in Florida

• Bermuda sources from the NE and from JacksonvilleBermuda sources from the NE and from Jacksonville

• Consolidators’ Success Factors: Proximity to Markets, Wide Product Consolidators’ Success Factors: Proximity to Markets, Wide Product Range & Services, Competitive PricesRange & Services, Competitive Prices

• Some consolidators carry product, some act as freight forwarders Some consolidators carry product, some act as freight forwarders onlyonly

• Many consolidators specialize but larger consolidators offer a full Many consolidators specialize but larger consolidators offer a full line of productsline of products

• Parallel TradingParallel Trading is a common complaint among Caribbean based is a common complaint among Caribbean based distributorsdistributors

The Role of US Export The Role of US Export Wholesalers/ConsolidatorsWholesalers/Consolidators

Page 39: Caribbean marketoverview for Food

Advantages Advantages of Selling to Consolidatorsof Selling to Consolidators

Access to a wide market and large number of buyers through a Access to a wide market and large number of buyers through a single “customer”single “customer”

Expansion of product distribution over a greater number of small-Expansion of product distribution over a greater number of small-scale buyers through consolidatorsscale buyers through consolidators

Lower payment risk selling to consolidators vs. smaller-size Lower payment risk selling to consolidators vs. smaller-size regional buyersregional buyers

Consolidators have in-depth knowledge and are better equipped Consolidators have in-depth knowledge and are better equipped to sell to the regionto sell to the region

Consolidators’ own Consolidators’ own Private LabelPrivate Label another opportunity another opportunity

IV.IV. Market Entry Market Entry Requirements & Requirements & StrategiesStrategies

Page 40: Caribbean marketoverview for Food

A Great opportunity to meet with Caribbean A Great opportunity to meet with Caribbean Buyers from most of the Caribbean MarketsBuyers from most of the Caribbean Markets

Look out for Registration details in early Look out for Registration details in early 2013! 2013!

V. 2013 Activities Targeting V. 2013 Activities Targeting Caribbean BuyersCaribbean Buyers

JUNE 2013

Page 41: Caribbean marketoverview for Food

V. 2013 Activities Targeting V. 2013 Activities Targeting Caribbean BuyersCaribbean Buyers

A Well Favored Trade Show among A Well Favored Trade Show among Caribbean and other Regional Food & Caribbean and other Regional Food & Beverage Buyers!Beverage Buyers!

October 2013Miami, Florida

Page 42: Caribbean marketoverview for Food

Thank You!Thank You!