– Stocking up just before CNY can cushion you during the shutdown period. If you’d like me to review your sourcing request and see if I can connect you with a sourcing agent who may be a good fit please fill out the form below: Through my network, I can connect you with a sourcing agent who knows the ins and outs of handling the CNY disruption as well as finding a 5-star product for your business. In my opinion, referrals are a great way to find trusted sourcing agents. If this feels overwhelming, or you want to focus on growing your business you can delegate this task to a specialized sourcing agent.īut you need to make sure you find someone who is qualified and trustworthy.Īlibaba, Global sources, and even sites like Upwork can yield sourcing agents but make sure you vet them as you would a supplier. This way factories have time to produce and finish by the end of December and get them on the boat before the CNY chaos begins.Īfter that when your products are finished, you must make sure they are shipped 1-2 weeks prior to CNY to avoid being stuck in the middle of shipping mayhem.Ĭhinese New Year 2024 is from Feb 9-15, 2024. If your lead time is 30 days, then you should get your orders in by late November. **Your Game Plan** You’ve got two main choices right now: 1) Plan Your Orders Earlyĭepending on your lead times, you need to get those orders in by late October if your lead time is 60 days. Learn from my mistakes! Here’s what to do: We ended up being out of stock for nearly TWO MONTHS and it really hurt our sales and ranking on Amazon. Once they got back to work they didn’t have the raw materials nor enough workers to assemble the watch straps. We contacted the factory but they were closed for several weeks until mid-February. This was in late January so it was in the middle of Chinese New Year. We were ecstatic until we realized that we didn’t have enough products in our inventory. Immediately our sales spiked from 6-7 per day to 30-50 per day. our product was an Apple Watch Band which generated 6 figures in sales in the first year.ĭuring the Chinese New Year of 2016, it was featured on 9 to 5 Mac, a major news site for Apple products. I made this mistake in not properly planning for the CNY disruption when my former business partner and I launched my first Amazon FBA private label product in 2015. This means a disruption of about ONE MONTH. Post-CNY, factories often face a hiring spree, training newcomers, further adding to delays. Not just factories – the entire supply chain feels it. When they’re gone, factories can close for weeks. In fact many leave their factory jobs well before the official holiday and return much later, or not at all. It’s so significant that nearly 340 million workers travel – the world’s largest migration.ģ40 million people travel during CNY. Think of CNY as Thanksgiving, Christmas, and New Year’s all at once. Here’s why it matters and what you can do about it. The Chinese New Year (CNY) can make things super tricky. So, you’re probably caught up thinking about Q4 sales right now, right? That’s great, but one of the biggest slip-ups businesses make is not keeping an eye on their sourcing and supply chain heading into the new year.Īnd when you’re sourcing from China, then planning for Q1 (Jan-Mar) and Q2 (Apr-June) of the next year becomes crucial.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |