Word ‘Electronics’, being ranked as the highest searched word on Google, proves how the world is crazy about buying Electronic Gadgets these days. This increasing demand of Electronic Gadgets is giving manufactures a confidence to bring more new products in market with increased features and high reliability.
However buying them blindly from any store is not a good idea as you can buy them at very cheap prices if you slightly research on the suppliers. Following are the factors which you should consider before buying Electronic gadgets as they would most likely effect the cost.
• Quality & Reliability:
• Guaranty & Warranty
• After Sales Services
• User-friendly Online Ordering System
• Secure & Flexible Payment Systems
• Free Shipping
Around 90% of them will be telling you to buy the product from China as that is the best way to buy cheap. The main reasons are;
Raw Material Cost: Chinese government support the small and medium scale industries by providing them the raw material at relatively cheap rates. Also the major inputs like water, electricity, gas or any other fuels are heavily subsidized which allow the final product to be produced at very low cost.
Cheap Labor: Chinese labor is extremely cheap to the extent that for consumer products there are no batch packing units. This is done manually by workers which save the investment cost of complex machinery to automate the process.
Easy Availability of Skilled Labor: A lot of skill workers are easily available in China and different manufacturing companies do not have to hire a person from abroad and bear their overhead costs. This also has an impact in overall production cost.
Taxes: To support the export of Chinese products throughout the world, Chinese government offers different packages for exporters and manufacturers which save them from hefty amounts which are being paid as taxes. That is also one of the reasons, why buying from China is cheap.
To conclude, it’s pretty obvious that if the cost of raw materials which is required to produce the final product, cost of power which is required to run the factory, cost of labor which is required to maintain the factory and cost of skilled labor which is required to bring innovation to a product is cheap then the final product, no matter what it is, will be available at a cheap cost.