[sponsored sponsor=”Global Sources”]
For Amazon marketplace sellers, private labeling remains one of the most popular business models. This is where sellers source a generic item, create a logo and custom packaging, and then offer it on Amazon under their own brand name and listing.
But the private label model is more difficult than people think, and one of the most difficult aspects is sourcing products from China – especially if sellers have no previous experience of importing. They often make simple but costly errors, like miscommunicating with their supplier or having the wrong export documentation.
This is where the Global Sources Summit comes in. It aims to help established Amazon sellers source more efficiently, by learning from the world’s top sourcing and private label experts. It also gives sellers the opportunity to source products from two co-located trade shows, and to visit Chinese suppliers in person.
The Evolution of Sourcing
Global Sources started life in 1971, producing magazines that advised businesses on how to source products from Asia. Fast forward to 2017 and Global Sources is still helping importers, through their online supplier directory and trade shows, which help importers meet suppliers in China.
In the past, most of the one million importers using Global Sources were traditional wholesalers and distributors. But over the last couple of years there has been a shift, as an increasing number of online sellers have been attending trade shows and sourcing using their directory.
Online sellers source very differently to traditional wholesalers. Many sellers are brand new to importing, and choose to source online, without visiting China. This means they don’t have agents or a buying office on the ground, and have particular sourcing challenges because of that.
The Global Sources Summit
In April 2016, Global Sources decided to start a conference to help educate online sellers about sourcing from China. They saw that the majority of conferences held in the US didn’t cover the topic in great detail, and wanted to fill the void.
The conference has been gaining momentum quickly, with the fourth Global Sources Summit to be held from 17-19th October this year, in Hong Kong. The summit is held in April and October every year, to match the trade show season in China, and has already been featured in Forbes, as one of the top business conferences in China.
The event is aimed at established Amazon sellers, who are sourcing products from China. There are no talks for beginners on the agenda, so intermediate and advanced sellers are likely to get the most out of attending.
The summit also has a real global feel. While sellers from the US and Europe make up around 65% of the attendees, there were sellers from 21 different countries in attendance at April’s event.
The summit begins with an optional session on Monday evening, before the official opening the next day, where Danny McMillan will be hosting a fireside chat with ecommerce and sourcing experts. The event is a chance for attendees to get to know each other before the conference starts in full.
The theme for the first full day of the conference is “source smarter”, with talks on sourcing trends in 2018, how to avoid common sourcing errors, and how to communicate with suppliers.
The second day starts with an optional mastermind for advanced sellers, with sales of at least $20,000 per month or $250,000 per year. Attendees will get the chance to sit down with four experts, for two hours, and ask them questions not only about sourcing, but on any wider issues or queries they have about selling online.
The experts hosting the mastermind are Will Tjernlund, Danny McMillan, Sean Smith, and Manuel Becvar. There is an additional charge to attend this session.
The conference continues in the afternoon, with the theme of “sell better”. There will be a big-picture outlook on ecommerce in 2018, followed by talks on PPC optimization, AMS advertising strategies and Amazon account suspensions.
Then, in the evening, there is a networking event, which brings together summit attendees, people visiting the trade shows, Amazon sellers from Hong Kong and service providers.
The theme for the final day of the conference is “profit more” and features one of the highlights of the whole conference – a panel discussion with eight-figure superstar sellers Will Tjernlund, Bernie Thompson and Max Kronberg.
October’s Global Sources Summit will see a number of well-known names, both here on Web Retailer and in the wider ecommerce world, taking to the stage. These include:
- Will Tjernlund, founder of Goat Consulting
- Manuel Bevcar, CEO and founder of ImportDojo
- Danny Macmillan, host of Seller Sessions
- Gary Huang, founder of 80/20 Sourcing
- CJ Rosenbaum, founder and attorney at Amazon Sellers Lawyer
- Ashish Monga, founder and CEO of IMEX sourcing
Also speaking at the event are Bernie Thompson, Max Kronberg, KJ Robinson, Taylor Benterud, Shalla Fu, Amy Hsiao, Sean Smith, Eytan Wiener and Erick Rodriguez.
Will I Have Time to Visit the Trade Shows?
The Global Sources Summit is co-located with two trade shows – Global Sources Mobile Electronics and Global Sources Gifts & Home – which run from the 18-21st October.
These shows are huge, with more than 47,000 buyers, from 146 countries and regions, visiting over 3,800 booths. In fact, Global Sources Mobile Electronics is the largest sourcing show in the world for mobile electronics – even bigger than the Canton Fair!
The exhibitions are held at the same venue as the Global Sources Summit. The exhibition takes place on the ground floor, with the conference on the second floor, making it easy for attendees to visit both events.
The timetable for the Global Sources Summit gives attendees plenty of time to visit the trade shows too. Those not attending the mastermind can visit the trade show on the second day of the conference, and everyone will have time on the final day of the conference, as talks finish at 3.30pm.
Some attendees also stay for a day after the conference has finished, to visit the trade shows, then often head to the Canton Fair or China.
Other shows hosted by Global Sources around the same time are Consumer Electronics (11-14th October) and Fashion (27-30th October).
The Important Details
The Global Sources Summit takes place from the 17-19th October at AsiaWorld-Expo.
The venue is just one stop on the train from Hong Kong airport, so many people who attend the summit like to stay in a hotel near the airport. Global Sources have negotiated lower prices for attendees with a number of hotels near the venue, which you can book here.
Tickets for the summit are $749, which give you access to all three days of the conference and the optional fireside chat session on the 16th. If you wish to attend the mastermind on day two, there is an additional cost of $150.
There is also a group discount ticket, where if you buy two or more tickets at the time, you save $100 per person.
Web Retailer readers can save an extra $50 by using the discount code WR50.
The Global Sources Summit provides a unique opportunity for growing Amazon sellers to learn first-hand from some of the leading authorities in the world, and put their new knowledge to work at the best trade shows – all in the same trip.
This post was sponsored by Global Sources.