- Current Retail Markets
- Tips for better performance
- Why I buy wholesale products from China
- Top 5 wholesale vendors
- The wholesale convenience
The wholesale market in China is among the largest in the world; being a significant producer of various products, China is a large market for a majority of items from clothes to electronics, among others.
The wholesale markets are both offline and online, and the supply is to a worldwide market.
Due to the numerous suppliers available in the Chinese market, competition for the demand is high.
Hence, the manufacturers and suppliers of products will always aim to produce goods that can sell quickly.
The Chinese wholesale market is keen on supplying the latest trends at competitive prices to fulfill market demands.
Current Retail Markets
As of 2019, China’s retail market was estimated to be 21% of the global retail market, making it the second-largest market after the USA.
The retail market is also projected to increase over time, with China becoming the world's largest retail market.
However, the retail market has been dramatically affected by the COVID19 pandemic, which is yet to be managed entirely; this is because many systems have had to change, which is true even for the retail sector.
Initially, most of the items that sold fast in the retail market were the fast-fashion items and other presumably luxury items.
With the pandemic, the focus has shifted, and people are now looking for essential items and other everyday items that they can use.
The primary cause of this is the lockdowns imposed across many countries, and people could not travel anywhere, which caused a shift in the items purchased.
Though the lockdowns and restrictions are easing up, the retail market is yet to recover fully, and the buyers are still not looking for the items they bought before.
One of the changes currently happening in the retail market is the shift from the traditional brick and mortar business model to the eCommerce platform.
This shift can be attributed to the convenience that the eCommerce model brings as people can shop from anywhere in the world and anytime as long as they have access to the internet.
People will always go for what is simple and saves them time, and shopping online offers that option as you do not have to spare time to go physically to the shop to buy products.
The current generation of buyers is more aware of the current sustainability issues facing the whole world, which significantly influences their choices on what to purchase.
This, therefore, means that the recent buyers of retail products are keen on finding out the materials used to make products and the process that has been used to make them, and what happens when they are done with the product.
This is the circular economy's primary face, which is the current world trend, with companies being forced to be transparent about the supply chain process.
Tips for a better performance
Though the pandemic has changed how the retail sector is performing, there are a few factors you may want to consider to have a better performance in this current situation;
Ensure that you have put safety precautions in place
Since the pandemic has changed how people interact, many customers will be keen to follow up on the safety precautions in place.
You need to ensure that your workers and your customers' health are given the highest priority by following the guidelines that have been put in place to control the spread of the pandemic.
Have a website
Currently, having an online presence is a sure way to survive the changes that are happening in the global retail market.
Since people will prefer shopping or searching for products online, your store must be found through an online search.
Use the website to display the items in your inventory to allow the customers to know what they can access from your store.
Consider using the click and collect method
Many retailers are currently offering the click and collect method of shopping.
The click and collect method is where the customers shop online but come to the store to pick the items without leaving their cars.
This is meant to lessen the number of interactions that may happen in a store, but this mode of shopping is one that may last a while.
Increase your marketing
Marketing is the only way your customers will know you exist and the type of products you are selling. Marketing can be done through the various social media platforms, which can be used to push the products to the target customers either by using social media influencers or using the trending hashtags or challenges to push the product on the various platforms.
Consider having appealing visuals
In most instances, customers will be pushed to buy a product based on what they see.
Ensure that the visuals for the products, both in-store and online, are appealing to attract customers.
You can decide to use LED lights, art, or unique product arrangements to create a focal point for the product you need to sell.
Offer exceptional customer service
In the retail sector, the customer is always king, which means they should be treated as such from the moment they walk into your store.
Ensure that your workers are helpful and polite to enable the customer to get the best experience while shopping in your store; this will allow you to stand out, and the customers will always want to come back for the experience.
Why I buy wholesale products from China
Recently there has been a lot of hype about purchasing products from China, and this is something that I would recommend for specific reasons;
Products are cheap
The wholesale products in China are cheaper than those bought locally, as the local stores will most likely include overhead charges to the product's total cost. Since there are numerous suppliers and manufacturers in China, the prices are equally competitive, meaning you can get products at very affordable prices.
High production
The Chinese manufacturers will produce many product units per given time; this does not mean that they will be of lower quality. The high levels of production will ensure that the products are readily available at any time.
Product diversity
The Chinese market allows you to get any and everything in wholesale should you wish. Since there are many manufacturers, there will also be various products produced, which means that the Chinese wholesale market is a one-stop-shop for all of your business needs.
Direct sourcing of products
The Chinese wholesale market is easy to maneuver, and this eliminates the need for intermediaries. You can quickly contact a manufacturer and have them provide you with a product without going through the complicated steps of using someone as an intermediary between you and the manufacturer.
Easy to negotiate terms
Since you will be sourcing the products directly, it is easy for you to negotiate the various terms of payment and product delivery. Negotiations may also be in terms of the product quality and quantity as you can choose to customize and brand the product based on your preferences.
Top 5 wholesale vendors
As we have learned, the Chinese market is among the largest market for wholesale purchases; therefore, various vendors are available. We shall look at some of the best vendors in the market;
Nihaojewelry
If you may be sourcing for fashion jewelry and accessories, Nihaojewlery, is among the top producers of trendy jewelry pieces at very affordable prices. Apart from jewelry, the company also supplies other products such as women's clothing, shoes, and handbags. With no minimum order quantity, you can purchase just about any amount of products you may need and have them shipped to your store or residence.
Aliexpress
Aliexpress is an eCommerce platform that hosts a large number of vendors in the Chinese market. The platform offers variety and affordability as each supplier will try to set their prices to attract customers to their store. The platform facilitates payment, customer inquiries, and shipping to ensure that your shopping experience is seamless.
Chinabrands
Chinabrands is an eCommerce platform that includes various suppliers who offer a wide range of products at affordable prices. The platform provides dropshipping and product distribution to ensure that you can comfortably purchase products from anywhere in the world.
Light in the box
The company is an online retail service that provides products ranging from apparel, gadgets, and home and garden appliances. The service offers over 22,000 product listings at affordable prices to enable you to run your wholesale business efficiently.
Chinavasion
Chinavasion is a website that offers electronic goods at affordable prices. The products are of high quality, and the supply of products is constant to ensure that you have products readily available to run a business.
The wholesale convenience
Before, buying goods wholesale was a complicated process with a lot of steps and procedures.
Still, with the new online market, everything has been made more accessible, and now you can shop for anything and everything right where you are, which is a plus if you want to run a business hassle-free.
