Trading With China - A Complete Guide
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It stands as a contract of carriage of goods.
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AWB Airway bill is a type of bill of landing that enables tracking of the cargo. Once the airplane departs, the cargo rights will be changed from the supplier to that of the consignee. Airway Bill serves as a receipt of goods by a carrier, contract of carriage between the shipper and the carrier. AWB is a non-negotiable instrument and does not state the flight that the shipment will arrive with or the time of delivery. Knowing the estimated delivery date will enable you to determine how long it will take you to get your item.
It is the cheapest means of transportation when importing products from China. LCL refers to a cargo that is owned by different importers and grouped together in one and the same container. It enables importers to ship a small amount of cargo that are not large enough to fit into the FCL option. POD Port of Destination refers to the intended final point of arrival of a shipment. POL Port of Loading refers to the place where the cargo is loaded by the carrier onto the ocean vessel.
Its basic unit is the yuan. PI Proforma Invoice signifies a sales contract or an estimated invoice that is being sent by a supplier to an importer in advance of a shipment or delivery of goods. It portrays the nature and quantity of goods, their value and other important information like weight and transportation charges. They are often used as preliminary invoices with a quotation or for customs purposes while importing goods.
Chinese suppliers are utilized to 10, amount orders for their domestic industry. Therefore they typically look down at something under portions, which does not all the time fit well with a small-scale business or start-up.
Do You Want To Import Now?
A number of trends have emerged that effect how people do business in China, for example, solid economic expansion of rural areas in China, rapid market changes and government reforms have transformed China from being a country for low-cost manufacturing to an attractive destination to carry out business transactions. Intense competition, corruption, business etiquette, language and cultural barriers all hamper small businesses succeeding in the Chinese marketplace. This implies a blend of understanding culture, public perception, social roles and self-esteem.
These can either destroy or build business relationships. On the other hand, entrepreneurs can lose face by insulting someone in public, turning down invitations or by behaving in unacceptable manners that are considered as a lack of self-control. The above examples are extreme, however, things like addressing a person when meeting them can play a pivotal role in building business relationships. Chinese business people respect cultural differences and will not expect foreigners to fully blend in with their culture.
One thing you need to know is that Chinese are very pragmatic. If you have what they want, they will be willing to do business with you. One factor that is important in running a successful import business from China is developing mutual trust. Furthermore, you need to treat whoever you are dealing with respectfully.
One of the hardest decisions to make for those that want to start importing products from China is choosing the right product to import. Importing clothes, shoes, handbags or electronics, stationery is very popular. But this section is about selling products from china and how you can choose products that can be purchased off-the-shelf wholesaled from China. The most important thing is pay attention to product details that will be profitable for you. You need to know your niche to choose the right product when importing from China. Your hobby or area of interest is a good starting point in identifying which product to import.
The best niches to operate in are those where major retailers do not operate in. See below a quirky example, customised toilet role.
You can easily identify a good niche by visiting a magazine stand at your local grocery store. Higher ticket items will give you more room for error. You can go for lower ticket items when you have experience and have a deeper idea of the true costs of the entire process. Importing products that hurt someone is one thing you want to avoid by all means.
Product liability can ruin your business. Go for products with low risk. One of such products is dining room furniture. This will reduce the shipping costs and improve your ROI. It is important to note that these products must have high value. Import from China sell on amazon is very popular by using the Amazon Best Seller Categories Tree is another useful method that can be used to determine what products to sell. For instance, if we use Flying Toys, we can have:. Using the Amazon related search suggestion as below:.
Do not import counterfeit products. For instance, if there is a product with brand names such as Samsung, Gucci, Rolex, Apple, etc. This is a very important step that helps you to avoid wasting time and money on a product that no one needs. Google Trends can be used to validate your product ideas.
It tracks the terms that people search for. You can refine the search results by using time period and location to see the relative popularity of search terms at a glance. Google Trends will give you insights into the different search terms that have changed across time. It will also give you an idea about the trends changing within the last few hours or days. You can use Google Trends to validate your product idea in the following ways:. Google Trends will enable you to see the number of people that have been searching for products that are similar to yours and to know the direction of the trend whether upwards or declining.
You will be able to know how the trend is doing in real-time. You can also use Google Trends to find products that are popular. With Google Trends, it is easy to look at crazes that were once in vogue and see what their lifespan looked like. This will go a long way in helping you to decide if there are irregularities in your product. Seasonal products can be researched with Google Trends. For instance, in the picture below, the trend for a wig is fluctuating across the year.
These insights will influence your advertising and promotion. You can use Google Trends to search for your competitors and see how they have developed. This works for larger companies or Chinese companies that you aim to be like.
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You will be able to see how they have developed and also know when interest in their product increased. It connects suppliers and supplier directories with buyers from all over the world. Alibaba has millions of products from China and hundreds of thousands of suppliers. Here are how you can safely source from Alibaba :.
Using Alibaba supplier directories is similar to other marketplaces. You can either browse the product categories or search for the particular product that you need. You can search for a product on Alibaba by either searching for the items based on product descriptions, for instance: dog collars this will give you thousands of results for dog collar products. FOB implies that the supplier will pay costs associated with getting the product to the marine port while the buyer pays for the cost of transporting the goods to the ocean from where it will be sent to the final destination.