90% of the well-known brands import umbrellas from China. Many entrepreneurs are entering the market of umbrellas due to the high demand in foreign markets as a result of the high quality and low price of Chinese umbrellas.
Every business is unique and has its requirements. As a result, the right supplier for your business requirements will vary based on your unique business model. Thus, the approach to finding an umbrella supplier will also be different for each business.
Finding an umbrella supplier in China is a big topic, so I’d like to break it down into several sections for a more detailed discussion. Please read patiently; I promise you won’t be disappointed.
- Choosing An Umbrella Supplier To Match Your Business
- Six Types Of Umbrella Suppliers In China
- Wholesale Market Or Umbrella Suppliers In The City.
- Find Umbrella Suppliers At The China Expo.
- Online Search For China Umbrella Suppliers
- Verify That The Umbrella Supplier Is Reliable
- Tips For Dealing With Umbrella Suppliers
- Tips For Finding Umbrella Procurement Suppliers
A lot of people have asked me directly, ” Justin, it’s so frustrating to find an umbrella supplier in China, and I don’t have enough starting orders. Or, the cost of the product exceeded my budget.” Some new Amazon sellers unhappily told me, “Sales have steadily increased since listing my business, and I’m really happy to be going along with my previous vendor. It was a nightmare to get into the second tier, but I was sent two batches of poor quality, which led to my listing attracting bad reviews.”
To avoid a similar situation, you must ensure a few things before you start looking for an umbrella supplier. The first step should be an in-depth analysis of your business model. Make sure that you assess the market for the product, the niche market, and the quantity required for the first purchase order. Your business will be better served by choosing a supplier that is a good match for your business.
I have grouped importers into the following five categories and will provide you with practical advice for each type of importer.
<1>eBay, Shopify, Wish sellers (multiple SKUs make them profitable)
<3>An importer who specializes in the importation of umbrellas.
<4>Importers who want to develop umbrella products according to their ideas.
<5>importers who have or plan to open local supermarket chains.
< 1>eBay, Shopify, Wish(suppliers of online stores)
What all three e-commerce platforms have in common is that they ensure product diversity. That is, a seller’s store has a wide range of products and a large inventory.
Here, sellers can easily buy and maintain a large inventory of products. However, the number of orders from small and medium-sized sellers is not high because, in the initial stage, sellers must test the waters and evaluate the products they offer based on the market response. Only a small inventory is needed for each product to test the market. After a period of sales analysis, it is possible to purchase a more extensive stock for an item that has been received well by customers.
In this case, should you visit the manufacturer directly to purchase the product? Of course not! The best way to test the market is to contact several online wholesalers and purchase a small number of products. DHgate and AliExpress is the perfect place to start.
I don’t recommend Alibaba here because the starting order of vendors on the platform is usually very high. The product must be purchased for at least $1000 or more. If you just want to place an order of $300- $500 or less, most Alibaba suppliers will not accept these small orders. Even if you come across some suppliers who are willing to work with you, you won’t get the desired offer or product.
Also, if you need a delivery service such as Shopify, then Alibaba would not be a good choice for you because this huge B2B site will not offer this service. DHgate, AliExpress, or other independent distribution sites are the right choice for you.
Are you an Amazon umbrella seller? Today, you will get a plethora of practical and effective tips to boost your business. Amazon’s marketing principles are fundamentally different from those of the three e-commerce platforms mentioned above. Amazon is committed to providing an excellent experience for its customers in terms of products and customer service. Hence, the success mantra here is:
Good Products + Right Marketing Strategy = Good Rankings
Therefore, for Amazon sellers, good products and a stable supply chain are vital for business. You should be extra careful when looking for suppliers. I have some young customers who sell umbrella products on Amazon and have already won their first bucket of money.
It’s worth noting that if you’re looking for umbrella suppliers on Alibaba, some suppliers can set starting orders as high as $2,000. Don’t give up; try to talk to the supplier; there is usually still some wiggle room. You can get a lower starting order, but that means the price could be 20% higher. If the supplier is reliable and the quality of subsequent products is guaranteed, I recommend not worrying too much about the starting price. When sales volumes stabilize, you can slowly increase the starting volume to lower unit costs and increase profits.
In addition to searching for umbrella suppliers on Alibaba, you can also attend some of the umbrella exhibitions in China. Visiting China allows you to communicate with suppliers to negotiate better deals directly, and you may even find items that are not available on Alibaba. Some unique umbrella products.
If you are an Amazon seller and have read this part of the content, I am sure you will be impressed.
<3> Importers Specializing In The Importation Of Umbrella Wholesale Products.
This section focuses on the importers of umbrellas. As a unique consumer product, a seemingly simple umbrella requires knowledge of various technical parameters, materials, etc. to assess quality. On top of that, there are several variations of each different umbrella product, making it more daunting to inspect the product by appearance alone. Whether you choose to buy from an online supplier or hire a purchasing agent, experience in the umbrella product category and expertise is all-important.
Here, I will detail the pros and cons of both buying options so you can make the right choice. Read on!
You can choose to browse Alibaba to find relevant umbrella suppliers or deal with the shortlisted suppliers yourself. However, if you have a lot of product lines, you must spend a lot of time trying to find suppliers for all product categories. This is indeed a tedious task. In this case, if you can find a reliable supplier through Alibaba, you can train him to be your sourcing agent. Let him help you source other related products. The advantage of using this strategy is that you will be able to utilize the services of industry professionals and use their network and resources. You will also save time in searching for the products you need and their suppliers.
Hiring a sourcing agent is also a good option. However, it is essential to consider the agent’s understanding of the product category. In addition to this, you must also find a sourcing agent who is very professional and experienced in the industry. You can’t just find a buying agent who mainly deals with everyday consumer goods, as they will spend more time researching your product. On top of that, the agent is likely to find a supplier that you may not like.
There are pros and cons to both options. You can weigh them and determine the best option for you.
<4>Develop Umbrella Products Based On Your Ideas
Many people have their product ideas. Of course, conceiving them into tangible and marketable products is not as simple as printing logos or replacing product materials. I’m talking about innovations in the performance and appearance of umbrella products. In this case, I wouldn’t send you directly to a sourcing agent.
In the absence of experience in product development and importation, the general idea is to go to Alibaba to find the relevant umbrella supplier to find out more. Get more details, then visit your feel-good umbrella supplier directly in China. Let them help you develop and implement your product ideas. The only downside to this approach is that it takes a lot of time to deal with the factory and all the work you need to do yourself. If you are unlucky, the umbrella supplier will offer you an unreasonable price for a product that otherwise will not be of the quality you expect.
Try finding a sourcing agent to help you if you can’t find an umbrella manufacturer that you are happy with. They will be able to find the right umbrella manufacturer from all over China, according to your product design requirements and budget. The surprising fact is that agents can find umbrella suppliers that you won’t find on Alibaba or even at trade shows.
More importantly, they take you to the factory, help you negotiate with manufacturers, and visit the latest product showrooms. They act as negotiators, translators, and supervisors to ensure that all your requirements are met.
Of course, some of China’s major fairs are also good places to find suppliers of relevant umbrellas. However, to find these umbrella suppliers at fairs and exhibitions, you must visit China at regular intervals and attend fairs every year!
<5>Importers Of Local Umbrella Chains
Importers who open local umbrella chains usually offer tens of thousands of products. It is possible to purchase several umbrella products from their home country, but a wide variety of umbrella products must be obtained from China. However, importers who have no experience buying from China find themselves worrying about many factors, such as finding the right umbrella supplier, regulatory compliance and shipping, etc.
Honestly, you can find umbrella suppliers in China yourself, but believe me, it’s a daunting task. You will have to spend a lot of time looking for suppliers of umbrellas in all categories. The best way to do this is to have only one source, so outsourcing is the best option.
Most major retailers (e.g., Walmart, Costco, Carrefour, etc.) do not source their products in China themselves, but rather through trading companies or sourcing companies.
Contact With Umbrella Wholesale Supplier Now!
2. Six Types Of Umbrella Suppliers In China
Now that you have read my detailed instructions on the best options for buying umbrella products from China based on your business model, I hope you have a clear understanding and have taken the first step. Let’s move on to the next stage. In this chapter, I will explain in detail who these so-called Chinese umbrella suppliers are and what their exact role is in the umbrella supply chain, and how different umbrella suppliers work together. First, I will divide all Chinese umbrella suppliers into six categories and then introduce them separately.
<2>Umbrella Trading Companies
<3> Umbrella Suppliers In The Domestic Wholesale Market
<4> Purchasing Agent Or Procurement Company
<5> Small Wholesalers Or Direct Shippers
<6> Backlog Wholesalers
The manufacturer is the source of all the different types of products available in the market. For you, the manufacturer is the supplier that will provide you with the umbrella product at the lowest price.
There are two types of umbrella manufacturers in China. The first are those who do not have their own English-speaking salesmen. They usually work with domestic trading companies and purchasing agents to sell goods to foreigners. This type of manufacturer usually has the best prices for umbrellas.
The second type of manufacturers is those with their own English-speaking salespeople. They usually attend exhibitions in China and abroad and have their own online umbrella store on Alibaba. Some of these umbrella makers also have their own independent websites online and are even obsessed with online marketing.
You can search for them on Google. The prices available in such factories are relatively higher than those of manufacturers who work through trading companies. However, at the same time, their prices are lower than those offered by the trading companies. Moreover, their starting order quantity is usually very high. So, if you find such a factory on Alibaba, you can expect a starting price of more than $4000-$5000.
If you specialize in umbrella products or want to develop your own umbrella products, then umbrella manufacturing companies will be a good fit for you. They will usually provide you with extensive advice on product design and also help you develop your product at the lowest possible price.
<2>Umbrella Trading Companies
Trading companies are also known as middlemen, and they also help importers buy and purchase products from China. There are many trading companies on Alibaba, and you may even stumble upon an umbrella factory on Alibaba that is actually an umbrella trading company! However, most of the time, you are not sure if the umbrella supplier you are working with is a factory or a trading company, especially if it is your first time using Alibaba.
Some umbrella suppliers will tell you directly that they are trading companies that can help you find a good factory. This is true. Usually, trading companies work with many factories, and it is not difficult for them to find a suitable factory. Trading companies are committed to providing trade services and have their own English-speaking salespeople, so they are more comfortable communicating with them.
In addition, because of the long-term relationship between the trading company and the factory, you can get a lower minimum order quantity (usually $1000-$2000 at first).
<3>Purchasing Agent or Sourcing Company
Such companies don’t sell their own products. They are more focused on sourcing services. You can enjoy complete import services, including sourcing suppliers, production follow-up, quality checks, and shipping arrangements. As a result, many Amazon sellers prefer the services of a sourcing agent.
Sourcing agents are more flexible compared to trading companies. They can help you find any product you want in China. Frankly speaking, a sourcing agent is your representative in China. You just need to tell them what you want, and they will buy the product for you.
Hiring a purchasing agent is the best option for people who need to buy several different types of umbrella products from China. For example, if you need to buy three different umbrella products from China, you may need to find a separate sourcing agent for each type of umbrella product supplier. In addition to this, you must find at least five different suppliers to compare for each umbrella product to find the best option. If you only handle three different umbrella products, you will have to find 15 or more umbrellas suppliers. Now, imagine how many suppliers you would have to find and deal with to sell dozens or hundreds of umbrella products.
In addition to some Amazon sellers, many experienced umbrella importers also choose sourcing agents to help them. Just like finding a reliable umbrella supplier, it is crucial to find a good sourcing agent. A good and reliable sourcing agent can help your business achieve profitable and sustainable growth.
<4>Umbrella Suppliers In The Chinese Wholesale Market
Are you planning on exploring the wholesale market in China? Well, you may find better prices on umbrellas than those offered by online suppliers. In China, the leading wholesale markets are in Yiwu, Guangzhou, and Shenzhen. Many large and small factories are also concentrated near these three cities.
Things to look for when entering the wholesale market in China:
- You can’t pay by wire transfer in a market where most suppliers don’t accept US dollars, only RMB.
- Find a translator in advance to help you communicate with suppliers.
- Find freight ahead of time to help you arrange timely shipments. You can also negotiate with them regarding imports.
- Or forget the first three points and find a local purchasing agent to help you complete your purchase in the wholesale market and then arrange for shipping to your country.
<5>Small Umbrella Wholesalers Or Direct Shippers
Small wholesalers are usually found on DHgate, AliExpress, and other distribution platforms. Often, wholesale starting orders are lower here.
Dropshipping offers a retail fulfillment option where the store does not keep an inventory of the products it sells. Instead, when your store sells a product, it buys the item from a third party like Shopify and ships it directly to customers. As a result, you will never see or handle the product yourself.
If your customers require high-quality products, it is recommended that you do not use small wholesalers or direct shippers as you cannot guarantee consistency in product quality. These small wholesalers don’t buy much from manufacturers and usually buy from different factories. Therefore, it is difficult to ensure that the quality of the goods will be the same every time. You can test the market in this way at the start of your online business, but it is definitely not a long-term solution.
Backlogged products are products that are overstocked by manufacturers and wholesalers. Products that have minor defects but are usable are also considered backlogged. Since wholesalers need to get rid of these products, they are usually sold at reduced prices.
You can buy a pair of jeans for less than a dollar in a backlogged market. You can buy a toothbrush for a few cents. This is not surprising; please consider purchasing the product and selling it back at a local market in your country. Thousands of people from different countries come to China’s backlogged markets every year, so you are not alone.
The two largest backlog markets in China are Guangzhou and Yiwu. If you want to buy backlogged clothing, go to Guangzhou, and if you’re going to purchase everyday consumer goods, go to Yiwu. There are two overstocked markets in Yiwu, Wuhu, and Jinfuyuan.
Note: When you go to China to buy backlogged items, you must pay attention to the logos on the products to check for any trademark infringement. When you buy backlogged inventory, you will always find products with Nike, Adidas, or Gucci logos on them. Even if some of the logos are someone else’s private trademarks, be careful because customs clearance for products with logos is not always smooth. Therefore, the best thing to do is to avoid buying products with logos or ask your supplier to remove them for you.
Yiwu, Guangzhou, and Shenzhen are the three largest trading cities in China. The wholesale markets in each of these trading cities attract suppliers from the surrounding industrial belt. For example, in the Yiwu market, you can find suppliers of umbrellas from the southeast coast of China (Yiwu is a city on the southeast coast of China).
Yiwu has the largest wholesale market in the world, with over 70,000 stalls. The Yiwu wholesale market has five primary zones, each with 3-4 floors. All areas are connected, and the layout of all shops is very standard. If you are looking to buy umbrellas, all the umbrella suppliers are concentrated in one area. You can easily compare the price and quality of products from multiple suppliers.
The layout of the wholesale umbrella markets in Shenzhen and Guangzhou is not as standardized as the Yiwu market. Shops with the same products are not clustered together, so you may find it challenging to search for different suppliers and compare their products, and the whole process can be time-consuming.
Of course, China is a labor-intensive production country. These three cities are only the most popular trading cities in the industrial zones.
There are two types of exhibitions in China, comprehensive exhibitions and professional exhibitions.
Comprehensive exhibitions are easy to understand. The Canton Fair is one of the most famous comprehensive exhibitions in China. You will find a wide variety of product categories at the fair.
A specialized exhibition only showcases products from one category. The advantage is a very rich resource of suppliers in one product category.
You can find umbrella suppliers on many e-commerce platforms such as Alibaba, Global Sources, Made in China, DHgate, AliExpress, and many more.
The differences between these platforms have been shared in many of my articles. In fact, the approach to finding an umbrella supplier online is similar. You need to remember the tips I’ve shared with you, and all that’s left to do is take the time to find a supplier. The same goes for anyone; there are no shortcuts.
There are several different types of products on Alibaba, and there are relatively more suppliers on Alibaba than on any other B2B site. Many people are always trying to find a way to identify whether a supplier is a trading company or a manufacturer. I recommend that you don’t put too much effort into it at first. All you must do is strike a balance between the quality of your product and the price. As your business model matures, you will also gain more and more experience with suppliers, and then you will meet more cost-effective suppliers.
Alibaba is a great place to find suppliers, but you should be aware of some misconceptions.
When looking for umbrella suppliers on Alibaba, suppliers marked as “Gold” are not always good. The truth is that you can become a gold supplier as long as you pay Alibaba an annual fee of about $4,000. As a result, almost everyone on Alibaba is a gold vendor. You are using this as a criterion for judging suitable suppliers incorrectly.
Alibaba has a different search ranking mechanism than Google. When you search for umbrella suppliers for a specific type of umbrella, the top-ranking listings may not always be good ones. Its good rankings are usually based on expensive advertising rates.
Global Sources and Made in China
If too many vendors on Alibaba are giving you a headache and driving you crazy, then Global Sources and Made in China are the better choice. You won’t find many umbrella suppliers here, and your chances of finding a reliable umbrella supplier are higher. Why?
Because both sites have much higher audit standards and fees for their members, in addition to being able to screen some of the most reliable umbrella suppliers on the market, it is possible to choose other umbrella suppliers. The likelihood of finding direct factories is also higher on Global Sources and Made in China. Both platforms also have higher minimum order volumes than Alibaba. If you deal with machinery or electronic products, we recommend that you go to Global Sources and Made in China.
For example, if you want to develop an umbrella of your own design, it’s more efficient to find a supplier on both sites, and the supplier will be more professional. Keep in mind, however, that these sites also have a higher minimum starting order than Alibaba.
AliExpress and DHgate
The minimum starting order for these two sites is very small. You can place an order for just a few hundred dollars. However, the downside of AliExpress and DHgate is that when you reorder from the same supplier, the product quality may vary from your first order.
Don’t be surprised! The suppliers on both sites go to many different factories to buy the same product. Therefore, they cannot guarantee consistent quality every time. Therefore, if you run a long-term business, or are an Amazon seller, I would not recommend buying from either site.
Many of the vendors on AliExpress and DHgate also sell their own branded products, and they are more interested than other vendors in product quality. However, the problem is that if you buy from these brands, others will also buy them. Therefore, it is difficult to differentiate yourself from your competitors.
<1>Some Tips For Overcoming Scams
iPhone X for $100? It’s unbelievable, and it’s a scam. You should be extra careful if something doesn’t make sense according to the market. You don’t usually encounter such ridiculous things in the purchase of everyday items, but it is still a good idea to remain vigilant. Sometimes things can go wrong, for example, you pay money to a supplier and don’t receive the goods. But don’t worry, most Chinese suppliers are now doing legitimate business.
Usually, Alibaba’s umbrella manufacturers obtain patent certificates for their products. If the umbrella trading company resells the factory’s existing branded products, they will have the factory’s license.
The trouble that many importers encounter is that the quality of the mass-produced product does not match the sample. I will provide you with some advice on how to resolve this problem.
Before placing an order, you should test the umbrella supplier on all aspects of the product and have them send you samples. While you can’t avoid the risk entirely, you must try to prevent certain complications.
For example, ask your umbrella supplier if you can trade with Alibaba rather than PayPal’s trade guarantee. Although you can request a refund this way, the process is complicated, and if your item does have a quality issue, it may not be possible to get a refund.
Even so, why use this method? Because the umbrella supplier is committed to you using this method, it shows that the umbrella supplier is confident in the quality of its products.
If your umbrella supplier is not on Alibaba, then you should be extra careful. Check their business licenses under their company name and certificates for umbrellas exported to other countries. If these things are legitimate, it is proof that the supplier has been selling the product for a long time.
<2>Four Key Points Of A Good Umbrella Supplier Worth Working With For A Long Time
Regardless of where you are looking for umbrella suppliers, Alibaba, Google, or some exhibition – all good suppliers will have the following four characteristics.
1.The Right Balance Between Quality and Price.
Even ff you have been in the market trying to find cheap products for a long time, I’ll bet that you won’t be able to buy from a supplier that is 15% cheaper than the lowest price in the industry. In business, you get what you pay for. Adjust your budget in a way that ensures the quality of the product. The lowest prices can come with inferior products and sometimes even scams.
Not long ago, an Amazon seller sent us an inquiry in search of a custom umbrella. We gave him three price points and materials to choose from. But he thought the prices were high and found a supplier who offered him a custom umbrella for $1.85 cheaper than ours. Three months later, we received an email from him stating that he had purchased a total of 1,000 custom umbrellas, but had only received 927, and some defective products. He asked us for advice.
I just want to say, don’t try to save a little money and end up losing a lot.
2.The Expertise Of The Vendor Salesman
I think a qualified salesperson should be very familiar with the product he is selling. He knows its materials, the price differences between different materials, the advantages and disadvantages, and the relevant certificates required for import and export. When you ask a question, a good salesperson will save you time by giving you several options and letting you choose the best one, but a lousy salesperson may not be able to answer your questions.
What about salespeople at China Trading? Most of them are college students who have not graduated and can communicate with foreigners using some basic English. They do not have much experience in international trade. If the product is more complex, such as some chemical or engineering products, they may not be as specialized as you.
If you think the quality and price of the product is still good, but it is difficult to communicate with the salesperson, write an email directly to the owner of the company and ask him to give you a better, more professional salesperson.
Whether at Alibaba or the expo, the salesperson assigned to you by the vendor is random. Once you show them that you are a big buyer right from the start, they will send you a salesperson who has been with the company for a long time!
Time is money, so effective communication is vital. In international trade, communication relies heavily on email. In some parts of Europe and the United States, the time difference is significant and can cause delays in response. Using common chat tools can solve this problem. Some Chinese suppliers may use WhatsApp or Skype, but they may not be able to check messages on time, and some providers do not use them at all.
It is recommended that you install a Chinese application such as WeChat on your phone. In Europe and the US, not everyone uses WeChat to communicate, but in China, everyone uses it in their daily lives. They will get back to you at any time, even on weekends, as Chinese people work hard.
If the salesperson does not respond to emails after hours, consider changing your salesperson or vendor. Timely communication can solve most of your problems and make the process smoother.
4.Accountability–Attitude To Problems And How To Solve Them
Responsible suppliers will treat all orders equally, regardless of size. Many suppliers on Alibaba treat small orders (just at the minimum order size, or less than the minimum order size) equally. The reason is that they are interested in doing a transaction with you. As a result, they will offer you a higher price and won’t care about your order.
Buying an existing branded or customized product (especially a batch of products) from China, from production to import to your country can be a complicated and time-consuming process. There are challenges in the process, especially if you are importing from China for the first time. That’s why it becomes even more important to choose a responsible supplier.
Besides, there are bound to be small challenges and obstacles in the production process. For example, logos being printed in the wrong location, or unchanged requests for modifications, and so on. Here, the key to making sure that everything is going correctly is the attitude of the supplier towards these issues. If a supplier avoids responsibility when a product has a problem or is unable to compensate for the problem by fixing it, then he is not a good supplier.
A good vendor understands the truth about win-win situations and is willing to take responsibility for his mistakes. He will make himself unprofitable by having some unexpected problems, but he will not let you suffer unreasonable losses. He will always have a positive attitude regardless of the size of the order because he wants to build a long-term relationship with you.
In business, you should always do your best to create favorable conditions for your business to flourish. Here, I would like to share some of my years of experience in dealing with suppliers.
<1>Offer Better Payment Terms
Due to their steady cash flow, some importers with extensive expertise tend to grow each year rapidly. Regardless of the size of the business, cash flow is king. This is especially true for e-commerce businesses (such as Amazon and Shopify). Now, let’s roughly calculate the cash flow cycle.
For Amazon, you pay in full when you place an order. Let’s say shipping will take 1-1.5 months, and the item tends to sell out within two months before Amazon releases the funds (Assume 30 days). If all goes well, then your return on investment will take at least four months. If you are not getting investment from someone else or borrowing from a bank, then your annual business growth will be limited.
If you want to grow your business from $100,000 to $1,000,000 per year, then a vendor can financially provide you with critical support. Getting their help right from the start will be more challenging. However, if you have reordered the same product more than three times, try talking to the supplier and getting a good deal.
For example, our company purchased merchandise for an importing company in Europe. The importer purchased $500,000 in the first year, and we helped him grow his business eightfold in the first three years. After about six months of successful cooperation, we were able to build trust between us. Now there is no deposit required to place an order; they just pay in full before the container arrives at the seaport in Hamburg, Germany.
A good supplier can offer you better payment terms. Usually, there are three payment methods.
- Wire transfer (30%deposit before production and 70% of balance before shipment).
- Wire transfer (30% deposit before production and 70% of the balance before the arrival of the goods at your country’s port)
- LC and OA (letters of credit and opening of accounts)
30 % and 70% For Wire Transfers (Pre-Shipment)
In this way, the supplier requires a 30% deposit when you place your order, and the balance 70% can be paid in full before shipment. The supplier will then arrange delivery to your country. Most suppliers use this payment term, but it doesn’t help your cash flow much.
Wire transfer 30% and 70% (before arrival at the port)
This method also requires a 30% deposit from you and 70% of the balance to be paid before your shipment arrives at your country’s port. You then pick up the bill of lading given to you by the supplier and pick up your product at the port. If your product is shipped to the West Coast of the United States, it means that you have earned at least one month of delivery time.
LC and OA
In short, an LC is a promise to pay from a bank designated by the supplier and issued by the importer’s bank at its request. In other words, the importer promises to reimburse the supplier at some point in the future, so the LC has a potential role to play in financial security.
OA has high demands on the supplier’s liquidity and the importer’s reputation, which means you should have a good import record, and your supplier should also have strong financials. Walmart usually uses OA.
Exchange rates are dynamic data that change in real-time. It is usual for it to vary between 5% and 10% in a half year or a year. You don’t have to worry about whether the fluctuations are substantial or not, because suppliers don’t adjust product prices for small changes in exchange rates.
For example, if the rate drops from 6.5 to 6.2, it won’t affect the price of your products too much. However, if the exchange rate drops too much and the value of your goods is high, in that case, you can negotiate with the supplier to update the product prices. For example, if the exchange rate for one day is 6.9 and falls to 6.2, at this time, the supplier will adjust the price for you.
<3>When You Want To Purchase New Materials, Please Consult Your Old Supplier First.
A reliable long-term supplier is also a resource for you, and you should make good use of them. When you want to buy a new product, you can consult your old supplier. You can ask them to purchase the product for you. It not only saves time but also reduces the potential risk. If you can get information from your old supplier about the supplier of the product, even if you buy it yourself, it will bring you great Help.
<4>Ask Your Umbrella Suppliers To Recommend New Designs Or Products
In business, timely and accurate information is priceless. If you run a fashion product business, you should always be aware of trends and what your competitors are selling. You should also be proactive in asking your suppliers for their latest products for the season. You must get the most popular products the first time around to sell first and make more money.
Suppliers will continue to improve their products based on customer feedback. For example, many of the supplier’s customers have asked for leather on the bottom of the canvas diaper bag. At this point, you can also consider whether you need to upgrade your product.
All in all, information from suppliers is also important for your product ideas.
I have written many blogs before. Let me list some of them below, which deal with importing various umbrella products from China, China’s major wholesale markets, and some true stories from customers, both successes and failures. I want to share them with people who are lost, and I hope you will read my article, and a light will shine in the darkness.
Now it’s your turn. Thank you for coming along with me.
I hope this article has shown you everything you have never found before finding great umbrella suppliers in China.
Now, I’d like to hear your thoughts as well. Are you ready to try any of the ideas in this article? Are you starting your import journey?
I know that some of the points in this article may be confusing. Either way, please let me know in the comments section below.
Share Your Idea With Us!