7 Steps to Import Products from Overseas and Sell Them Online

If you want to start an online business, importing products from overseas and selling them online can be a profitable option. You can source products from countries with lower production costs and higher quality standards, and sell them to customers who are willing to pay more for them. However, importing products is not as easy as it sounds. You need to do your research, find reliable suppliers, comply with customs regulations, and handle shipping and logistics. In this article, we will show you how to import products from overseas and sell them online in 7 steps.

Step 1: Choose a Product and a Niche

The first step to import products is to choose a product and a niche that you want to target. You need to find a product that has a high demand and low competition in your market, and that fits your budget and skills. You also need to find a niche that is specific enough to attract a loyal customer base, but broad enough to have room for growth. Some examples of popular niches for importing products are:

Health and beauty products
Electronics and gadgets
Fashion accessories
Home and garden products
Pet supplies

You can use tools like Google Trends, Amazon Best Sellers, and AliExpress Hot Products to find out what products are trending and what customers are looking for.

Step 2: Find a Supplier

The next step is to find a supplier who can provide you with the product you want to import. There are many ways to find suppliers, such as:

Online platforms like Alibaba, Global Sources, and TradeKey
Trade shows and exhibitions
Industry associations and directories
Referrals and recommendations

You need to contact several suppliers and compare their prices, quality, minimum order quantity, lead time, payment terms, and shipping options. You also need to verify their reputation, credentials, and certifications. You can ask for samples, check reviews, request references, and visit their factory if possible.

Step 3: Negotiate the Terms

Once you have found a suitable supplier, you need to negotiate the terms of the deal. You need to make sure that you agree on the following aspects:

Product specifications: The size, color, design, packaging, labeling, and quality standards of the product.
Price: The unit price of the product, including any discounts or fees.
Payment method: The way you will pay the supplier, such as bank transfer, PayPal, or letter of credit.
Payment terms: The percentage of the payment that you will pay upfront and the balance that you will pay upon delivery.
Delivery method: The way the supplier will ship the product to you, such as air freight, sea freight, or courier.
Delivery terms: The responsibility for the shipping costs, insurance, taxes, and duties, based on the Incoterms rules.
Warranty: The guarantee that the supplier will provide in case of defective or damaged products.

You need to get everything in writing and sign a contract with the supplier.

Step 4: Arrange the Shipping

The fourth step is to arrange the shipping of the product from the supplier’s country to your country. You need to decide whether you want to handle the shipping yourself or hire a freight forwarder. A freight forwarder is a company that specializes in arranging transportation and logistics for international trade. They can help you with:

Booking space on a carrier
Preparing and filing the required documents
Clearing customs
Paying taxes and duties
Tracking and delivering the shipment

If you decide to use a freight forwarder, you need to choose one that has experience in your product category and destination country. You also need to provide them with the details of your shipment, such as:

The origin and destination of the shipment
The weight and volume of the shipment
The value and description of the shipment
The delivery terms and instructions

You need to communicate with your supplier and your freight forwarder regularly to ensure that everything goes smoothly.

Step 5: Receive the Shipment

The fifth step is to receive the shipment when it arrives at your country. You need to check the following things:

The quantity and quality of the product
The condition and packaging of the product
The documents and invoices of the product

You need to inspect the product carefully and report any issues or discrepancies to your supplier and your freight forwarder. You also need to pay any outstanding balances or fees that are due.

Step 6: Store and Manage the Inventory

The sixth step is to store and manage the inventory that you have imported. You need to find a suitable place to store your product, such as:

Your home or garage
A rented warehouse or storage unit
A fulfillment center or third-party logistics provider

You need to keep track of your inventory levels, sales, costs, and profits. You also need to maintain your inventory in good condition and prevent any loss, damage, or theft.

Step 7: Sell the Product Online

The final step is to sell the product online to your customers. You need to create an online store or use an existing platform like Amazon, eBay, or Shopify. You need to:

Write a compelling product description and title
Take high-quality product photos and videos
Set a competitive price and offer discounts or free shipping
Optimize your product listing for SEO and keywords
Promote your product on social media, email, and ads
Provide excellent customer service and collect feedback

You need to fulfill the orders that you receive and ship the product to your customers. You also need to handle any returns, refunds, or complaints that may arise.

Importing products from overseas and selling them online can be a lucrative business opportunity if you follow the right steps. You need to choose a product and a niche, find a supplier, negotiate the terms, arrange the shipping, receive the shipment, store and manage the inventory, and sell the product online. By doing so, you can offer unique and high-quality products to your customers and earn a good profit margin.

How to Import Products: A Guide for Beginners

If you are thinking of starting an import business, you might be wondering how to find the best products, suppliers, and markets for your venture. Importing can be a lucrative and rewarding way to expand your business, but it also comes with some challenges and risks. In this blog post, we will provide some tips and statistics on how to import products successfully.

1. Identify the products you want to import

The first step in importing is to decide what products you want to import and why. You should have a clear idea of the demand, competition, and profitability of the products you are interested in. You can use various sources of information to research potential products, such as:

Foreign import statistics

These show you which countries are importing your type of products and how much they are spending on them. You can use these data to identify the largest and fastest-growing markets for your products. You can also look for complementary products that might increase your sales potential.

Trade publications and websites

These provide industry news, trends, and analysis for different sectors and regions. You can use these sources to learn about the latest developments, opportunities, and challenges in your target markets. You can also find trade shows, events, and associations that can help you network with potential suppliers and customers.

Online marketplaces

These are platforms that connect buyers and sellers of various products across the world. You can use these sites to browse through thousands of products, compare prices and quality, and contact suppliers directly. Some examples of popular online marketplaces are Alibaba, Amazon, eBay, and Etsy.

2. Find reliable suppliers

The next step in importing is to find reliable suppliers who can provide you with the products you want at a competitive price and quality. Finding good suppliers can be one of the most difficult aspects of importing, as there are many factors to consider, such as:

Product specifications

You should make sure that the products you order meet your expectations and requirements in terms of size, color, design, functionality, safety, and quality. You should also check if the products comply with the standards and regulations of your destination country.

Supplier reputation

You should do some background research on the suppliers you are considering, such as their history, experience, credentials, reviews, and references. You should also verify their contact information, location, and legal status. You can use online tools such as Trade Assurance, Verified Supplier, and Supplier Audit to check the credibility of suppliers on online marketplaces.

Payment terms

You should negotiate the payment terms with your suppliers before placing an order. You should consider the payment method, currency, amount, and timing of the payment. You should also be aware of the risks and costs involved in different payment options, such as wire transfer, letter of credit, escrow service, or credit card.

Shipping terms

You should agree on the shipping terms with your suppliers before placing an order. You should consider the shipping method, carrier, cost, time, and responsibility for the delivery of the goods. You should also be familiar with the Incoterms (International Commercial Terms), which define the roles and obligations of buyers and sellers in international trade.

3. Manage the import process

The final step in importing is to manage the import process from start to finish. This involves handling the logistics, documentation, customs clearance, and delivery of the goods. Some of the tasks you need to do are:

Arrange transportation

You need to arrange the transportation of the goods from the supplier’s location to your destination. You can choose between different modes of transportation, such as air freight, sea freight, rail freight, or road freight. Each mode has its advantages and disadvantages in terms of cost, speed, reliability, and environmental impact.

Prepare documentation

You need to prepare the necessary documentation for importing the goods. This may include invoices, packing lists, bills of lading, certificates of origin, certificates of conformity, insurance policies, and permits. The documentation requirements may vary depending on the product type, origin country, destination country, and value of the goods.

Clear customs

You need to clear customs in both the origin country and the destination country. This means paying the applicable duties, taxes, and fees for importing the goods. The amount of duties and taxes depends on the product classification (HS code), origin country (preferential trade agreements), destination country (tariff rates), and value of the goods.

Receive delivery

You need to receive delivery of the goods at your location. You should inspect the goods for any damage or discrepancy upon arrival. You should also keep records of all transactions and communications related to your import business.

Importing products can be a great way to grow your business and reach new customers around the world. However, it also requires careful planning, research, and management to ensure a smooth and profitable
import process. We hope this blog post has given you some useful information and statistics on how to import products successfully.

References:

http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Economic_territory

https://www.edumaritime.net/icc-academy/export-import-certificate-eic-online

https://en.wikipedia.org/wiki/Special:BookSources/0-19-568909-7

https://www.wto.org/english/res_e/statis_e/wts2021_e/wts2021_e.pdf
https://www.trade.gov/conducting-market-research
https://www.investopedia.com/articles/investing/100813/interesting-facts-about-imports-and-exports.asp
https://corporatefinanceinstitute.com/resources/economics/imports-and-exports/

https://www.shopify.com/blog/how-to-import-products-from-china

https://www.ecommerceceo.com/importing-from-china/

https://www.salehoo.com/blog/how-to-import-products-from-overseas-for-your-online-store