What importers should know before they start with importing
Importing products from China presents businesses both big and small with an outstanding opportunity to greatly increase profit margins and still offer fantastic products at prices consumers are anxious to pay.
The big guys might know what to import from China at incredibly lower prices for the mass markets but there are phenomenal opportunities for small and medium size businesses to make fantastic buys of smaller quantities that still bring huge profits.
How to import from China
For companies new to importing it is often a big problem to get a head start without the right knowledge and experience.
They do not know that they have to spend substantial time to evaluate their home markets for suitable products, which are in demand or will be in demand and the customers that want to buy them. As an importer and retailer you know the first rule to success is, knowing your customers and what they will pay handsomely for.
What not to import
Do not consider to follow what your competitors are already pursuing because you will end up importing too many “Me Too” products. Too much competition drives your profits down.
What to import from China
The general process is to first select a product for import, check your competitors whether they sell such products already and how it retails, negotiate a contract with the manufacturer in China, wait for the product to be manufactured and then wait for it to be delivered by ship. It may take months for your products to reach your warehouse.
A forward thinking strategy is essential to avoid piling up goods, which upon arrival, nobody wants anymore.
Trendy products allow you to pull in huge profits when you are among the first importing them to your home country. The key is moving fast, otherwise the selected products are already out of fashion.
The market frequently changes and products which you sold for a couple of years, a decade ago, now may have a life cycle no longer than 8 months or so.
Our company cannot relief you of the burdento evaluate your home markets but we can teach you how to import from China and of course what to import from China because we are in that business for more than 30 years.