How to find suppliers from Yiwu Market [Full Guide]

How to find suppliers from Yiwu Market? [Full Guide]

Where is Yiwu?

Yiwu, located in the central of Zhejiang Province, which develops from originally an agricultural city to a commodity market place. Due to the central location, Yiwu is simultaneously a distribution center of Zhejiang, whose amount of foreign trade accounting more than 15% of China.

The history of Yiwu Wholesale Market

Feel free to skip this part if you are not a history person, but, knowing it better will make you deal with your business better there right? We will share the history of different stages of Yiwu as a person who born there for you to get familiar with this city.

DocShipper Advice : You should always keep in mind that DocShipper will always work on optimizing the logistic processes in order to maximize your results, your costs and will also support you throughout the purchasing process: supplier research, negotiation, quality control.

The First generation of Yiwu Market

first-generation-of-yiwu-market

Yiwu Small Commodity Market originated in the late 1960s. As the Reforming and Opening-up Policy in China begins, the small commodity market started to spring up in Yiwu. In the special era, under the contradiction between the superior's order to prohibit, ban, and semi-legal "exchanging candy for chicken feathers" and the need for the existence of the market, wholesale and retail seasonal market was quietly born. In 1984, the turnover of this market reached 24 million RMB, and the goods were mainly sold to the counties and cities around Yiwu.

The second generation of Yiwu Market

Second generation of Yiwu Marke

Along with the development, the need to expand the market has increased greatly. After the second generation market opened, nearly 2,000 stalls were quickly set up and more than 10,000 people came to trade in the market every day, among which more than 60% were not local people and there was an endless stream of applications. At that time, no matter the popularity, fame, information, or traffic, the local and Yiwu commodity market are beyond comparison.
In 1986, the turnover of the Yiwu market exceeded 100 million RMB, and the range extended from the surrounding counties and cities to the province and beyond.

The third generation of Yiwu Market

Third generation of Yiwu Market

In the third phase, there was a question of whether to continue to expand the market or to retain agriculture. In the end, a compromise was reached, and the market broke ground in December 1985, and by mid-September 1986, a large market was completed with a railway station platform, covering an area of 44,000 square meters, 4,096 stalls, and a total investment of 4.4 million yuan, which could accommodate 30,000 people trading on the site.
In 1991, the turnover of the Yiwu market exceeded 1 billion RMB.

The fourth generation of Yiwu Market

Fourth generation of Yiwu Market

Yiwu fourth-generation market was organized in 1990, construction began in 1991. On January 17, 1992, it passed through the handover inspection and acceptance, with the ability to arrange 7100 stalls. So far the construction area of the Small Commodity City has expanded to 228,000 square meters and the number of stalls increased to 23,000.
In 1992, the turnover of China Commodity City was 2.1 billion RMB, in 1993 it was 4.5 billion RMB, in 1994 it soared to 10.21 billion RMB, and in 1995 it reached 15.2 billion RMB.

Yiwu Market in China

The foreign trade export rate of commodities is over 60%, more than 90% of the business seats undertake foreign trade business, and the commodities are sold to more than 140 countries and regions. This place is definitely friendly for business people all over the world. Before you are going, check our pre-planned suggestions to know more about your trip.

 

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Secrets you need to know about Yiwu Wholesale Market

Tip 1: Only 20 or 30 percent of the shop owners in Yiwu Wholesale Market are direct factories, the left 70% are trading companies. What is the difference between them? Trading companies purchase from the factories as well then sell the products to you. So making a distinction between these 2 types will save you a sum of money.

Tip 2: Since there are like 5 zones in the Wholesale Market, each of them has around 5 floors, there are thousands of suppliers. Importantly, most of them sell the same type of products on one floor. Therefore, there is one phrase called "Price Transparency". Basically, they sell the products at the same price - beyond or lower but not that much big difference. Don't cut the price too sharp when negotiating with the suppliers, because they might think that you are not a serious buyer.

Tip 3: As the name suggested, it's a wholesale market. Therefore, there are requirements for the minimum order quantity, which shouldn't be less than 100-200 pieces per product. The more you buy the more benefits you are going to enjoy. Show the suppliers that you are serious and they will make this deal with you sincerely.

Tip 4: This Yiwu Wholesale market is like a permanent showroom in China of small commodities, and it opens all year long including all the national holidays. One exception: they will close at Chinese New Year, around the month of January to February. For example, this year, it's January 25. So pick your time and go there.

Tip 5: Notice that the products in Yiwu Market are not all produced in Yiwu, for example, there are some electronic products produced in Guangdong or Shenzhen. If it really matters for your business, chat with the suppliers, and know more information about the products as much as you can.

DocShipper Advise: You don’t have to worry about your logistical routing and the conformity of your electrical products, you can count on our 3PL (Third Party Logistics) to handle the entire process safely. Do not hesitate to contact our agents!

Regulations concerns when importing from Yiwu

Regulations in the USA

Along with the trade war between China and the USA, you need to take into consideration the regulations when importing from China. There are 2 basic certificates and regulations you need to take care of.

CPSIA: It's a framework regulation that applies to toys and children's products. Including the products that are marketed towards those appropriate for children aged below 12 years old.

FCC: The Federal Commission of Communications (FCC), it regulates communication devices and electronic devices that are going to be sold in the USA.

Regulations in Europe

There's one specific mark you ought to have or your products might be denied entry to the European market. It's a CE label. Remember to check with your suppliers about the label of their products before importing them.

CE: The CE label is used for protecting consumer health, the environment as well as supply chain safety. Industries requiring the CE label are, which means you have to be careful about the following industries when importing: EEE(Electrical Equipment and Electronics)/ Children's toys/ Machinery

Regulations in other countries

The regulations in countries might vary from each other, but there are basic documents you need to fill in for customs clearance. Check our guidelines for you about them and make your shipment smoother:

Bill of Lading: The bill of lading is used as the basis for handling the rights and obligations of both parties in the transport between the carrier and the shipper. It includes all the information such as The name of the carrier; The name of the bill of lading; B/L No. of B/L.; Shipper; Consignee and etc.

Packing List: A packing list is a document that supplemental to an invoice. It lists the items agreed upon by the buyer and seller in a letter of credit (or contract). The details of packaging matters for the foreign buyer to facilitate customs inspection and verification of the goods when they arrive at the port of destination. It can usually be added to commercial invoices, but where a letter of credit specifically requires it, it must have complied with the L/C.

If your destination countries have other requirements, don't hesitate to contact us for helping. Docshipper has already assisted thousands of people who has been dealing with importing business, we can give you the most accurate guidance.

YIWUGO.COM online

It's a rather hard time traveling. As you know, the global pandemic stands in our way to go to China and join the everlasting exhibition. Here we present you another way to choose your products and suppliers among 75,000 suppliers - Yiwugo.com. You can shop like in Alibaba.com and in 1688.com as you wish, which saves you a lot of difficulties amid what happening right now.

 

DocShipper Advise: You can count on DocShipper if you're in need of any packaging and protection service to relive. Do not hesitate to contact us.

Comparisons with Alibaba.com and AliExpress

Alibaba.com

Logo-alibaba-group

Aliexpress

aliexpress

Yiwugo.com

 

yiwugo

What are the pros and cons of the world's biggest trading market?

The good news is that all the cons can be turned into Pros if you get a professional agent for helping you from the sourcing side to shipping. That's what Docshipper does: We have solved thousands of clients' obstacles when dealing with importing from China. Come to us and you won't regret it.

How to deal with Yiwu Market Suppliers?

If you are going there in the local market, we have 3 suggestions for you:

How to ship your products?

Now that you have decided to work with one of them, you can just leave the shipment of the products to us without hesitation. There are three ways of shipment you can use for the shipment from China. Contact with us if you are interested with any type of the shipment.

DocShipper Advise : We help you with the entire sourcing process so don't hesitate to contact us if you have any questions!

  • Having trouble finding the appropriate product? Enjoy our sourcing services, we directly find the right suppliers for you!
  • You don't trust your supplier? Ask our experts to do quality control to guarantee the condition of your goods!
  • Do you need help with the logistics? Our international freight department supports you with door to door services!
  • You don't want to handle distribution? Our 3PL department will handle the storage, order fulfillment, and last-mile delivery!

 

DocShipper Sourcing | Procurement - Quality control - Logistics

 

Alibaba, Dhgate, made-in-china... Many know of websites to get supplies in Asia, but how many have come across a scam ?! It is very risky to pay an Asian supplier halfway around the world based only on promises! DocShipper offers you complete procurement services integrating logistics needs: purchasing, quality control, customization, licensing, transport...

Communication is important, which is why we strive to discuss in the most suitable way for you!

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