Choosing an Online Marketplace for Sourcing

Business Owners Looking at Tablet

October 10, 2019



With the explosion of the Asian markets and the prominence of China, it’s no wonder that so many companies are looking to source materials from China and other Asian countries. In fact, if you haven’t considered China and other Asian sources, you’re missing out on some fantastic opportunities. Asia is growing at an impressive rate, and China is leading the charge. Using an online marketplace is a great way to tap into incredible resources. Sourcing from Asia has never been easier.

Online Sourcing Marketplaces

There are many online sourcing marketplaces, although some are more popular than others. Many of them have attempted to make themselves as easy and as approachable as possible. If you want a simplified process, you might look for a marketplace that has a user-friendly website or even an app. An app makes it simply to browse and contact suppliers from your tablet. Being able to use your laptop or phone makes the process much more seamless in term of integrating into your daily routine.

When it comes to narrowing down your choice of marketplace, look for an online marketplace that delivers more than just the basics. A lot of marketplaces attempt to do nothing more than offload finished goods, but this isn’t what most companies need. Instead, try to find a network where retailers, brands, suppliers, and factories connect and coordinate together. This allows for effective sourcing while simultaneously empowering innovation and bringing private label products to market faster.

The difference it makes to virtually work in real time may surprise you. It’s like working with your partner in China side by side. It’s a much more painless process, and it allows you to stay connected and informed throughout every step of the process.

Navigating the Online Marketplace

Be sure to look for online marketplaces that are clear and transparent with what they provide and the manufacturers of the products. Trading companies are abundant online, and manufacturers aren’t always explicitly listed. The best online marketplaces generally put this information front and center, so it’s never difficult to navigate and identify what’s being offered.

Remember that the sourcing process can take time. Requested samples have to be processed, shipped, and delivered. Using an online marketplace is convenient and fast, but reviewing products isn’t instantaneous. The benefit is that the incredible abundance of products and items gives you plenty to look at and examine. Even if you have customers who are extremely selective, using the online marketplace should make narrowing down the selection and choosing quality products relatively simple.

Online Marketplace for Sourcing

Advantages of an Online Marketplace

The old-fashioned way is great for developing friendships and long-term working relationships, but you probably won’t be able to visit Asia every weekend. For companies, the main advantages of an online marketplace are its speed and convenience. An order can be submitted and confirmed with the push of a button. Inventories can be reviewed, and new products can be researched.

The cost is another advantage. Online marketplaces give you a lot of great deals. As you’d expect, online marketplaces can get extremely competitive, which tends to push prices down. This is great if you’re a new or small business and you have to make your money go further. The sheer array of products and suppliers is almost overwhelming, so you have a lot of options.

Obviously, an online marketplace is a great choice, especially compared to the slower and often more expensive old-fashioned way of sourcing. Contact TradeBeyond at 852-2378-6300 if you want to discover the benefits of an online marketplace.

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