Most definitely today, China is the number one sourcing destination for companies across the world. China is helping the companies to source good quality products and guarantee cost-efficiency most of the time. Twenty years ago, if you wanted to buy a product from China, it would be almost sure to get the most price-competitive deal in the world. However, with the changing market conditions, technology, and pricing strategies, foreign companies also need to find the cheapest yet most durable products in the Chinese market. In this vein, finding the most inexpensive supplier without sacrificing the quality is a very challenging task, especially if you don’t speak Chinese and not familiar with the Chinese market practices.
In this work, we prepared the most effective ways to source the most price-competitive products from China.
If you have sourced a product from China, you may already be familiar with platforms such as Alibaba.com or JD.com. There are many platforms in China, and a single platform doesn’t guarantee the lowest price for every product. Therefore, you need to data scrap the prices from Alibaba, JD, 1688, Global Sources, Made in China, and compare the prices in each product group.
It is hard to stress enough the importance of finding a verified supplier. A verified supplier means a legitimate supplier with its production facility. Most of the trading companies in China are not the direct supplier, therefore to profit, they add their profit margin on the top of the original price. If you can get the trading company out of the deal, you can cut down the costs efficiently.
You may find it unconventional to post a product search on social media, but it is very effective. Most of the Chinese sales representatives subscribe to hashtags or check on specific keywords daily to find leads. If you can have them reach you first, you may get a better and on-point deal instead of contacting unnecessary companies to ask for the price and product.
Participating in Chinese trade shows is definitely among the most efficient ways to hunt products. In trade fairs like Canton Fair, East China Import and Export Fair, and Yiwu International Commodities Fair, you can talk with hundreds of suppliers in a matter of days. Furthermore, in these fairs, you can check out new products, learn about the pricing in the industry and converse with the manufacturers directly.
If you don’t speak Chinese and don’t live in China, most certainly, the most efficient and cost-effective way is to work with a Chinese market consultant. Reliable consultants can find the products you are looking for quickly and manage the negotiations with the suppliers on your behalf. Even though you may want to do it yourself, when you consider the translation costs, travel, accommodation, and visa costs, you will realize it saves you both time and money to work with an established consultancy firm.
Finding the most price-competitive product in the Chinese market is a big task for foreign companies. Especially if you are looking for a stable supply chain and durable products, the job is even more challenging. Therefore, you can contact with GlocLink Consultancy to find the best products at the most competitive prices. Our office in Hangzhou searches products across China, negotiates with vendors, and verifies the suppliers.