Based on the strategy to increase the export of Turkish Cosmetics Cluster member companies, we have analyzed the potential markets in Latin America and found Colombia to be one the most important markets for Turkish cosmetics manufacturers.
TURKISH COSMETICS CLUSTER B2B MEETINGS IN BOGOTA – COLOMBIA
According to our study, business matchmaking was the best option to introduce Turkish companies to the market and we decided to organize B2B program that will gather both Colombian companies but also buyers from neighbor countries in Bogota between July 26 and August 1, 2019.
Our program started with a retail tour; comparing our competitors’ products and prices in the market. This also helped our participant companies to study the market before the B2B meetings and position their products. Than the business meetings took place and our participants met with around 40 buyers coming from 10 different countries including Mexico, Panama, Equator and Brazil. On the average, each participant company had 21 meetings in two days.
Both Turkish manufacturers and Latin American companies satisfied with the quality of the meetings. Turkish products are considered to have high quality and competitively priced. Meeting within each other in a pre-scheduled meeting agenda andthe format of the meetings made it easier to develop business relations.
Latin American cosmetics market seems to have a greater potential than we thought but we also need to increase our activities in the region. So, we have decided to repeat the same program in 2020 with an increased number of manufacturers from Turkey. Our B2B program in Bogota will take place in July and we are expecting to have 60 buyers from 15 different countries.