The global import market is worth somewhere in the region of $30 trillion. It has become a major method of business but it is important to be aware of the barriers.
There are all sorts of different laws and regulations that govern the import industry. There are even different rules for importing goods into different countries. That means there are lots of opportunities for error, which could cost you dearly if you make a mistake.
Challenges of Importing goods
One of the biggest challenges that an importer will face is knowing if their courier service is reliable or not. Some of the most popular courier services operate in a way that tricks buyers into thinking they can trust them when in reality they can’t. The first thing to know about courier services is that they are all run by the same two giants. DHL and UPS control 70% of the international shipping market, and they have a monopoly on all airmail shipping.
Consider the following tips while setting up your E-commerce store
- Know the local market: Before starting an online business in a foreign country, make sure you know what goods sell there and where they are sold.
- Consider the competition: If you’re planning to sell similar or identical goods, make sure you know who your rivals are and how they operate.
- Choose the right platform: Choose a platform that can help you target your customers better and serve them better.
- Choose the most appropriate payment gateway: A payment gateway enables users to transfer money to their accounts electronically.
Your business is unique, your challenges are unique
You have a business, you have employees, you have challenges. Your challenges are unique. Your employees are unique. Your business is unique. So the solution to your challenges is not just a checklist or a template. It’s not finding one thing that works for everyone and following it to make sure you don’t fail.
Some people say the only way to get ideas for your business is to look at what other businesses are doing. They say, for example, that if you want to be like Apple, you should copy all of their marketing. Or that if you want to be like Virgin Airlines, you should copy all of their customer service practices.
But this is wrong. Every business is different. The unique circumstances of your business mean you need a unique solution to every problem. The way you get good ideas for your business isn’t by copying others, but by looking closely at yourself and your situation which can result in a sustainable profitable growing business.
To Sum Up
In today’s competitive business world, businesses are looking for ways to earn a profit in the fastest possible time. While there is no simple answer to this question, it can be achieved through e-commerce or importing goods from emerging countries that have a good reputation in exporting manufacturing goods like China, Thailand, Pakistan, South Korea, etc. But importing goods to sell online is a very hard & time-consuming task which can be solved with the help of our consultants who will advise you on how to import your products easily and set up an e-commerce store in UAE.