3 Key Areas to Know If You're a Handicraft Exporter

Whether you're a handicraft exporter or a buyer of crafts, it's important to know the ins and outs of the process. Here are three key areas to know.

Imitation jewellery

Despite the sluggish economy, imitation jewellery is still gaining popularity across the world. China is the largest producer and exporter of imitation jewellery in the world. In fact, it exports more than India in the same year. This has prompted TDB to take notice of the country's jewellery penetration in India.

The best way to go about this is to get some creative ideas going. A few smart moves can turn double digit profits for an export manufacturer.

This includes using the latest technology to produce jewellery that is inexpensive to make. Likewise, sourcing materials from a country with a low cost of doing business will ensure that you get your goods at the best possible price.

However, this is not the only reason to produce and export imitation jewellery. If you can get the government to support you, you can get a great return on your investment.

Felt and Yarn

Felt and Yarn is one of the leading handicraft exporters in Nepal. This company is owned by Sunita Sherpa. It is based in Kathmandu Valley. They produce felt products that are used to make a wide variety of products. They sell their felt products in the US, Europe and Japan. They also manufacture products for the domestic market.

The main raw material for felt products is refined sheep wool. The company has been manufacturing felt and wool crafts for more than two decades. It is an ISO 9001:2015 certified company. They have a staff of almost 600 people. They produce around 20 different varieties of products. They also provide training to local felt workers.

Fusen is another felt company that manufactures arts and crafts that are environmentally friendly. The company is mainly focused on trading, production and professional development. They also specialize in felt accessories, advertising gifts and felt storage baskets. They have an outlet in Kathmandu.

Economic openness

Several studies have shown that openness of an economy has positive effects on economic growth. In particular, openness stimulates growth due to easier access to new technologies and skills. In addition, high-tech inputs can improve the competitiveness of export goods.

Openness of an economy is defined as the proportion of the country's GDP that is exported. The actual size of registered imports is also a measure of economic openness.

According to the World Bank, there are four categories of less or more inward-oriented economies. This classification is based on the evidence of rates of protection, rates of exchange rate over-valuation, direct import controls, and export incentives.

Some scholars argue that the openness of an economy is directly linked to growth. Other scholars argue that the openness of an economy depends on the political structure of a country.

Amazon platform

Choosing the right platform to sell your handmade goods is crucial. There are many options to choose from, but here we are going to compare two of the most popular - Etsy and Amazon Handmade.

Etsy is the online marketplace for handmade products. Founded in 2005, Etsy has over two million active users and has become the leading marketplace for selling handmade goods. Etsy customers are looking for vintage items, handmade items, and artisanal goods.

Etsy is also easy to set up and provides a large audience. Sellers can accept credit cards, PayPal, checks, and money orders. It also has a large number of production partners.

Amazon Handmade is a new marketplace division of Amazon. It features exclusively high quality wares. The fee structure is simple. Sellers pay a flat 15% referral fee on each sale. The platform is easy to use and requires little IT knowledge. There are a number of helpful reports available to sellers.