How Can Foreign Trade Industry Do With Covid-19

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How Can Foreign Trade Industry Do With Covid-19

Covid-19 causes hard time and impact to the foreign trade industry from macro and micro levels. For the foreign trade industry, how to do with the hard time and impact? Can It only sit and wait for death? Of course not.

As we all know, challenge is coexist with opportunity. When a industry is suffering from hardness, there will also be a lot of opportunities. For foreign trade companies, they shall grasp these opportunities to overcome the hardness and then make new throughout. Then what can foreign companies do to achieve this?

Here I take OrientFlex as example. Established in 2006, OrientFlex is a professional supplier of all kinds of hoses and relevant fittings. The rising of raw material price, the high freight and other difficulties that the covid-19 brought deeply impact OrientFlex. But its sales rose 35% in 2020 and 2021. How can OrientFlex made such achievements? Let me tell you something important.

We know that the covid-19 deeply affect the foreign trade industry, and the main manifestations are: less inquiry and order, delivery term prolonged, client channel blocked, huge product pressure and uncertain development prospect. OrientFlex takes a lot of measures to deal with such problems.

For the less inquiry and order

OrientFlex contact their clients regularly to make sure can receive the latest inquiry or order information and the subsequent purchasing plans. Thanks to this, OrientFlex can get stable information about the situation of foreign marketing, the raw materials, the situation of recovery of factories and the situation of end users. In the meantime, OrientFlex actively expand the domestic market to reduce the lost caused by covid-19.

For the raw materials

OrientFlex had a presentiment that materials will rise a lot, so It imported more raw materials in the beginning of 2020, which relieve parts of the pressure brought by price rising.

For the client channel

OrientFlex actively participate in many kinds of exhibitions online, like Canton Fair, East China Fair and many other foreign exhibitions. In the meantime, OrientFlex is aware that part of the clients turn to online, so It accumulates clients by website and online chatting. Besides, social media becomes more and more important, OrientFlex is laying out social media market development.

For the delivery time

OrientFlex work overtimes to produce to deliver on time. Meanwhile, OrientFlex expand the stock in advance to avoid such problem.

For the high freight

OrientFlex books part of the spaces in the beginning when the freight rise sharply to avoid subsequent constant rising.

More important, OrientFlex adjusted the operation strategy temporarily. During the most dangerous period of covid-19, OrientFlex transfer part of the capacity to produce epidemic prevention supplies like mask and protection suit. This great action not only reduces the impact caused by covid-19, but also discovers a new develop path.

These are the reasons why OrientFlex can survive and achieve a 35% growth against trend. There are many challenges in the growth and development of a industry, the key is how to face them and grasp the opportunities.