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It already helps if you have a structured approach for your procurement and to keep your options open. Working with a local consultant or agency may help to identify more potential suppliers and to get the products that you just bought accross the border to their destination.
Our local consultant help you find relevant suppliers, approach them on your behalf and ensure you get the right proposals and deliveries.
For buyers outside Europe, procuring and importing goods from this diverse continent can offer both opportunities and challenges. Europe is known for its varied wage levels and product categories, alongside a uniform system of currency and customs regulations that facilitate smooth trade.
Europe comprises a multitude of countries, each with its own economic landscape. Northern and Western European countries such as Germany, France, and the Netherlands generally have higher wage levels. These countries are renowned for producing high-quality machinery, automobiles, and luxury goods. On the other hand, Eastern European countries like Poland, Romania, and Bulgaria offer lower wage levels, making them attractive for sourcing more cost-effective products such as textiles, furniture, and certain electronics.
Understanding these regional differences is crucial for buyers. High-wage countries often guarantee superior quality and cutting-edge technology, ideal for sectors requiring precision and durability. Conversely, lower-wage countries can be advantageous for sourcing bulk goods and products where cost efficiency is paramount.
Despite the diversity, Europe presents a unified front in terms of currency and customs regulations. The adoption of the euro in 20 of the 27 EU countries simplifies financial transactions, reducing the complexities of dealing with multiple currencies. This uniformity facilitates easier price comparisons and financial planning for international buyers.
Additionally, the European Union’s harmonized customs regulations streamline the import process. The EU Customs Union ensures that goods move freely within member states without additional tariffs, making it simpler to source products from multiple European countries. Standardized regulations across the EU, such as the General Data Protection Regulation (GDPR) and the CE marking for product safety, ensure that buyers receive goods that comply with high standards.
The best preparation for doing business in any country is visiting it. This way you can experience the culture, check the shops and build your network.
Where it comes to hotels, research shows that if you check these platforms, in 80% of the cases you have the lowest room rates.
If you take your sourcing step by step, then it can’t go wrong.
Step 1
Try to identify in total 6 to 10 possible suppliers and check their websites. Approach them with a general request to see whether they have the products or services you need.
Step 2
Submit your requirements to a group of three to five selected suppliers and ensure you get the right comparable quotations to make a choice. Negotiate with one or two of them to get the best result.
Step 3
Now start collaborating, making sure you have an efficient ordering process and limited risks where it comes to quality control and shipping the products.
First of all you may have to pay import duties or settle VAT. There are certain thresholds for both of these charges, e.g. while importing in the EU you don’t have to pay import duties on any shipment worth less than € 150.
There may also be non-financial bariers, like certifications or approvals to be obtained. Especially for food, cosmetics or medicine this may be the case. Check this in advance, even before you invest in your marketing.
In developing or more developed countries also labour costs are getting higher, so there is no real bargain any more. On the other hand, the more developed a country is, the better the certainty for deliveries and the more focus there is on quality.
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