China’s overseas personal shoppers are fascinating to me on a few levels.
For one thing, you have a very entrepreneurial spirit.
Folks took advantage of a lack of supply or a distrust and made money off of it. They used their networks, their families and their free time.
My wife and I have many friends and family who take part or now…took part in this stream of income.
According to recent articles in the Financial Times, this once booming form of trade is seeing its twilight.
If there’s a paywall, there’s other articles about this.
As is usually the case, governments, regardless of the nation, see things going a certain way and want to step in and screw it up. This is takes the form of them wanting to put their hands in the hardworking citizens’ pockets and get their cut.
Therefore, the “daigou” is now coming towards more regulation. The ecommerce sites that deal in these undeclared luxuriies will have to pay full import taxes.
China started getting tighter a while back on checking express package and people coming into airports. Now they’re hitting the online sites and this form of business will start shrinking.
Looking for streams of income…
What fascinates me is how this grew because the Chinese living overseas and the ones traveling abroad weren’t content just to live.
They weren’t content just to travel.
But they thought, “why not add a stream of income into this?”
They took the need and made a money-making proposition out of it.
Now that this looks like it’s starting to get regulated, it’s giving room for larger players and brands to strategize on how to move into China now.
Here’s another article
Tiffany’s sales are drying up because of this new regulation. Now they’ve got to add more gas to their China fire operations and get it moving more inside of the border.
I admire how these overseas Chinese expats or tourists were hungry to look for income streams.
My wife is doing this. The 10 people who read this blog know that my bride, going on 14 years, is Chinese.
Like many Chinese women she’s frequently on WeChat and they use WeChat to make money.
Have you ever noticed that many overseas Chinese ladies are entrepreneurial?
There not “working a job” in the traditional sense.
They have streams of income.
Streams of Income Examples
The WeChat platform is where they run the communication.
Networking marketing groups: these may or may not involve a physical product.
Some of the example I see are paying out daily.
When you mention “network marketing” people balk and say, “that’s just a pyramid scheme”.
These opportunities are paying out.
Like anything it requires due diligence and some testing.
Cryptocurrency trading: whether coin mining or trading in a coin, this is a world of unexplored opportunity.
Is it risky? Yes
Is the stock market risky? 800 Point Dow Plunge Today
What income stream is not risky?
Is it risky if you work a 9-to-5 for 40 years? You pay your bills but you don’t control your time.
I took a roundabout way to say that I love the desire to find streams of income.
I’m on that kick and want to stay on it.
This is why I started my private label and continue to build it. Sells can come while I’m grocery shopping, for example.
Especially, I like streams of income where you don’t have to wait for someone to pull the trigger, but it’s based on whatever effort you put in to it.
Then they can become passive…
In other words, while you sleep, you make money.
That’s not a bad goal marker to start moving towards as we approach 2019.