Numerous experts predict that China will surpass the United States of America in terms of manufacturing consumer electronic products. Consequently, China is a good location for cheap products that help businesses profit by selling the same.
The cost might be up the ladder recently, but it is still the most affordable option available. The financial year of 2018-19 in China witnessed consumer electronics rise to 30 billion yuan. Later in 2020, the same dropped to 20 billion yuan, courtesy of the ongoing pandemic.
Despite all these setbacks, China is the biggest market for sourcing consumer products. If you are a small business owner and look forward to increasing your margin of profits, this is the best option.
You can make your work hassle-free by following the below methods of sourcing consumer electronics in China.
1. Searching On The Internet
The Internet is the one-stop solution for all problems, even when it comes to sourcing materials. None of the searching initiatives will be complete till you take internet sources and recommendations into consideration. Search engines like Google or Bing, along with b2b platforms for sourcing like Alibaba, MadeinChina.com, and Global Sources, are the most cost-effective ways to go about sourcing.
Such platforms are the residence for numerous suppliers for you to bank on. All you need to do is search for the electronic products you want and get a filtered list of the best suppliers in China. Some sites will also give you adequate information about the company you are dealing with to substantiate its level of secured dealing.
Conversely, you need to keep adequate information about the prices and the companies. The list of companies might have a verification, but the quality of the product does not. Thus, make sure you know the details of a company and its product before you start with a deal. Some platforms even sports lists of banned members that make your search procedure a little easier.
2. Social Media Platforms
Social media is immensely growing its presence among every sector in the industry. Numerous businesses and suppliers have social media accounts that reveal their goods and services.
You can find out some of the Chinese suppliers on various social media platforms. The comments and reviews on social media will help you understand the quality of their product.
There are a few LinkedIn groups that focus on sourcing in China;
- China Sourcing
- China Sourcing forum.
- China sourcing, Networking, import, export, trading, manufacturing.
- China sourcing group.
- China trade group.
3. Visiting Trade Shows
Trade shows provide an excellent platform for the suppliers to make a mark among the customers. They display their products and reveal their product quality to convince as many people as they can. It can be a great opportunity for you to find your desired supplier.
Visit such trade shows where you will have numerous electronic suppliers from China to choose from. You will get to meet all authentic suppliers and have a chance to know about the companies and their way of dealing.
Travel from one stall to another and check out the products and services. There is a high chance that you will get to find a supplier of your liking and thus get the desired electronic goods at a nominal cost.
4. Look For Sourcing Agents
Sometimes finding legitimate electronic suppliers in China is a hassle that you might not wish to take. In such a scenario, you have the option of getting hold of sourcing agents who work in return for some commission.
These agents will find out the verified electronic goods suppliers in China and initiate a conversation on your behalf. Once they find out the companies, they will try to strike a favorable deal as per the terms you laid.
Naturally, such agents take 3 to 10% of the purchase amount as commission. Make sure that you get hold of proper sourcing agents as they also have a nexus with the manufacturing companies.
5. Direct Dealing With Suppliers
If you are confident enough to deal with a supplier, go forward with it instead of any help from some sourcing agent. Direct transactions and deals will make you save quite some money and also see the products first-hand.
Above are some of the most important ways of sourcing consumer electronic products in China. Follow such procedures with the utmost attention and find yourself the most affordable suppliers for a profitable business.