THIS week, more than 820 Chinese manufacturers descended on the Gallagher Convention Centre this week for Global Sources’ China Sourcing Fair.

Last year, the fair had over        
5 000 visitors 520 exhibitors selling everything from baby wipes to industrial generators. 

Global Sources general manager for developing markets, Bill Janeri, analysed the profiles of SA buyers at this year’s event and it is evident that the majority are pros.

Only 17% of buyers are newcomers and 30% have been importing from more than 11 years. 

In total, 44% of buyers import under $500 000 worth of goods, 17% import $500 000 to $1 million, 12% import up to $5 million and 27% spend more than $5 million. About 64% of this money is currently spent in China with another 35% planning to source from China in the next year.

Buyers source a wide range of goods with consumer electronics, gifts, home products, hardware and building material topping the list. They say that China is the de facto source because of price and quality – 77% and 69% of buyers site these as critical factors. 

A whopping 90% of buyers plan to increase their imports  from China in the next year with 12% saying the increase will be between 81% and 100%. 

Source:www.citizen.co.za