In the textile and apparel industry, technology has always been the last thing to embrace. But, in the previous few years , the industry is getting smarter with smart tools. From finding the raw material at a great price to sourcing at the right place -technology has the potential to change your business.
Technology advancement is ruling the apparel industry - businesses are going global, products are getting better, consumers are getting smarter, and technology is making it happen. One such technology is TexPro -built by industry experts with a vision to make textile and apparel business smarter than before.
TexPro - A market intelligence tool driven by data-based research that aids textile and apparel businesses to make strategic decisions. Global apparel businesses have embraced change through-out the value chain, and they compare before choosing. These businesses understand their market and serve them strategically.
The tool has boosted many businesses to perform better than before in their niche market. Innovation has no end, and here's what the most intelligent tool of the textile and apparel industry can do more for your business:
Know The Future
TexPro offers raw material prices across the globe. Apparel businesses compare the prices of raw material at a global level to choose the right material at an effective cost.
Now, the tool is all-set to forecast the raw material prices for the next three months, along with current and historical prices of raw material. TexPro can predict the prices of cotton, polyester, acrylic, nylon, and viscose.
Price prediction aids businesses in investing in the right material at the right time.
This also helps textile and apparel businesses to improvise on sourcing strategies. Ultimately, this will boost the business economy.
Be More Specific
Textile and apparel businesses are struggling to find more specific products. Considering the need for businesses; TexPro offers more distinct categories to make export-import decisions easier and better than before - Knitted and Woven.
In global export-import data, TexPro has bifurcated products on two major categories - knitted and woven to make your research more specific. Before, it was just categorized based on garment type.
Now, apparel businesses can be more specific about their product details while exporting -importing globally. Apparel businesses are hitting a new level of success by exporting -importing to the right countries by comparing the product value and choosing the right destinations for their products.
More Precise Research
Textile and apparel businesses are everywhere across the globe. And businesses across the world find it challenging to find the countries based on two major factors impacting their businesses – Economic and Political.
Considering the problems faced by many apparel businesses across the globe, TexPro has modified the Export—Import data. Now, the tool offers a detailed report of countries based on their economic and political regions to make your reach easier and quicker.
Apparel businesses can check the economic and political compatibility with the countries they are targeting to export or import goods.
Apparel businesses often find difficulties in reaching the right product when it comes to export-import. Many businesses strive for good sourcing of products, including raw material, machinery, and consumer products. HS code defines the products more precisely.
TexPro now shows up to 8-10 digits HS code to be more accurate about the product and to maintain your trade standard. Before, the tool used to provide 6-8-digit HS code.
TexPro has updated this feature to meet the exact sourcing requirement in terms of quality, volume, seasonality, and geography.
Know The Market Better
Apparel businesses have a constant barrier when it comes to the tariff. As players sitting in a part of the globe are unaware of tariff duties in the other countries. But, to trade globally, businesses should be aware of trading consequences with other countries.
TexPro has always provided the tariff rates and non-tariff barriers for all the countries involved in textile and apparel trading. Along with the product details, import duties, MFN tariffs, Non-tariff barriers, and trade agreement, TexPro will also provide local taxes and shipping distance for each of the countries. This way, you can know the market as good as a local trader.
Apparel businesses can get the exact tariff rate and transportation costs before entering into the market.
In a world full of tech and tools, choosing the right tool is vital. A tool that has better business understanding and market insights is a must for any business to compete in the ever-evolving industry.
TexPro, as a market intelligence tool, has fostered growth for numerous businesses around the globe. By updating the existing features and adding a few more, the tool has become a go-to friend for all sized businesses in the textile and apparel industry.
TexPro aspires to improve the sourcing and strategic decisions of the textile and apparel business.
The better you know your market, the better you’ll trade.