WELLCARE Blog for Business

Are you importing “okay” quality personal-care products? At first glance, importing cheaper products may seem safer than importing items that are more expensive. However, you can actually cause far more risks than profit for your business when you import lower quality personal-care products.

Here’s why importing lower quality products can cause more risks than profits for buyers:

1. Your product will never be the first choice for consumers

Customers only go for price or feature & quality. Anything in-between is hard to sell. So unless you want to be competing on price with the cheapest product, which might be a problem of its own, you won’t be having an attractive product to the eyes of consumers.

2. Inventory piles up very quickly

A lot of health & personal-care products are seasonal items. So when the season is over, their prices drop and retailers have to put these items on sale to get rid of their inventory. Either that or they have to ship them back to their storage and pay for extra shipping and handling.

Keeping a low inventory count is crucial for importers, as they can easily leverage in the following year by approaching the same retailers. This wouldn’t be the case if the retailers still have too much inventory in stock. You will be stuck without any good way to sell your existing products when the retailers don’t want them either.

3. Low profit margin due to excessive competition

When a product is not unique, everyone sells it. Not only will the product be highly replaceable in the market, competition will also be extremely high. This makes profit margin so much lower than it should be. Everyone will ONLY be competing on price.

4. Lots of hidden costs

Lower quality products might appear to have cheaper cost on paper, but once you add up all the hidden costs, they can easily cost much more than you expect.

Hidden costs may include:

• Extra inventory cost
• Extra management time due to consumer questions and problems with the product
• Higher chance of returned purchase and refund

How to find success and profit?

Importing existing products on the market won’t give you a chance to make a lot of money, because you’ll just be following what everyone else has already been doing. In order to find success and maximize profit, you should find products that are both exceptional and unique.

How to find exceptional and unique products?

You need to find trustworthy manufacturers and build trust with them. So they’ll be willing to give their new products’ dealership to you with the best possible distribution conditions, as well as their full support.

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