July: the time of year when brands start ramping up for fourth quarter holiday promotions. With profit margins in mind, the cheapest prices seem like the best option. With technology making the world a smaller place, sourcing for the best deals remotely with online platforms like Alibaba is an easy option. But the risks associated with anonymity from online sourcing sites can be high.

This year’s Canton Fair, as reported by Week in China, was “Fair enough.” Once thought to be the bi-annual event that stimulated trade between suppliers and buyers, the purpose of the fair seems to be rapidly changing for a variety of reasons. “Fewer and fewer foreign participants are willing to sign deals on the spot,” says Wang Changyin, general manager of trading at Galanz Group.

Bagco Asia managing director, Caroline Daly, believes that to be a good move saying, “good relationships are not built up instantly, but over time and with standards in mind.” On her last sourcing trip to visit one of our long-time suppliers in China, Caroline saw a farmland town transformed into a bustling city in a matter of three years. We can expect more growth, and therefore greater competition, from China manufacturers in the coming years, but suppliers and brands should continue to look for credibility and quality in their suppliers – and beware the deals that are too good to be true.

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About Bagco Asia
Since 2005, Bagco Asia has built a first-class reputation for its delivery of bespoke premium bags and conference items for a range of end users around the world.
Headquartered in Hong Kong, Bagco Asia is perfectly positioned to bring customers the best products with the most reliable service in the region. We source top-quality, trendsetting items that have been manufactured with standards in mind.

Published on: July 25th, 2014