Refining the buyer experience for product sourcing requires more than the latest in technology advancements. In order to successfully achieve a competitive position in the marketplace, providers must consider the resources available and infrastructure in place that supports the customer’s goals while streamlining operations.
Exporta Wholesale, known as one of the largest digital trade networks between Latin American suppliers and U.S. Buyers, sets a higher standard by utilizing their technology toolbox for robust wholesale market opportunities. In this exclusive Q&A, Exporta Wholesale’s Co-Founder Rob Monaco discusses how the company sets itself apart while supporting the manufacturing sector in Latin America.
What is Exporta Wholesale?
Exporta Wholesale is the largest marketplace connecting suppliers in Latin America with buyers in North America. Today, we have a network of over 5,000 Latin American suppliers serving a variety of consumer goods and product categories in the United States.
How is it different from the existing sourcing platforms?
Exporta’s marketplace offers buyers a full-service experience in the origination, sourcing, and managing of products. The platform was founded on the idea that curation and service are the most important elements in the buyer’s journey. Exporta’s marketplace is building technology that addresses the pains of sourcing products internationally at attractive prices. Our platform enables buyers to submit a short description of key product requirements, and our
technology provides them with 3 supplier matches that meet all of the buyers’ requirements. From there, buyers are able to request samples and place purchase orders. At any time, you can speak with someone from the Exporta team, in English, and avoid dealing with any number of supply chain disruptions due to unreliability or
miscommunication.
How can your software improve the sourcing experience? How do you create a Supplier-matching experience?
Our marketplace platform offers buyers curated suppliers that fit their specific requirements: size, speed, cost, and design. Rather than browse thousands of suppliers and individually negotiate with them across language and time barriers, Exporta has built technology that enables buyers to quickly and efficiently find long-term partners for all their buying needs.
When it comes to manufacturing products, is Latin America Good at Manufacturing? What products can be manufactured in Latin America?
Latin America consistently ranks as the top region in the world in total entrepreneurial activity and mobility in the factors of production. In addition to public sector support in recent years to improve its infrastructure, Latin America has a geographic advantage in 3 main categories: (i) textiles, (ii) consumer products (including food & beverage), and (iii) industrial products (including raw materials and packaging). Today, Latin America is now the largest regional supplier to the United States.
How can they offer better quality than Factory Asia?
All of our suppliers are vetted to ensure they are in compliance with federal and local manufacturing standards. Once Exporta confirms the suppliers are in good standing, we audit the factories to ensure environmental and workplace compliance. Over the years, we have turned away thousands of suppliers that don’t meet the rigorous standards that Exporta requires from joining the platform. We offer support for these manufacturers in meeting compliance standards so that they can eventually join the Exporta platform and begin transacting.
If Latin American manufacturers are so good, why aren’t they as known as factory Asia?
It has taken many years for Latin America to build the infrastructure and technology required to manufacture products at competitive pricing. In the years to come, Latin America will continue to emerge and grow, the same way China did approximately 20 years ago. In fact, in 2019, Latin America overtook China as the number 1
export partner with the U.S. and the trend is continuing into 2020 and beyond.
Is the infrastructure of the region prepared to offer wholesale products quickly and with good quality?
Absolutely, with an abundance of freight forwarders, logistics partners, and free trade agreements, Latin America is positioned well to manufacture and deliver high-quality products all over the world. Lots of capital is being invested in the region to ensure they are able to meet the sourcing demands of the rest of the world.
Can political change and government instability influence the process of manufacturing in Latin America?
It is always difficult to anticipate changes in the regulatory or political environment, but within Latin America, the private and public sectors are united to drive economic growth within the broader manufacturing economy. As mentioned previously, the U.S. has a strong relationship with Mexico, Central, and South America.
Are there any international policies that benefit trade with this region?
As of this writing, the USA has 20 free trade agreements with the rest of the world; 11 of them are from Latin American countries.
Is production in Latin America more environmentally responsible?
A big reason why Latin America is emerging is because of its clean and transparent manufacturing process. Asian factories are one of the main contributors to the world’s total greenhouse gas emissions, and their labor practices have been subject to ongoing scrutiny from Civil Rights and Labor Organizations. As our society becomes more mindful of the environment, Exporta is finding ways to be a leader in responsible manufacturing practices.