Buying Overseas: The Risks and Rewards

Globalization of the jewelry industry has opened new doors to the U.S. retail jeweler. For independent jewelers, buying directly from overseas sources can offer big advantages, including price breaks and access to unique merchandise. Some experts note that foreign sourcing puts competitive pressure on U.S. suppliers, which means better deals and better service for retailers. Dealing with overseas companies also can expose a small retailer to new technologies, research data, marketing strategies, and other innovations that can help them expand their businesses. But direct overseas buying entails risks as well as rewards. According to experts, potential problems include: Difficulty reordering best-selling items quickly and efficiently; Difficulty monitoring and maintaining quality control from thousands of miles away; Inability to easily ch

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