Without listening to the market you can get yourself in a sticky situation.
Today’s post is SafeSourcing Archives
When buying and selling goods and services, one of the first steps is to look at the atmosphere of the market. Without this crucial step, you may find yourself in a dangerous situation.
One issue that typically applies to individuals when they are searching for the perfect home or the right car is that they can be sucked in by the market and not even realize that they have reached their demise. For instance, if there is no market in a category, then the products will never go anywhere because no one wants them.
Potential simple things that can and will affect the market:
-Changes in trend
-The items are too specialized
Each of the above are pretty simple, but the cause and effect associated with each have a huge impact on everything you buy, ship and use. A change in trends, might be something as simple as the size of container ships increasing. More products on one ship that uses less fuel is great, but can the ports handle it? Can the existing logistics mapping handle it. Can weather (wind) impact it.
Do you have time to think this all through? I doubt it.
There are many factors that can positively or negatively affect how you buy and sell goods. Luckily for you, SafeSourcing is here to help because we study these things! Please contact a SafeSourcing Customer Services Account Manager.
We look forward to your comments.