What are BRIC countries and why are they important for your business?
Find out about BRIC countries and how your business can benefit from their opportunities.
What are BRIC countries?
BRIC countries are Brazil, Russia , India, and China. These nations are important for businesses because they have large, fast-growing economies with increasing consumer spending. Expanding to BRIC countries can open up new markets, offering opportunities to sell products and services to a wider audience. For businesses looking to grow internationally, a higher demand for exports and increasing economic growth makes these countries more attractive.
We’ve put this guide together to help you understand what a BRIC country is, so you know how to get started in these markets and include them in your business strategy.
Why are BRIC countries important?
For UK-based smaller businesses, tapping into BRIC markets can provide significant growth opportunities . Read more below to learn about the unique potential each BRIC country can offer your business and how Evri can help you start shipping.
Brazil
Brazil, with a population of over 213 million, is the largest country in South America. It has a diverse and growing economy, known for its strong agriculture, mining, and manufacturing sectors. Brazil's e-commerce market is booming, making it an excellent opportunity for small businesses to enter. The country is also rich in natural resources, providing unique opportunities in sectors like food and beverages, fashion, and technology.
Shipping to Brazil takes as little as 13-15 days and from £9.79. Find out more about sending parcels to Brazil with our guide.
Russia
Russia has a population of around 146 million and is known for its vast natural resources, particularly oil and gas. Its economy is recovering and diversifying, offering growth potential in technology, agriculture, and retail. Small businesses can benefit from Russia’s increasing demand for imported goods, especially in the technology and luxury markets. The e-commerce sector is also expanding rapidly, providing opportunities for online retailers to tap into this market.
We don’t currently provide international Courier services to Russia, but we’ll review this once the political situation is safe for us to deliver here. Keep watching this space for updates.
India
India, with a population exceeding 1.4 billion, is one of the fastest-growing economies in the world. It boasts a young and tech-savvy population, driving growth in sectors like IT, telecommunications, and e-commerce. Small businesses can find opportunities in sectors like technology, fashion, and consumer goods. India's digital economy is also expanding, making it a prime market for online businesses and digital services.
You can send a package to India in 13 to 15 days and from only £10.96. Learn more about shipping to India with our guide.
China
Similarly to India, China is also populated with over 1.4 billion people. It has a rapidly growing economy, especially in manufacturing, technology, and e-commerce. China’s e-commerce sector is the largest in the world, providing vast opportunities for online retailers. China's focus on innovation and technology offers further unique opportunities in the tech and consumer electronics sectors.
Start sending parcels to China from only £7.71 and in 12-14 days! Discover more on how to send a parcel to China in our guide.
Top sectors to consider for BRIC countries
Based on economic trends and consumer preferences in BRIC countries, there are lots of great opportunities for UK businesses to expand. We’ve put a short list together of some of the top sectors you could consider for your business to access these growing markets.
- Technology and e-commerce
- Consumer goods
- Health and wellness
- Educational services and products
- Renewable energy
How to increase your revenue from BRIC countries
If you’re looking to grow your business on an international scale, we’ve created 10 steps to help you tap into the potential of BRIC countries. It’s important to establish a strong presence in these emerging markets for your business to succeed and generate a profitable revenue stream.
Market research
Before you dive straight into selling, take a step back and research your market. You’ll need to understand different consumer preferences, local culture, and market demands in each BRIC country. Market research will also help identify key competitors and trends to keep in mind for your strategy.
Local partnerships
Partner with local businesses to establish trust and help navigate regulations you may not have experienced in the UK market. These relationships will also enable you to collaborate and reach wider audiences.
Compliance
Research local laws, tax regulations, and import/export requirements to make sure you’re compliant when setting up your business in a BRIC country. You’ll also need to stay regularly updated on any changes in trade policies and tariffs.
Tailored marketing strategies
Create marketing campaigns in local languages and reflect local culture to increase your appeal. Using popular social media platforms will be effective in reaching the right audience and targeting adverts.
Adapt your product
Make sure you can change your products or services to suit local tastes and needs. For example, offer region-specific variants or packaging to feel more unique and appealing to these audiences.
Logistics and supply chain management
Partner with a reliable logistics provider for a smooth distribution to give your customers a quality experience from purchase to delivery. At Evri, we deliver over 700 million parcels every year to 200+ international destinations. As trusted carriers for many of the UK’s largest brands, we certainly know a thing or two about delivering a great service.
Customer support
Give your customers excellent customer service in local languages and offer convenient return and refund policies. This will increase the likelihood of them returning in future and leaving a positive review.
Digital presence
Optimise your online presence for search engines with local languages in your keyword strategy. Use local websites or e-commerce platforms and payment methods to make your brand more accessible.
Pricing strategy
With your market research insights, set competitive prices and explore different pricing models to attract a range of customer segments.
Continuous monitoring
Keep a close eye on how your business is performing in the market and its consumer feedback. Staying flexible and ready to adapt your strategies will be important in making your business competitive.
Looking to boost your business?
We’ve put together resources to help you grow your business. Whether you want to increase sales, save time, or enter new markets, we’ve got what you need. Check out our guides for some inspiration: