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China is now the undisputed biggest source of all our
consumer electronics, producing more hi-tech products than any other country.
China has become the world's largest maker of consumer electronics, producing more MP3 Players, Digital Cameras, Video Players, Electronic Gadgets, and other high tech products than any other country.
1. Hottest Unseen Consumer Electronics And
GadgetsIf you work together direct with suppliers in China you will be ahead of your competition. You will be able to buy many cutting-edge consumer electronics, long before they arrive in the retail stores back home. And you'll have the chance to check out the newest products before they are even released.
2. What About Communication Problems?
There's no need to worry about communication difficulties dealing with Chinese electronics exporters. Their whole businesses are geared towards selling to international businesses, so even though their staff's English may not be perfect, you'll be able to get the job done and form some great Chinese business connections.
3. What About Shipping The Goods From China?
You can already see "Made In China" labels everywhere you go. Thanks to international logistics companies like UPS and DHL practically any country in the world can receive consumer electronics straight from China. Wherever your customers are in the world, your next buying opportunity will be in China, especially with the increasing number of Chinese wholesale drop-shippers opening their services internationally.
4. Buy From Wholesalers Or From Factories?
In most manufacturing sectors in China, suppliers require a minimum order quantity (MOQ) for their products before the production process even starts. However, recently it's become much easier to order smaller quantities of electronics: wholesalers such as Chinavasion.com are the leaders in this field. You want one sample, you got it. You need 20 pieces for your online business? No problem! Online wholesalers are opening the electronics market for small to medium business like never before.
5. Can They Drop-Ship in China?
What is drop-shipping? Here's an example: an online shop with 100 different electronics products, selling to customers worldwide. But the store owner has no stock and never even touches the products. When the items are ordered they just get shipped direct to customers from the suppliers and the store owner can concentrate totally on customer service and marketing.
A great ecommerce model, but can this work from China? Why not! Many wholesalers in China are also offering dropshipping services so you can "sell" goods at your own profit margins without the risk of building up stocks.
6. Low Risk Payment To Chinese Suppliers
If you're starting out buying electronics or any other products from China, you're going to have to find some safe way to pay your suppliers. The best solution is paying through secure online payment systems such as Paypal, which offer a great level of buyer protection while also being a fast and cheap way to send money.
Many Chinese suppliers accept payment by bank transfer. They supply their bank details including an international SWIFT code and you instruct your bank to transfer funds. Of course you will need to make absolutely sure you're dealing with a reputable company, but once your relationship is established with your supplier, this is a good way to make fast payments.
Large import deals (in the tens of thousands of dollars) should always be paid with a Letter of Credit, which offers a sort of escrow protection for both parties. Your bank will be able to advise on how to set up letters of credit.
Don't make payments to Chinese suppliers by cheque, money order, cash, or Western Union, as these routes are prone to obvious problems. Most serious Chinese sellers will not ask for payment in those methods.
7. China Import Profits: Don't Miss The Boat
You've probably read all of the doom and gloom news stories about jobs in your home country being lost as manufacturing and other industries are moved to China. Well, shouldn't you have a chance to take advantage of the China sourcing revolution that's taking place?
With a little internet research you could be getting new business ideas and spotting profitable product niches within minutes: you owe it to yourself to investigate!
While your China import business ideas are still fresh in your mind, check out the link to our online wholesale electronics shop below...
About the Author
Rose Li is Customer Support Manager at
http://www.chinavasion.com - the Chinese
Consumer Electronics Wholesaler. Rose has also authored a 30-chapter e-course about "How To Import From China", which you can get for free when registering at the online shop: http://www.chinavasion.com
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