According to the U.S. Department of Commerce, importing is big business today—around $1.2 trillion annually. Wholesale importing continues to grow as companies expand in size and pursue new markets for their products.
Here are five little-known facts about wholesale importing you’ll want to share with others.
1. Conglomerates do not rule the market.
Big corporations make up only 4% of importers/exporters. That means 96% are small and medium-sized companies who are staying competitive using imports to satisfy customers.
2. Importing is more about availability—at the right price.
Manufacturing in the United States may not provide the best solution, especially compared to the competitive pricing international manufacturers can provide. Companies using only domestically manufactured products may have higher input costs.
3. Technology makes a big difference in wholesale importing.
Importing is a data-driven industry. Technology makes it easy to manage inventory and streamline your supply chain. A business information system can efficiently manage customer and order information from around the world.
4. China is a leading global manufacturer.
Thanks to highly efficient production and competitive costs, China is one of the top producers of a staggering number of products. U.S. companies with access to imported goods at reduced prices gain an advantage over their competitors.
5. You will not compromise quality when importing.
U.S. and European countries set strict standards which other countries must comply with for imports. You can rest assured China produces products of the highest quality.
Conclusion
The world is a very connected place, which can benefit your wholesale plumbing supply business with a competitive advantage in lower prices and better quality products. Also, technology is bridging the gap between countries so real-time communications can take place between wholesalers and factories around the world. Finally, wholesale importing is not the playing field of large enterprises. In fact, small and medium-sized companies often have the biggest advantage in this market.
The Lino International difference
Lino International, Inc. is a trusted manufacturer of cast iron pipes, fittings, couplings, tubing, tapes, and safety equipment. Lino is headquartered in New York, with three manufacturing facilities in China. We focus on providing complete service and support through proven procurement, manufacturing, and logistics processes to ensure continued long-term relationships and your success.
Lino utilizes the latest technology available, and our experienced employees meet the highest quality standards with consistency and reliability.
Contact us online or at 1.516.482.7100 today to discuss how we can help you solve your plumbing supply needs.