China Sourcing Adventure
China, what is it?
We have extensive China sourcing experience, we have been travelling to China for the past 10 years. Over 40 trips to China and Hong Kong and it turns out this question does not have a specific answer. The end 😊 Kidding, please keep reading.
When we started our company in 2006, we were young (and yes probably dumb, I mean naive) – just going to China to look at factories, develop relationships was a little surreal. Looking back now without our brilliant HK staff we would never have been able to make it through. But the first time I exited the border crossing from HK into China, the sights, sounds (smells too – stinky Tofu anyone?) were amazing. We were hooked.
Change is the name of the game
China sourcing has of course changed form the first time we went; factories have matured and streamlined how they interact with the western markets. Factories and retailers, are working in lock step to develop and produce new products. Manufacturers on the cutting edge are creating, patenting and developing at rates that will out pace most western companies.
The market in China is emerging and the purchasing power it represents is staggering. For example, every year on 11/11, China has a day called Singles Day…do you see it? 11/11 looks like single people, hence the name. This is a day that people spoil themselves with something – to make you feel good if you are single. On this day Alibaba saw US$17.9 billion of commerce on their site in 1 day. 1 DAY!! For contrast, Cyber Monday an American and now worldwide shopping event, Amazon saw US$3.45 billion in sales that day.
China is unlike anywhere else, it occupies its own space – it has times when it feels like the wild west and at times adheres to very rigid conformity. It can be luxurious while also just being plain exhausting. China could be compared to a teen just graduating high school, not 100% sure of who they are yet but they have strong desire and passion, their identity is changing and they are realizing the power of their potential.
Summing up 10 years of experiences in one blog post is not possible- but if the first 10 years are like the next 10 years we can’t wait!
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