To buy wholesale in Latin America and the Caribbean has become more complex with the increase supply and demand of consumer goods. Since the economic crisis has hit the world, foreign companies are looking into new markets such as Latin America and the Caribbean.
To summarize, there are 4 different options to buy wholesale in Latin America and the Caribbean:
*Buy directly from suppliers located in Asia, Europe, USA etc.
*Order from local distributors or agents representing international companies
*Purchase from manufacturers in Latin America and the Caribbean
*Search for wholesalers online thanks to B2B Trade portals and marketplaces.
1- Purchase directly from foreign manufacturers located outside the region
The product supply from international companies is extremely diverse. You can find items from world famous brands to inexpensive low quality products. In this case, buyers are forced to buy large quantities and have good knowledge of international trade to have a smooth shipment of the order to the destination. This option is especially difficult for small and medium companies as it requires a large initial investment.
2- Purchase from local distributors or agent representing different foreign companies
One of the most common ways to buy wholesale in Latin America and the Caribbean is to order from local distributors that represent foreign manufacturers and brands. Since distributors are responsible for the full supply process, this removes the burden of international procedures (shipping, customs) from the buyer and requires a smaller initial investment. In the Latin American and Caribbean market, it is common to find these wholesale distributors in tax free zones such as the 'Zona Libre de Colon' in Panama or the 'Zona Franca de Iquique' (ZOFRI) in Chile. Please note that almost every country in Latin America and the Caribbean has its own Tax Free Zone. This is very convenient for buyers to purchase wholesale products conveniently located in one location from several distributors then combine all their orders in containers. This saves on shipping fees and helps to optimize the buying process.
3- Purchase from manufacturers in Latin America and the Caribbean
Another option to decrease logistic costs is to buy from manufacturers and suppliers located in the region. There are a lot of benefits to this option such as better communication as the same language is used, shorter distance to travel to meet potential suppliers, cost effective prices as no middleman is adding his share and easier control of product quality. This also reduces cost related to custom duties.
4- Browse wholesalers on B2B marketplaces and business portals
The region is seeing a drastic increase in internet use in the past years. Business people are starting to use business portals and marketplaces to find potential manufacturers and suppliers. Asian websites are the leader with names such as Alibaba, Tradekey, EC21 etc. These marketplaces have an important status on an international level yet lack visibility in Latin America and the Caribbean. Thankfully, there is a new marketplace dedicated to Latin America and the Caribbean called www.mercatrade.com. Its design is simple, easy navigability, security and adapts to the needs of the region.
To summarize, there are 4 different options to buy wholesale in Latin America and the Caribbean:
*Buy directly from suppliers located in Asia, Europe, USA etc.
*Order from local distributors or agents representing international companies
*Purchase from manufacturers in Latin America and the Caribbean
*Search for wholesalers online thanks to B2B Trade portals and marketplaces.
1- Purchase directly from foreign manufacturers located outside the region
The product supply from international companies is extremely diverse. You can find items from world famous brands to inexpensive low quality products. In this case, buyers are forced to buy large quantities and have good knowledge of international trade to have a smooth shipment of the order to the destination. This option is especially difficult for small and medium companies as it requires a large initial investment.
2- Purchase from local distributors or agent representing different foreign companies
One of the most common ways to buy wholesale in Latin America and the Caribbean is to order from local distributors that represent foreign manufacturers and brands. Since distributors are responsible for the full supply process, this removes the burden of international procedures (shipping, customs) from the buyer and requires a smaller initial investment. In the Latin American and Caribbean market, it is common to find these wholesale distributors in tax free zones such as the 'Zona Libre de Colon' in Panama or the 'Zona Franca de Iquique' (ZOFRI) in Chile. Please note that almost every country in Latin America and the Caribbean has its own Tax Free Zone. This is very convenient for buyers to purchase wholesale products conveniently located in one location from several distributors then combine all their orders in containers. This saves on shipping fees and helps to optimize the buying process.
3- Purchase from manufacturers in Latin America and the Caribbean
Another option to decrease logistic costs is to buy from manufacturers and suppliers located in the region. There are a lot of benefits to this option such as better communication as the same language is used, shorter distance to travel to meet potential suppliers, cost effective prices as no middleman is adding his share and easier control of product quality. This also reduces cost related to custom duties.
4- Browse wholesalers on B2B marketplaces and business portals
The region is seeing a drastic increase in internet use in the past years. Business people are starting to use business portals and marketplaces to find potential manufacturers and suppliers. Asian websites are the leader with names such as Alibaba, Tradekey, EC21 etc. These marketplaces have an important status on an international level yet lack visibility in Latin America and the Caribbean. Thankfully, there is a new marketplace dedicated to Latin America and the Caribbean called www.mercatrade.com. Its design is simple, easy navigability, security and adapts to the needs of the region.
About the Author:
Joshua Adekane specializes in assisting companies on how to successfully grow their business in Latin America. To get instant access to tools and resources, click here B2B directory.
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