Thoroughly research suppliers
This applies to any type of e-commerce business, but especially in China, you must understand the suppliers and even the fraudulent suppliers.
You can search for suppliers on the following websites, including alibaba and globalsources. These sites contain a catalog of thousands of Chinese suppliers and allow you to filter them based on their credibility.
However, it is important to note that becoming a verified supplier on the list of above sites only means that the vendors have been verified, rather than being proven to be a great, decent wholesale jewelry supplier. An article pointed out that a supplier with Alibaba's "Gold Member" status can actually pay for this status.
In addition, you must remember that not all of these suppliers are manufacturers. Some are wholesalers, or retailers pretend to be wholesalers. If you want to create a unique product, you need to conduct a more in-depth study of the listed suppliers.
Thorough understanding of inventory management
As a retailer, your impact on product shipments is minimal, and the interpretation of shipping process failures from Chinese wholesale pet food supplies is much more difficult than the explanations obtained from US suppliers.
When sourcing from China, you should consider hiring a “business consultant” to help you with the complexity of taxation, customs, expedited transportation and finding reliable suppliers and manufacturers. This may cost you more prepayments, but if you can find better product deals and get these products into the US faster, the results will be worth it.
Then when purchasing from China, the sales forecast will have a big impact on your success.
“Sales forecasting is an important part of successful management of the supply chain and cost reduction. It boils down to the fact that because it takes longer to move goods internationally, companies must consider how much bulk stock will be sold – otherwise you will encounter To products that cannot be moved.
For example, if a clothing company in New York wants to purchase in China, they must ship large quantities of inventory in the United States before the sale to meet the customer's delivery time, but for the enterprise, there will be a lot of inventory: inventory Shipping costs, or they need a larger warehouse.
If you want to seriously consider purchasing products from China, these are all effective issues to consider.
Purchasing products from China will bring problems that retailers need to deal with, but for retailers who can expand their product lines, purchasing from China may be worth the extra trouble and cost. It is important to thoroughly understand how you will manage your overseas inventory, pricing and whether you can save money by transferring some or all of your product operations to China. Once these questions are answered, you can have confidence in the Chinese market.