Diversification is a business strategy that
helps businesses reduce risk and stay afloat during turbulent times.
Sourcing from only one country
can be risky as trade disputes or other issues can impact bottom lines, especially if you are selling high-competition and low-margin products.
The recent US import tariffs on China-made
products is a prime example of how government policy can impact import businesses in the blink of an eye.
As an e-commerce
business importing private label products, you are exposed to such risks, and
sourcing diversification is one way to
mitigate these risks.