Today’s article comes courtesy of Owen Heane, a marketing expert with Easy Imex, import-export consultants.
Product is the key to importing. If the product does not have enough demand then it will likely not be very profitable to import. But there are products out there that can sell for a much higher price then what the buyer pays for it. Good profit potential is possible when selling in a different country. Find the right seller with the right product and things can look very up. [Editor's note: Remember that our global trade network Globial makes finding the right product and the right buyers easy, just create a free account to get started]
However, even though everything can look great it can still end up as unprofitable if the deal is not as great as once thought.
The 5 Most Profitable Imports
Here are the top 5 products to make money of through importing.
1. Smart Phones
The cost of technology varies extremely when it comes to different countries. This is due to the cost of the work to produce them and the cost of material. China is a great option to import smart phones from because of their ridiculously low prices for technology.
2. Technology Accessories
The accessories that go with some of the latest laptops, phones, or gadgets can be worth a lot in different markets. These items are made for wholesale so they are cheap to produce and cheap to buy a lot of them. By marking them up a little to sell then there is much profit to make.
3. Outdoor Games
There are some new ideas for outdoor games coming out every day across the world. One of them can catch on and if someone is importing them then they could make a huge profit.
4. Beauty Products
These products can be bought in large quantities for much lower prices then sold in stores. Beauty products will always be in demand for females so there is a low chance of the items not being bought.
5. Home Accessories
As the technology accessories are these are easy to manufacture and come in wholesale packages. Everyone uses different accessories in there home whether it is a candle holder or a flower vase.
Don’t forget you can browse through some of these products on Globial.com and find suppliers on our network.
The 5 Least Profitable Imports
Now that the top 5 is over for the most profitable products it is time to move onto the most unprofitable. These products are incredibly difficult to make a profit off of even though they may seem safe. Stay away from these if you want to stay friends with your own wallet.
1. Video Games
These electronic games are popular in their own country because they were made that way. Different cultures produce different interests and so trying to mend them together will just end badly.
Clothing is an extremely hard import to profit off of due to the fact that people already have formed biases on clothing companies in their own Country. Importing foreign clothing will just make them confused and they will ignore it.
Computers made in their native country are made for that country. The public has instinctively learned to use the laptops or desktops from their own country and will not be open to other choices.
Although it is possible to make money off of furniture it is much more time consuming than the others. Also, importing these large objects can cost a fortune that may not be remade.
Importing jewelry means that the jewelry is most likely fake. By selling these fake pieces for a low price the consumer knows that it probably isn’t a good idea to buy it. Instead, buying authentic jewelry is a more profitable business.
Andre Smith writes import/export trade business articles and has written several articles on how to import goods from China.