A Guide to Finding the ‘Right’ Products to Import from China
People who are looking to import products from China are often unsure of the product to import. They seem to be of the opinion that a certain set of ‘right’ and ‘wrong’ products exist.
Obviously, this isn't true. For had it been, no one would be dealing with the ‘wrong’ products. The key, whether you are importing goods from China or anywhere else, is that, you ought to have a niche or two that you are an expert in.
Concentrating on a niche minimizes competition and also gives you the opportunity to give more value to your customers. For instance, if you are passionate about basketball, if you know the sport inside-out; then it could be very helpful if you traded in the accessories related to basketball. When you concentrate on basketball, you eliminate the competition from the mobile phones, jewellery, handicrafts, computers, machinery markets. Further, if you are really passionate about basketball, you will seek to contribute in a way so as to enhance the level of the sport in your target region. You would know the complementary products and what could be done to improve the quality of the products.
Another upside of focusing on a niche, instead of the mass market in China product sourcing is that such products will have suppliers on the smaller side. These suppliers are likely to be open to smaller orders and hence, you stand a fair chance of becoming an important customer. Besides, the number of the suppliers will possibly be few, hence the task of choosing one from those available, becomes much easier. In addition, scammers have more to gain from the mass market — that would place you in a safer position.
However, if you are not an expert in a particular niche, you aren't compelled to import the ‘wrong products’. You can always develop your expertise in a niche. You may very well start your journey with a visit to a brick and mortar store that specializes in the niche you are interested in. Magazines specializing in that niche are equally beneficial as they would contain a lot of relevant information and also advertisements, which would help you in adjudging the competition.
A crucial point that people overlook is that satisfaction is just as important as the profits, when you are engaged in a long term trade; and that is possible only when you are pursuing your passion.