How to Use US Customs Import Data to Uncover Your Competitors' Secrets

In the highly competitive world of business, staying ahead of the game can be challenging. But what if we told you that there's a way to uncover your competitors' secrets? That's right; by utilizing US customs import data and third-party tools, you can reveal your rivals' import information and gain an edge in the marketplace.

In this article, we'll delve deeper into how businesses use US customs import data to spy on their competitors, why it's essential to do so, and how to get started.

The Importance of Spying on Your Competitors

When starting a business, there are numerous factors to consider, from labor to target audiences, but perhaps the most critical aspect is competition. Knowing your competitors' processes, customer base, and sources of materials can help guide your business decisions in the right direction.

By spying on your rivals, you can reduce production costs and increase profit margins, allowing you to scale your business quicker than the competition. Lowering costs can also help you dominate the market by offering products at lower rates, thereby increasing your market share.

How to Access US Customs Import Data The US Customs and Border Protection (CBP) is responsible for collecting import data, which they publish and make publicly available in the National Archives under the Freedom of Information Act (FOIA).

While you can access the data from the National Archives, most businesses prefer to use third-party tools like Import Yeti, Import Genius, and Panjiva. These tools allow you to search millions of importers and suppliers quickly, which can speed up the competitor research process.

 Import Yeti, which is a free tool that reveals the suppliers for popular retail chains in the US. By searching for "Walmart," Import Yeti provides a list of hundreds of suppliers that import to Walmart, including their addresses, top suppliers, and shipment records.

Limitations of Import Data Tools

While import data tools can provide valuable insights into your competitors' operations, they have some limitations. For one, they are limited to the information provided in the Bill of Lading, which may not contain comprehensive details.

Secondly, major companies may hide or use different names to import their supplies, which can make it difficult for the tools to crawl them. Thirdly, the tools may provide only general information like "tools," but not specific details about the products.

However, despite their limitations, import data tools can still provide you with valuable insights that can help you better understand your competitors.

Not All Import Data is Accessible

It's important to note that not all import data is readily accessible. Some businesses choose to lock their import data by using www.customsdatalock.com to provide manifest confidentiality from the CBP. With this services CBP then makes the data private for two years, which means that it won't be available to the public or third-party tools during that time.

In conclusion, spying on your competitors by using US customs import data and third-party tools can provide you with valuable insights to help you stay ahead of the competition. By understanding your competitors' processes, customers, and sources of materials, you can make informed business decisions that will give you a competitive edge. While these tools have limitations, they can still provide valuable information that can help you scale your business and dominate the market.