Popularly known as the “Shopper’s Paradise,” the Yiwu Market is the best place to source goods at prices that fit your budget. Visiting a vendor in person has its pros, but before you pack, don’t forget to check out these nine tips. These tips will keep you prepared and informed at every step to ensure that you have a stress-free China sourcing trip.
Tips for efficient China Sourcing trip:
1. Go through all the promotional flyers available at the hotel front desk
Almost every hotel in Yiwu will have a stand in the lobby area with promotional brochures. These brochures have plenty of information on different products and suppliers. If you do not have contacts in China, the hotel lobby is the best place to explore your options.
2. Find out where the commodities are and be sure to take a few samples
The Yiwu Market is massive, and you are sure to lose track unless you have all your commodities listed and vendors located in advance. Coming prepared will save a lot of your sourcing time and keep you from getting distracted. Don’t forget to bring samples of the commodities that interest you.
3. Meet multiple sourcing agents to identify who can best accommodate your needs
You are sure to find numerous suppliers in China selling the same product at different prices. This makes it necessary to test out other agents for the same merchandise to make sure that you crack the best deals at rock-bottom rates.
4. Don’t fall for counterfeit products
Here you can find awesome replicas of leading international brands but don’t fall for them. Purchasing counterfeit products from China and selling them at a high price in your country of origin can get you in big trouble. You would not only lose your rights as a trusted online seller but also invite legal hassles. While counterfeit products surely make an alluring deal, it is advisable to stay away from them.
5. Research your options carefully to make an informed decision
The market has a downright overwhelming variety of products that can trap you into making a hasty decision, but beware! Suppliers may try hard to convince you to make a decision, but the best way is to explore all the options you have and finally make an informed decision.
6. You can have your products customized with your logo
If you have a particular product in mind which is not on the market, you can have it custom-made. From adding attributes and changing colors to modifying functionality and printing your logo, everything can be done within your desired budget, provided you know to negotiate.
7. Gather information from different suppliers
This task can be a little tedious and time-consuming if you do not have a China sourcing agent by your side. To learn the best sourcing practices, you need to know your potential suppliers. Make the most of your time visiting trade fairs and showrooms in China. Compile a list of suppliers and set up as many meetings as possible. Visit factories and verify if suppliers are fully equipped to fulfill the claims they make in terms of volume and timely delivery.
8. Prepare a checklist to ensure that you’ve got everything covered
Visiting factories and meeting vendors can get you really busy, leaving a little time at your disposal. It is difficult to keep track of everything once you get caught up with suppliers and services. Listing down all the questions and queries in advance will help you remain on the right track even with a hectic sourcing schedule. Visiting a supplier in person is very different from having your queries answered online. When you interact with factory owners, vendors, suppliers, and China sourcing agents one on one, you are in a better position to finalize your deals.
9. Do a compliance check to ensure that your chosen vendor meets your country’s regulations
A compliance check plays a decisive role in determining the right supplier. It eliminates unnecessary hassles and saves a lot of your time. Partnering with vendors who comply with your country’s regulations and requirements will help you maintain industry standards and deliver quality products and services.
These nine tips will help you manage your China sourcing trip more efficiently. If you want to avoid the complications arising from the language barrier and communication gap, you can count on a reputed China sourcing agent who can find legitimate suppliers and negotiate on your behalf.
Guest post by Shruti Agrawal:
As the Director at Excella Worldwide, Shruti Agrawal is a strategist with an Electronics Engineering background and is always on the lookout for ways to challenge and revise business models to make them better.