Buy low sell high. A saying that applies to many different aspects of business. If you are able to follow this rule, profits will flow, and one area that offers huge potential to put this saying to the test is through Chinese imports. You may already be aware that Chinese imports are usually significantly cheaper, but that does not necessarily mean you know how to use it to your own advantage. This article will take a look at the technique of importing from China for profit, and offer some useful advice to hopefully bring riches to your pocket.
Current State
Unfortunately, in this present day the competition is much fiercer when it comes to reselling cheap imports for profit. The process of globalization, fuelled by the growth of the internet and the usability of sites like Alibaba has made it easier than ever for buyers to connect to suppliers. Take a look at online sites such as eBay and Amazon and you will undoubtedly find vast amounts of products imported from China. Many suppliers based overseas also trade on these sites, meaning they can usually undercut the majority of private resellers, making it even more difficult for newcomers to profit. This also creates a race to the bottom in terms of prices, meaning razor thin margins and severe time and effort for low profits.
However, it is possible to break into this market. The most effective way is to discover a new product which has not yet been picked up on by competitors. This is not an easy task, and it can be a time consuming process to repeatedly do as over time products get oversaturated. Many countries also do not have a strong online e-commerce sector, but that doesn’t mean there isn’t an opportunity in itself. For a country with a more traditional retail industry, it would be more appropriate to import from China and sell in physical locations, be it a market stall or a brick and mortar shop.
No comments:
Post a Comment