Product Sourcing Over the Internet

Around the globe, manufacturers and exporters of top quality products and merchandise are looking for someone to help them open up new markets for their products or improve their methods of distribution in the countries where they are already established.

To find these trading firms you must start "sourcing" for them and some of the best places to look are at "Electronic Trading Networks" or B2B Marketplaces. Electronic Trading Networks are Internet web sites or "Web Portals" where International buyers and sellers come together to exchange their products and locate potential joint venture partners. Unlike B2C (Business to Commerce or Business to Consumer) web sites, B2B sites are sort of a "middleman" that brings buyers and sellers together.

THE BUYING AND SELLING OF E-COMMERCE

There are hundreds if not thousands of these B2B sites on the Internet, some of which only cater to world trade and international traders. These types of B2B sites are easy to spot. At first glance they may resemble search engines similar to Yahoo, Northern Light, Lycos and others. But upon closer inspection of their content you will find that these Web Portals are geared towards product selection and promotion.

They all perform the same function of bringing buyers and sellers together but some are only designed to promote the specific products that are manufactured or exported from their own country or region (such as ChinaPages.com and TaiwanTrade.com). Mostly all of the B2B marketplaces have a worldwide focus to allow manufacturers to trade with Importers no matter where in the world they may live.

Business - to - Business (B2B) commerce is exploding on the Internet and certain studies have found it to have 20 times the volume of B2C commerce. It is estimated that by the year 2003 there will be 10,000 digital marketplaces or vertical exchanges.

According to a research by the Gartner Group B2B electronic commerce reached USD $145 billion in 1999 and by the year 2004 it is projected to reach USD $7.29 trillion. Online marketplaces are making it easier for companies to transfer information, make financial transactions and build communities that are more industry focused and specific.

International traders are benefiting greatly from the use of these B2B marketplaces that closely mirror the real world markets that they are accustomed to using. Cometotrade.com has 49,966 members at its web site with a estimated 100,226 trade listings in 750 categories and subcategories. TaiwanTrade.com, which is another large B2B portal, has thousands of members registered at its web site.

B2B MARKETPLACES ORGANIZED FOR WORLD TRADE

Importers that are interested in contacting potential manufacturers and suppliers that have quality products to export should start their search at the various B2B Portal Sites specifically geared toward international trade. Whereas any good Internet search engine will reveal the URL or address of foreign firms you must know where to look and the exact key words to use. With so many companies online one of the problems you will face using a B2C search engine is finding the right company with which to do business.

Because B2B marketplace oriented web sites post nothing but offers from manufacturers, exporters and importers this problem has virtually been eliminated for you. If you are an Importer of sports products you can post an offer to buy and have hundreds of manufacturers and suppliers of sports related items send you their offers by email. If you are a manufacturer looking for a distributor or agent in a particular country you can post an offer at any of these portal sites and receive inquiries from qualified businesses.

BUSINESS TIPS TO GET YOU STARTED

To get started, you must first become a member and register at the web site you are attempting to use. This is a simple step because registration is free and unless you register you won't be able to use any of the services that are available (such as free postings of buy and sell offers, free company listings, email notification of trade leads, etc.).

After you have successfully registered you must login with a User name and a Password. B2B marketplaces for international traders offer a full compliment of services that are essential for any kind of import - export transactions to take place. You will find that nearly all of these web sites offer some type of search capabilities (to find the specific industry you are marketing to or from), free postings so buyers and sellers can place their offers or demands online, receive email notification of trade leads tailored for your market, and various other services. Some B2B web sites allow their registered members to place a web page at their site that provides complete company information about their business and the type of products that have to sell or purchase.

Using these B2B web portals can get rather involved so it is a good idea to have in mind exactly what you need before you begin your search. You need your products SIC code and industry classification before you begin to make any contacts. But if you are only requesting a catalog you may be able to forgo this information in the beginning.

WHICH ARE THE BEST B2B ELECTRONIC TRADING MARKETPLACES?

The following is a list of some of the best B2B portal sites that are specifically involved in the transaction of international trade. There are hundreds of others on the Internet but more than likely these sites listed below will offer you the best chance to find exactly what you need:

Http://www.tradechannel.com This is one of the oldest publications for exporters, importers, distributors and agents. The online version of this magazine is just as dynamic and full featured as its print counterpart. You can source for products in over 300 different categories. Published since 1946, Trade Channel has been the leading publication for international traders in over 140 countries.

Http://www.taiwantrade.com is a B2B web site dedicated to promoting business activity between foreign countries and Taiwan. This portal site explains issues to be considered before deciding on a trading partner and it provides links to the top manufacturing centers with extended information about Taiwan products, traveling and visiting in Taiwan, China and other Asian countries.

Http://www.cometotrade.com is a global B2B web portal offering unmatched functionality and features, including a worldwide RGQ process, custom matching of product leads, email notification of new listings, and valuable global trade resources. Currently, it has over 200,000 listings of qualified suppliers.

Http://www.busytrade.com is one of the leading B2B global marketplaces for members to exchange information and perform business transactions. Advertising opportunities are also available to reach an industry specific target audience. Established in 1999, BusyTrade is one of the first online trading portals to be established in China and a pioneer in B2B e-commerce.

Http://www.chinapages.com established in 1995 as the first and leading provider of online business information and Internet solutions in Mainland China, Chinapages.com spares no effort in promoting the activities of business, economy, trade and investment between China and the World.

Http://www.businesstalk.com this is a new B2B web portal that is still under construction. But it appears that the site is active and ready for trading.

Http://www.alibaba.com is an impressive B2B marketplace that has 36872 offers to buy posted on its web site and 98132 offers to sell, from 202 countries and territories. The trade leads section has amassed an impressive listing of 495,372 offers to trade from nearly every country around the world. This is a very clean site with alternate web sites in China and Korea.

Http://www.globalsources.com this is a group of publications and an online web site that is designed to promote Asian manufacturers and their products. Global Sources offers you more than 80,000 products and the most competitive suppliers in the world. From China to Thailand, Hong Kong to Korea and Taiwan to India. At this web portal you will find fashion accessories, Gifts & home products, hardware, timepieces, electronic components, computer products, security and safety products, food and beverage, ceramics and porcelain, trimmings and fabrics and hundreds of others. If you can't find the products you need from Asian Sources it doesn't exist!