In The News

Wed 31 Aug 2016

The Canton Fair – Want To Go?

Finance & Insurance

What if there was an event that allowed you to avail yourself of around 20,000 to 30,000 opportunities to find the product you have always wanted to source from China? It would be considered a can’t miss opportunity, and a once in a lifetime event, I guess. What if I told you that you have this chance every year? Not just once, but twice each year! Moreover, you will find more than 150,000 products to choose from!

There is such an event in China. It is called the, “China Import and Export Fair,” or more popularly, the Canton Fair. The second session for this year is coming in October.

The Canton Fair has an edge over the other trade exhibitions in China and around the world, just by the sheer size and number of exhibitors who participate. The organisers also make sure that the exhibitors are reliable suppliers. This year, the fair’s official website indicates that there will be around 24,000 Chinese companies participating.

Now before you jump in front of your computer trying to find the first available flight to Guangzhou, China, think about the volume first. You need to understand that the sheer number of products being offered and the size of the event makes it impossible for you to comb through all of them.

I have seen so many make the mistake of just jumping on the next plane to China, thinking that taking chances with attending such a huge gathering, will ultimately net them a supplier or two. What most do not realise is that a big part of the work starts even before they arrive in China!

You must go to the fair knowing what it is that you are looking for. Find out what the fair market price is for the product that you wish to import. Without this, you may end up with uncompetitive acquisition prices for your goods. In this case, you are already behind the eight ball before you event start.

It is also helpful to have a database of suppliers to choose from. Knowing and working with experts in China who already have such information, will eliminate unnecessary delays or negotiations with suppliers who may not be the ideal match.

I hope these simple guidelines that I have suggested prove to be of great value to you. They may look simple, but it is usually the simple steps that we overlook.

Are you interested in going to this year’s Canton Fair? Leave me a comment below if you are considering it.

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