Buy Wholesale In Latin America

There are 4 different ways to buy wholesale in Latin America and the Caribbean:

*Buy directly from suppliers located in Asia, Europe, USA etc.

*Order from local distributors or agents representing international companies

*Purchase from manufacturers in Latin America and the Caribbean

*Search for wholesalers online thanks to B2B Trade portals and marketplaces.

1- Purchase directly from foreign manufacturers located outside the region

The product offer from foreign companies is very diverse allowing buyers to choose from a very large variety of products from famous world brands to cheap low quality products. This option forces a larger initial investment as large quantities are required for each order. This option is not feasible for small and medium companies looking to purchase small quantities. Knowledge about international trade is also required in case problems arise. Topics such as commercial terms, logistics and customs procedure should be thoroughly understood.

2- Order from local distributors or agents representing international companies

The majority of companies located in Latin America and the Caribbean will fill their sourcing needs by buying from local distributors, wholesalers and agents representing foreign brands and manufacturers. This option allows them to buy smaller quantities and remove all responsibilities related to shipping and customs procedures. These wholesalers are usually found in tax free zones such as the "Zona Libre de Colon" in Panama or the "Zona Franca de Iquique (Zofri)" in Chile. Almost every country in Latin America and the Caribbean has its own tax free zone to boost trade in their economies. These geographic regions have become strategic trading platforms in the region.

3- Purchase from manufacturers in Latin America and the Caribbean

Another option to decrease logistic costs is to buy from manufacturers and suppliers located in the region. There are a lot of benefits to this option such as better communication as the same language is used, shorter distance to travel to meet potential suppliers, cost effective prices as no middleman is adding his share and easier control of product quality. This also reduces cost related to custom duties.

4- Find wholesalers online thanks to online B2B marketplaces in Latin America and the Caribbean

Thanks to the internet, there has been an increase in online trade portals and marketplaces. The leaders are big names such as Alibaba, Tradekey, EC21 etc. These marketplaces are very strong on an international level but lack presence of Latin American and Caribbean companies. Why? This region is developing and is learning about the tools available to them and is starting to understand the importance of having an online presence for their company. The increase in entrepreneurship in the internet business within the region is also booming. Latin America and the Caribbean just created its first trade portal and marketplace www.mercatrade.com that is holding up to the international standards of design and programming and has adapted itself to the needs of the region.

by: Joshua Adekane

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