China is a multicultural country that attracts more than 5 million foreign procurers to come every year for the development of their business. Here, you will get a wide array of products with more than 70 thousand booths in this vast industry. It thus holds the position of huge products fair instead of markets. It is because of this reason; the Chinese wholesale market has become an excellent tool for those who look to experiment with importing their products for the overall development of their small business. In this guide, we will discuss all the aspects necessary to know about the Chinese wholesale market along with some tips to have a beneficiary deal with them.
Why source from the wholesale market in China
Chinese wholesale market is an excellent source for reselling the goods, especially to those who are looking to test their products via other b2b e-commerce platforms such as, Amazon, etc. Buyers who are very much concerned about the quality products from China and prefer to meet face to face with the relevant seller, then they can enhance their credibility and have a beneficial deal with the help of this blog. When you go for asking about the products to the booths, you will find that you are merely communicating with the suppliers in the Market and directly talking about the price and other product-related specifications that are helpful for you to import.
Wholesale sellers here, are also having the benefit of shorter waiting times with minimum order quantity. Here, some deals with minimum orders and samples to get you started whereas some other accepts bulk orders too which are at the same time risky or remain untested. If you are thinking about how to proceed and which one to prefer, here are some ideas.
Important Things To Consider While Dealing With Chinese Wholesaler
There are certain essential things which may help you to get a brief idea on how to choose the best Chinese wholesaler or how to get a profitable deal with them. We are mentioning briefly about some of these aspects to help you out.
Body language and respect:
Before going to start any business, it is necessary to know about the seller a bit, instead of assuming. Small business owners often have a more casual setting and a forgiven nature. You need to see whether they have etiquette and own nature while meeting or transactions. It will help you to go in a long way and uplift your business thereby. Moreover, you should also be ensured with the honesty and authenticity of the seller before forming a friendly relationship with the person.
Business cards play an important role while you are doing face-to-face transactions in China. It works as an extension of perspectives of the business owners. You thus need to be very careful while presenting and receiving these cards graciously or not. Moreover, you also need to make sure that when you present the cards, the Chinese language is the side facing the seller (Bilingual business cards are an inevitable factor in China)
Unlike any other businesses, the language issue is another factor to consider while dealing with Chinese sellers. You should never assume that any Chinese seller will speak in English to you, not because of any other reason, but because of a lack of knowledge about talking in English. Inadequacy in language cannot lead to successful or explicit business transactions. You thus, either need to communicate between English speaking business owners and Chinese sellers or can hire a sourcing agent for interpreting clear communication.
Chinese people often believe that Western people are always in a hurry. Thus, the chance of getting betrayed by them becomes higher if you show them restless or hurried nature. You need to have enough patience and check and review all the relative details provided to you carefully before agreeing with the deal.
Pay just for the goods:
Once you crack the deal, you need to make sure a secure payment method. In Chinese wholesale industry, most of the sellers prefer to deal either through wire transfers or through PayPal accounts. As wire transfers can be risky enough like transactions with credit cards, so, this can be difficult for you to handle the disputes or refunds, usually come up with less reputable sellers. So, first, have an excellent homework to avoid any risk-bearing situations with these sellers.
Right research work on the market and other business negotiations are always fruitful to successful business transactions, and Chinese wholesale industry is not an exception. Whether you are small business owners or prominent strategist, following these steps may help you to stay ahead in the right path of business relationship always.
There are a lot more things to consider before sourcing products either from wholesale markets or for e-wholesale platforms in China. In our next blog, we will help you with other important considerations to make your research on the right markets, shipping processes, payment methods, etc. more comfortable and convenient. Always remember, the more effort you put on market research now, the smoother will be the process in the future to lead a successful business ahead and vice versa.