This article is first released on yiwuagt.com. Through this site, you can learn about many imports knowledge.
As we all know, Yiwu has the world largest wholesale market, a lot of buyers go to Yiwu market wholesale products. As Yiwu market agents with multi-year experience, we know that many clients want to get a complete guide for Yiwu market sourcing. So in this article we will take you to understand everything about Yiwu market, reveal some tips for making money on Yiwu trips.
This article mainly covers the following:
1. Yiwu and Yiwu wholesale market
2. Yiwu International Trade City Introduction
3. How to choose Yiwu market supplier
4. How to ensure product quality
5. Price negotiation skills
6. Solutions to language barriers
7. Is it necessary to use Yiwu Market Agent
8. Payment issues
9. Transport products
Let us start reading Yiwu Market Guide!
1. Yiwu and Yiwu wholesale market
Where is Yiwu
People who aren't familiar with trade may have questions, what is Yiwu. Yiwu is the world's largest small commodity center, located in Jinhua, Zhejiang, China. Unfortunately there is no direct flight to Yiwu yet, but buyers can go to other cities, such as Shanghai, Guangzhou, Shenzhen, and then turn to Yiwu. Detailed travel methods can be referred to - How to get to Yiwu wholesale center.
Of course, Yiwu trip also needs to consider the issue of accommodation. Since most people visit Yiwu for purchasing purposes, it is best to reserve the hotel near the Yiwu market, so that you can easily go to Yiwu market wholesale products. We have selected some high quality hotels near Yiwu Market for you. You can also hire Yiwu agents, they will help you solve all problems.
What is Yiwu wholesale market
It is mentioned that Yiwu wholesale market, people usually think of the largest Yiwu International Trade City. The Futian Market may be a word that became popular earlier than Yiwu International Trade City, because the Futian market is the predecessor of Yiwu International Trade City. Yiwu market, Yiwu small commodity market also refers to Yiwu International Trade City.
But in fact, Yiwu has many other wholesale markets, and some of the professional streets of wholesale products are also suitable for buyers.
You can check further: Yiwu market specific map and other professional wholesale markets.
2. Yiwu International Trade City Introduction
Yiwu International Trade City is the world's largest small commodity wholesale market. The market is open throughout the year, and will only be closed during the Chinese New Year, about 15-20 days. So buyers need to avoid the Chinese New Year when they go to the Yiwu market to purchase products.
Although the market opens at 8:30 in the morning, not all stores will open on time. Generally, all shops will not open until about 9:30 in the morning. You should hurry up every minute in the market, because although the closing time is 5 pm, many shops will gradually close their stalls around 3 o'clock. If you don't want to miss any store, 10 am to 3 pm is your best shopping time.
When planning a trip to Yiwu, many clients will consider the number of days to stay and plan their purchases in advance. If you are familiar with Yiwu market and have many purchase experience, you can easily complete Yiwu purchase in two or three days. If you want to browse as many suppliers as possible, it is best to set aside 5-7 days.
There are tens of thousands of Yiwu products, so it is very important to know the area where the purchase type is located in advance. It is divided into five areas, each area is a separate building, which has aisles, you can walk through it directly. The following is a guide to Yiwu market area:
Yiwu International Trade City District 1
There are currently about 7,000 merchants in 1 district, with a total of 4 floors. 1F is mainly Yiwu toy market, Yiwu artificial flower market and handicrafts; 2F is mainly Yiwu headwear and jewelry market; 3F mainly deals with accessories, decorative crafts and festival crafts; 4F also contains toys, flowers and various decorations, concentrated a lot of holiday supplies.
If you want to wholesale Yiwu Christmas products, the third and fourth floors are your best sourcing areas. For specific content, pls refer to the Yiwu Christmas Market and Yiwu Toy Market Guide for a deeper understanding.
Yiwu International Trade City District 2
There are currently about 8,000 merchants in the 2 district, with a total of 5 floors. 1F is mainly the Yiwu luggage and umbrella market; 2F is mainly engaged in hardware tool accessories, locks, electronic products and auto parts; 3F is mainly hardware kitchen and bathroom, small household appliances, clocks and electronic instruments; 4F is the direct sales center of production enterprises, and Local pavilions, such as Hong Kong Pavilion/Korean Road Pavilion and other local boutique trading areas. 5F is the foreign trade procurement service center.
Yiwu International Trade City District 3
There are about 14,000 merchants in the 3 districts, which are divided into four floors. 1F: glasses, writing utensils and paper products; 2F sells outdoor products, office stationery, and sports goods; 3F sells various clothing accessories and accessories, as well as some cosmetics and beauty products; 4F sells mostly factory direct sales.
Yiwu International Trade City District 4
The 4 districts are the largest district, covering an area of 108 square meters and more than 16,000 merchants. All shops on the 1F sell socks. Socks can be said to be one of Yiwu's special products. The styles are very complete; 2F sells some daily necessities, knitwear, gloves and hats; 3F is mainly Yiwu shoes market , Lace, ties and towels; 4F is belts, accessories, scarves and various underwear, etc.; 5F is a tourist shopping center.
Yiwu International Trade City District 5
District 5 is the newest, with approximately 7,000 merchants operating here. Many shops here are very large, especially the 1F and 2F. In District 1 and District 2, some shops are only sized to accommodate one person walking sideways. And any store in District 5 may be 2-3 times the size of those stores. 1F is mainly Yiwu clothing market, daily necessities, jewelry, African handicrafts, etc.; 2F sells pet supplies, fish supplies and some bedding; 3F mainly sells needles and knitting related products; 4F sells auto parts and motorcycle accessories; 5F has many companies that serve market shop, such as packaging, printing, and shoot companies.
The advantages and disadvantages of Yiwu market
Advantages: low MOQ, many types, fast delivery time.
Disadvantages: language communication barriers, difficult to guarantee quality, troublesome delivery processing.
3. How to choose Yiwu market suppliers
Compare multiple Yiwu market shop
In Yiwu market, many shops of the same type often gather in the same area. When you choose a supplier, don't rush to make a decision. When you see your favorite product, take a photo or take out a notebook to record the price, minimum order quantity and other parameters and store location. If you plan to stay in Yiwu for a few days, you can wait until you return to the hotel in the evening before deciding. By the way, don't forget to ask the shop owner for contact information.
Make a strategy on Yiwu go in advance
Yiwu go is the official site of Yiwu Wholesale Market. Because Yiwu market suppliers generally don't update products on the site in time, going to Yiwu market is the best way to get the latest products. You can collect the contact information of Yiwu market suppliers and the specific location of the store through this site, prepare the Yiwu market sourcing strategy in advance.
Choose a shop that sells products in a specific category
Rather than a store that sells all types of products, it is better to choose a store that only sells the same type of products. This type of shop tends to be more professional, the quality will be better, and there will be more styles to choose from.
Note: Most of the suppliers in Yiwu market are middlemen. If you want to find many direct factories in Yiwu, the easy way is to find a reliable Yiwu agent who can provide one-stop export solutions.
4. How to ensure product quality
Clearly communicate the quality requirements
Any information about product quality, such as materials, dimensions, colors, etc., must be stated in great detail at the beginning. Otherwise, even if the supplier accepts your target price, it may also use cheaper materials and components to make your product. As your requirements are different, the quotation you get will also change accordingly. You can also ask for samples from suppliers, emphasizing that the quality of bulk products needs to be consistent with the samples.
Avoid infringing products
Don't look for big brands in Yiwu market. It is impossible to provide brand genuine products in any store in Yiwu market.
Any features related to the brand, such as unique design styles, artistic patterns, and character modeling should be avoided to ensure that their products will not violate the infringement regulations.
Understand the safety standards and regulations that product must comply with
Chinese suppliers are generally not familiar with safety regulations around the world, and it is difficult to automatically avoid materials that do not meet local safety standards and regulations for you.
You need to provide various certificates and test reports to sell in the local market. You must inform the suppliers in detail to ensure that they understand them and ensure that these points are also written in the transaction contract. Especially: cosmetics, electronics, toys and children's products. If the goods don't comply with the laws and regulations of your country, your goods will face the risk of seizure and destruction.
5. Price negotiation skills
Less first and more
Don't ask the boss for the price of a large-volume product at the beginning. This may make the boss think that you are not a sincere buyer. They may perfunct you, give you an average price, and don't take much care of you. But if you ask the price for a small amount at first, then ask for the price for a larger amount. They may give you a better discount.
Bargain carefully
Due to the concentration of shops in Yiwu Market, their prices are also “transparent”. The shop owner will often quote you an average market price directly. It may not be the most favorable, but it will not be an inflated price. So when you are bargaining with your boss, don't bargain heavily. This may make the boss annoyed and think you are an insincere business customer.
Reveal long-term cooperation intention
No one dislikes stable partners. In the conversation, it is revealed that you want to find long-term cooperative suppliers, and the supplier is likely to give you a better price.
6. Solutions to language barriers
Get a quote through the calculator
This is the traditional quotation method in Yiwu market. Market vendors who don’t know much about English will use calculators to tell buyers the price and MOQ. Please note that the prices here are all in RMB.
Translation software
Current translation software can help simultaneous interpretation and also supports voice input. The only disadvantage is that the translated meaning may not match the original meaning.
Hire a translator
Around the Yiwu market you can find many professional translators, or companies that provide specialized shooting and translation services.
Hire Yiwu Sourcing Agent
Most of the people engaged in sourcing agents in Yiwu are proficient in 1-2 foreign languages or even more. In addition to translating for you, the Yiwu sourcing agent will also communicate with the merchant for you, record your products, negotiate prices and place orders with suppliers in your name, check the quality, and finally ship the products to your country.
Note: Language barriers will also affect your procurement efficiency and results. Good communication can help you save costs and speed up the import process.
7. Is it necessary to use Yiwu Market Agent
First of all, we have to figure out the functions provided by the Yiwu market agent.
Basics: Accompanying purchases, collecting samples, transporting products, processing import and export documents, and translating.
Advanced: Consolidate cargo, warehousing, quality inspection, new product development, follow-up production.
For specific services, pls refer to the one stop export solution.
How to hire a reliable Yiwu sourcing agent
Goole search "Yiwu Sourcing Agent" or “Yiwu Agent", you will see some relevant information. If you have friends who purchase products from China, you can also consult them. You can also go to Yiwu in person to find a sourcing agent. In Yiwu market, there are usually many sourcing agents taking clients to purchase. You can ask for contact information to facilitate follow-up communication.
Don't trust low-priced sourcing agents, as they may deduct the cost from the operating expenses.
The general commission for Yiwu sourcing agents is more than 3% of the purchase amount. If it is less than 3%, be aware that they will increase their income in other ways, which may harm your interests. Generally speaking, choosing the largest sourcing company in Yiwu is the most reliable, because they have rich experience and perfect service process, and there are enough personnel to support your import.
8. Payment issues
Don't accept US dollars
All prices you discuss with local merchants in the Yiwu market are in RMB, and you cannot use US dollars to pay for the goods.
Payment method: Support wire transfer to bank account.
Don't pay by private bank, don't pay the full amount in advance.
If you want to avoid risks, pay attention to the above two points! Although most of the merchants on the market are honest merchants, there is always nothing wrong with being a little cautious and taking some precautions. For familiar suppliers who are in stock, you can also choose to pay directly according to the situation.
9. Transport products
If you haven't hired a Yiwu agent, then you need to handle the cumbersome shipping matters yourself.
Common transportation is express, sea, air, or land transportation.
Express: Express delivery can be delivered to your destination within 3-5 days, but the value is relatively expensive, and it is only suitable for small and valuable items.
Sea freight and air freight: Although sea freight and air freight have different modes of transportation, they are all traditional modes of transportation. If you want to transport your goods by sea and air, you can find export freight companies next to the Yiwu market. Find a transportation company that provides dedicated transportation services in your country and choose the one that suits you best.
China-Europe Railway: If your country is in a country along the "Yixin Europe", transporting goods by rail is also an excellent way.
There are many secrets worth exploring in Yiwu Market, and of course you can also visit nearby factories. If you have no experience in wholesale from Yiwu market, or want to save some time to focus on your own business. Don't worry, contact us-Sellers Union Group is the largest sourcing company in Yiwu, has helped many clients to import products from China profitably.
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