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-madeproducts 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.