Yiwu is a magical city that is not only the holy land of traditional small commodities but also the capital of trending products. For people who haven’t paid a visit to Yiwu, I guarantee that you will be astonished by the enormous number of small commodities out there and how competitive the prices are. By reading this article, you will have a comprehensive understanding of the Yiwu small commodity market.
Before we start, guess what is the average price of these commodities in the image above. $1 or $2 maybe? No, it is only 1 RMB which is 0.16 USD. So why are they so low-priced? The secret is that in the Yiwu small commodity market, thousands of stores out there are owned by manufacturers, so basically you purchase directly from manufacturers. Because of the direct purchase, plus the integrated supply chain, you will be able to save a whole lot of money. In addition, with a well-established industry chain, Yiwu can provide merchants over the world with great convenience. Once you have built a long-term relationship with your suppliers, you can even negotiate with them for paying after the delivery. No doubt that will be very beneficial to reduce the risk of your cash flow.
1. For instance, if you, as a rookie retailer, go to Yiwu for wholesale purposes, you may end up with a purchase of over-priced products. To avoid that, find as many suppliers as possible, and compare the offered prices, so you can have a clear picture of the reasonable prices. If it is possible, do some research before you get to Yiwu, which can help you act like an experienced retailer, the more skillful you seem to be, the less likely they will try to scam you.
2. Pay attention to the size. If you intend to purchase products with different sizes like S, M, L, XL, and XXL, sometimes, suppliers may get the amount of each size wrong easily, so don’t forget to check them in case customers complain about receiving the wrong size.
3. Avoid investing all your money in your first order. Instead, place a test order, and wait patiently to see how things go. If the sales meet your expectations, place a larger order next time. By increasing the order size step by step, you are expected to scale up your business with minimum risks.
Bachitang Street is a newly built street. For small retailers, it is a place that deserved a good visit. Hundreds of stores out there sell thousands of small commodities. You need to be experienced and competent enough to make sure you can identify the right products. However, the unwritten rule in Bachitang Street is that suppliers don’t provide return or refund services, even if some of the products received are defective. Lack of after-sales service might be costly and in some cases, you even need to pick, sort, and pack the products by yourself, not to mention that there is a chance of running out of stock.
Jiangbeixiazhu Ecommerce Town is a must-go for dropshippers. In this town, suppliers are specialized in offering dropshipping services without MOQ requirements. Compared to other places, the price of each item here is relatively higher, but it can provide a one-stop solution for merchants to save considerable time so that they can focus on marketing and selling.
Meihu Street and Wuai Village are connected and are both located in Nianxi Village, covering a very large area with four sections. They mainly focus on inventory-tailed products, such as clothing, bags, and accessories. In total, there are more than 2,000 stores, it may take several days if you want to visit all of them. Thanks to the well-established warehouse system, it is much easier for merchants to find the ideal product with an adequate inventory compared to other places. Besides that, depending on how you perform, the quotations vary significantly. To get a fair price, you need to learn from negotiating with suppliers, which can make you become more experienced.
The entire Yiwu International Trade City is divided into five areas, each connected to the other by a passage. And the five sections together have a construction area of more than 4 million square meters and over 9000 stores. There are all kinds of small commodities here, each area is specialized in selling specific products.
Area A: artificial flowers, toys, jewelry, photo frames, mugs, and crafts.
Area B: bags, umbrellas, hardware, accessories, electrical products for automobiles, and locks, kitchen hardware, small household appliances, telecommunications equipment, electronic instruments, boutique bags.
Area C: pens, ink supplies, paper products, glasses, office supplies, sporting goods, cosmetics, nail polish, and makeup tools.
Area D: socks, gloves, hats, shoes, threads, ties, laces, wool, towels, bras, underwear, belts, scarves.
Area E: home furnishings, jewelry, accessories, crafts.
However, given that suppliers in Yiwu International Trade City require a larger MOQ, it is more recommended for wholesale purposes.
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