HOW TO SOURCE IT RIGHT FOR YOUR BUSINESS IN CHINA? WHAT IS PRODUCT SOURCING?
In today’s time, product sourcing is quite relevant for online businesses and therefore each e-tailer needs to be aware of the concept of product sourcing. Product sourcing is the practice of searching products from domestic or international sources to sell through one’s company. For instance, Soucing products for Amazon is a important part of the whole supply chain for FBA sellers. It may sound like a simple process but in reality it is quite a task to put up with the whole process. Nor to mention if you interested in going further to things like finding private label manufacturers for Amazon private label.
The most important thing you need to keep in mind while sourcing is finding a reliable source that promises a steady supply of goods. While running a business, you need to get in touch with trustworthy wholesalers to get a good profit margin. One of the most common ways of product sourcing is Drop shipping. Drop shipping involves a wholesaler who acquires the products listed on your e-commerce site. Now whenever you sell a product online, the wholesaler is responsible for shipping it straight to the customer. The process is complete once you get the payment from the customer and further clear the deal with your wholesaler at the set wholesale price. Therefore drop shipping is a quite convenient technique for product sourcing and this is what makes it quite popular in the world of online businesses.
If you are new to the world of e-commerce, drop shipping is a safe and well suited method for you to begin with sourcing. What makes it quite well suited option for new sellers is the fact that it frees the seller from the responsibility of shipping and storage of products. Drop shipping even helps the new sellers to experiment, by offering a variety of products for the customers. Moreover, it gives a platform for the sellers to test the sales of their new products for making future business strategies.
There is one another method for sourcing in which the e-tailer is responsible for shipping the products directly to the customer. This method is termed as Light bulk. As the name suggests, this technique of product sourcing calls for purchasing wholesale products in smaller quantities at wholesale prices. Generally the light bulk purchasing involves investments up to $500. Once the purchasing is done, the e-commerce business holder is responsible for shipping the orders to all the customers. Hence the light bulk technique of product sourcing ends up being a really affordable means for e-tailers.
Contrary to the light bulk product sourcing technique, you can also go for the method of Volume wholesale. Volume wholesale requires you to purchase wholesale products in a larger quantity. One thing that is similar in both the light bulk product sourcing technique and the volume wholesale method is the shipping responsibility that comes on the shoulder of the e-tailer instead of the wholesaler. While going for the volume wholesale method of product sourcing you even need to manage the storage of the purchased products by yourself.
In order to expand your e-commerce sales you can even opt for importing as a technique of product sourcing for your business. Importing not only benefits your business by providing exclusive products from the manufacturing countries, but also sources them at cheaper wholesale prices. Hence what you get is increased profit margins for your business.
Liquidation happens to be another technique of product sourcing for online businesses. Liquidation takes place when manufacturers contain excess of their goods and plan to sell them off near wholesale rates.
On the whole, you need to work on a strategy to plan your sourcing options and methods by understanding how each of these techniques work. All these product sourcing techniques are unique in their own way and you just need to find the most suitable option for your business.
It is always a great idea for new sellers to begin with drop shipping and light bulk product sourcing methods for their e-commerce site and gradually go towards experimenting with other methods. Sellers need to trace their hot seller products and consider purchasing them in larger quantities to fulfill future demands and earn profit from it. This can be followed by importing of goods at cheaper prices for maximizing profits. To achieve great success for your e-commerce site, it is imperative for you to keep experimenting with the different product sourcing techniques. All these different product sourcing techniques help you build a strategy for your online business, ultimately leaving you with some great deals and increased profits.
WHY CHOOSE CHINA FOR PRODUCT SOURCING?
- Cost efficiency – China undoubtedly remains one of the cheapest sources of goods for retailers all over the world. Products manufactured in China promise a much lower cost when compared to other manufacturing countries. Hence choosing to import from China for sourcing your products is a great way of increasing the chances of your profit from business.
- Great service – Small or big, whatever be the size of your venture, Chinese manufacturers are always ready to help you with their services. Chinese manufactures promise great services for their clients, leaving them with one of the best experience for their business. So if you are looking for some really good service standards, choose China for product sourcing services.
- Output matters – No one does it better than China as far as providing a high output of products is concerned. Chinese manufacturers not only deliver high output, but do it in a really quicker frame of time. Even if you place a large order to a Chinese company for your products, you can be assured of getting it delivered within the set schedule of delivery. It is actually quite impressive to see how Chinese companies operate with their amazing manufacturing skills.
- Less time intake – No other country takes lesser time than China to manufacture its products to its ultimate destination. If you have chosen, China for sourcing your products, you can always be assured of getting your delivery on time. The work is done on time without compromising on the quality of the goods produced.
All these factors make China an ideal place for product sourcing no matter where your company is based. Choose the right sourcing company and go ahead with making great deals with the best of companies in China to gain maximum profits. An efficient sourcing company can help you making the best deals for you company benefitting you in great length. However, sourcing products from China is not a trivial task for lots of beginners.
HOW TO CHOOSE PRODUCT SOURCING COMPANY IN CHINA?
China is the global hub of product sourcing. It is only because of the presence of numerous manufacturers in China that product sourcing companies began to grow in number. In this case, a China sourcing agent or China import agent plays the role as a sourcing company for you. All Chinese manufacturers differ in their export principles, language skills, and notions of the global market. Hence it requires an efficient sourcing company in China for international buyers to make the best of their ventures. Product sourcing companies are primarily relevant as they help to bridge the gap between Chinese manufacturers and international buyers.
An efficient product sourcing company can provide invaluable help while setting up business ties with a Chinese company. First of all, a product sourcing company can help you to a great extent by identifying qualified suppliers. A good product sourcing company will understand the needs and demands of the customers and work accordingly.
You can verify the standing of a product sourcing company by checking upon the functions it offers. A good product sourcing company will not be just able to source products but also verify suppliers by examining the quality offered by them. Before finalizing on your product sourcing company in China, make sure to check if it provides professional translation facilities for all business dealing including meetings and paper work. It is because language restrictions can actually act as a great hurdle while dealing with businesses. If you find a product sourcing company that fulfills all these requirements, go ahead and seal the deal!