Sourcing your goods from a different place is becoming more and more popular by the day, and when you opt for Chinese manufacturers, you are more likely to get better goods for a much lower price. If you want to start your business, then you are in need of this 2024 guide. Keep on reading to find out how to build a successful China sourcing strategy and how to excel in a marketplace with so many competitors.
Decide on the product you want to get
The first thing you need to do when building a strategy is to choose the product that you want to source. If you still haven’t made up your mind, then your first step is to check out what the trends are. Keep in mind that there are some trends that last for a long time, and there are also those that show up, stay extremely popular for a few months, and then no one remembers them.
You should look for the ones that are here to stay, and you need to opt for products that are going to be in demand even ten years from now. If you can, follow the technological trends, see what people have been looking for in the past few years, and see what’s interesting for customers even now. Don’t forget to look for items depending on your budget, and don’t go with products that you can order just a few of them, and then end up not being able to satisfy the customer demand.
Do deep research
To do better in everything, you need to do deep market research. Just because a product is trending does not mean that you will be successful in selling it, so you need to do a market based on the audience that you have.
Check the background information on the product, see what their shelf-life would be, what are the challenges that come with those goods, and if the China manufacturers are a good option for this specific item.
You don’t want to end up with a lot of unsold products and you should think about what you feel comfortable selling. If you believe in your goods, it is going to be easier to offer them to the market.
Analyze your competitors
The next step that you should take in this process is to see what your competitors are doing. You will have a general idea of who the people you are up against are, and what they are doing when it comes to sourcing from China.
Check to see which manufacturers collaborate with, if their goods are proper, and if they have any issues with shipping, delivery, or consistency on the market. All of these things are going to help you get a better general idea of what you should be looking for in a manufacturer, and what are the things that are going to help you stay on the market even years from now.
Get a sourcing agent
Keep in mind that this process is not as simple as reading a guide and having it all figured out. Once you start the process, you will see how many ups and downs there are, how many things are unfamiliar to you, and how tricky the whole research process and communication can be.
Because of this, it is far easier if you get yourself a sourcing agent that is going to help you every step of the way. With companies such as justchinait, you will be able to minimize your effort and maximize your profits. These agencies are made to help people get in touch with the right manufacturers and provide support for everything that may go wrong.
Even though you will need to pay the agent, it is better to invest this cash and multiply the profits than to try to do it all on your own, and lose your whole investment even before you start your business.
Check the manufacturers and suppliers
Besides the sourcing agent, you are free to do additional research on your own when it comes to manufacturers. The easiest way to do this is to compile a list of brands that create the products you are interested in investing in and see which ones are recommended and which ones are those that you need to steer away from.
You can check their goods, and the reviews that are left by other business owners, and if you find someone that you really like to reach out to, you can either do it on your own, or you can just tell your agent that you want to collaborate with that supplier. You can set up a meeting and see how things go from there.
Always get samples
No matter how good the manufacturer may look on paper, you should never order large quantities from them before you can see the goods with your own eyes. This is going to help you learn more about the product and how you can advertise it later on.
So, before signing a long-term contract and before ordering hundreds of pieces from a company, you should first test the items. Start by ordering samples and follow everything, starting from the ease of order, up to delivery fees and time, as well as packaging and delivery date. You will need this data to know what you expect in the grand scale of orders. Once the goods arrive, you will be able to see if you like them and if that is the product you want to go with and offer to your customers.
Learn how to communicate
Finally, you need to know how to communicate with your partners. Keep in mind that not every brand representative knows your native language, and their English may not be perfect. This is where the agents come in place, and they can help you wase the communication without you having to use translation services.
You should be patient, you should try and understand the differences that come not only with the challenges that come with the unfamiliar language but also with cultures. Keep in mind that you are in different time zones, so be respectful when it comes to time for meetings and messages.
With these things, you are going to ease the process of creating a sourcing strategy and you are going to be much more likely to excel in your business. Know that all things take time, so don’t try to rush any of these steps. Find yourself a good agent and let them take care of the most important things that may set you back.
