One of the most common dilemmas of business start-ups is choosing the best products to sell. Aside from items to sell, another challenge may have to solve is finding the right supplier to get their products from. With a lot of suppliers all over the world, it can be hard to select a reliable and trustworthy one whom you can have a great business relationship with in the long run.
Product importation is a huge worldwide industry in itself. In fact, a report from the World Bank Data on Import reveals that the US has imported more than $2.4 billion dollars worth of products as of 2016. Out of that $2.4 billion dollars, more than $460 billion dollars came from China-imported products.
China is top of mind as far as product importation is concerned. Through the years, the mega-country has positioned itself as the world’s largest manufacturing hub. Aside from a wide variety of products businesses can choose from, China also provides cheap yet skilled workforce, strong support from the national government, and structured business chain among a few.
Given these advantages, China is indeed a great country to source items to sell. However, there are several things you should consider first before choosing the best items your business can sell. This article will serve as a guide to know the best products to import from China and other tips you should remember before proceeding to import.
Best Products to Import from China
In order for your business to thrive, it is important to choose which product you think will provide profit in the long run. The following products are said to be the best products to import from China:
Fashion trends come and go, including the latest trends on footwear. It seems that China is up-to-date in terms of fashion, which can be a good thing especially for fashion business manufacturers. Likewise, many shoe brands such as Nike and Adidas have factories in China.
In the US, it is said that Americans spent almost $30 billion buying shoes, and has imported more than 80 percent of footwear products from China. All of us need footwear not just for aesthetic purposes but also as part of our daily needs. That said, China has a promising shoe importation business where you can source your footwear items from.
Like footwear, clothing is also considered a necessity regardless whether it’s from a luxury or casual brand. The US also heavily imports different types of apparel from China. This is because importing clothing in China in bulk is generally easier mostly because the items are lightweight and easy to store.
You won’t have to worry about you are considering selling apparel similar to others because customers have different preferences in fashion. Likewise, fashion is also constantly changing so you won’t get stuck with the same old style. Fashion is also in-demand, which makes it one of the best industries to invest on for your business.
Furniture and décor are important items used in homes and offices. Most homes need dining tables and sofas where family members can eat and relax on, respectively. On the other hand, desks and chairs are one of the most important products office-based businesses need to invest on for their employees.
US furniture importation has increased by as much as 35 percent over the past years. This is because of the decline in unemployment rate and the current real estate recovery. This is why Chinese manufacturers take advantage of these factors to sell their furniture and décor products. In addition, Chinese furniture and décor makers collaborate with other businesses to ensure high-quality, import-ready products.
Importing toys and games is ideal for businesses with limited capital, and can appeal to both B2B and B2C industries. In 2016, the US has imported almost $25 billion worth of toys. It should be no wonder because toys are always in demand whether you’re young or “young at heart”.
5. Plastic products
Plastic products are also an in-demand industry that businesses can buy at a low cost and sell at a higher price. It is commonly used in items such as food containers, utensils, various fashion accessories, and many more. Likewise, plastics can also be highly-profitable in B2B industries.
China manufactures some of the world’s luxury vehicle brands such as Audi, BMW, and Mercedes-Benz. Surprisingly, importers are able to avail these luxury car brands at affordable costs. In some parts of China, selling vehicles to other countries are possible and legal.
This is made possible by a rule called parallel import wherein importers are able to buy the vehicle at a discounted price (aside from its low price). In return, the buyer can sell it elsewhere at a high price – which is understandable since it’s a premium product end-users will be paying for.
These are only some of the many more in-demand products that can be imported from China. Other China-imported products that are highly in-demand in other countries include iron and steel and medical equipment which mostly serve large businesses in construction and medical sectors, respectively.
Things to Consider In Choosing Products to Import
As mentioned, it can be challenging to choose products to import from China. But this task can be easier by following tips to solve your business dilemma:
1. Make your own checklist.
It may vary from business to business, but it should contain these important aspects such as:
• Simple and user-friendly
• Unique yet potentially useful
• Low cost
• High demand and with high margins
2. Take note of your country’s laws regarding importing products.
For one, many countries impose bans on importing products such as medicines, tobacco, and alcoholic products. Also, make sure to know your country and the source country’s rules and regulations when importing products.
3. Find your niche.
More than finding which products to import and sell, it is important first to establish your business niche. For example, if you have a passion for art, you can consider importing art-related products like paintings, brushes, and similar items. If you want to cater to avid shoe collectors, you can opt to import specific footwear items.