A Brief about Yiwu International Trade City
In Zhejiang, China, approximately 1.5 hours abode an express train from Shanghai, you will reach the Yiwu International Trade City or commonly known as the “Commodity City”.
It attracts both wholesale retailers and small-volume buyers mainly from China, the Middle East, Russia, and Africa.
As a retail wholesaler, a booth in the Yiwu center guarantees you an opportunity to sell large quantities of your products.
Meanwhile, as a small-volume buyer, you can buy off-the-shelf products from different sellers or booths in small quantities which can be shipped in one consignment.
Some buyers also found Yiwu International Trade City better than other wholesale fairs because it accommodates small-volume transactions.
The Yiwu International Trade City is considered as the world’s largest wholesale market offering at least 400,000 affordable commodities and goods, including clothing, jewelry, craft supplies, office supplies, toys, and among others. You will find an inventory of products being sold in the market in Yiwu Market Guide.
This trading market is composed of five districts, 75,000 booths and 100,000 suppliers which cater to 200,000 buyers per day. Because of its vast area, it is usual to expect good product segmentation and small Minimum Order Quantity or MOQs. For example, more than a dozen booths specialize in hair ribbons.
Almost 70% of the suppliers found in this trade market are factory outlets so the prices are noted to be mid to low-range. You can also buy online from the Yiwu Market however suppliers do not often update their items and quantities online.
How to navigate Yiwu?
The Yiwu marketplace has five districts. In this section, a summary of product inventory per district is provided for you.
· District 1
District 1 is the busiest of all five districts which occupies a total area of 340,000 m2.
It has four floors wherein toys and artificial flowers are in the 1st floor, jewelry is being sold in the 2nd floor, arts and crafts and jewelry accessories are in the 3rd floor, and big product showrooms are found in the 4th floor.
Fast food chains and ATM machines are also located inside this building.
· District 2
Meanwhile, District 2 has a total area of 640,000 m2 and has five floors. However, booths are only positioned in the first three floors, because 4th and 5th floors contain product showrooms, the Hongkong Mall, South Korean Mall, and the Sichuan Mall.
In the 1st floor, you will find umbrellas and rainwear and bags including packaging accessories such as plastic bags and shopping bags.
Hardware tools and electrical accessories are located on the 2nd floor, while home appliances, electronics, telecommunications gadgets and accessories, and watches and clocks are on the 3rd floor.
You will also find the Best Western Ocean Premium Hotel in this district.
· District 3
Similarly, District 3 also has five floors and holds almost 7,000 booths. Stationery and office supplies are found in the district’s 1st and 2nd floors and cosmetics and beauty products, textile accessories such as buttons and zippers, and sporting and travel products are in the 3rd and 4th floors.
The 5th floor, on the other hand, contains services offering logistics and shipping, banking, accommodation, travel, catering, and entertainment.
· District 4
This district has approximately 20,000 booths mainly specialized in clothing and textile products.
The different goods that can be seen in every floor are socks in the 1st floor, gloves and hats in 2nd floor, shoes and textile accessories such as ribbons, laces, belt buckles and threads in 3rd floor, and underwear and lingerie, belts, and shawl in 4th floor.
Additionally, you may also find supermarket products and consumables in this district.
· District 5
Of the five districts, District 5 is the youngest building which was constructed in 2011. Imported products are found in its 1st floor, while bedsheets, Chinese knot, and DIY craft supplies are in the 2nd floor, curtains, textile and fabric materials are in the 3rd floor, and car or auto accessories are in the 4th floor.
How to buy efficiently and strategically from Yiwu?
When you are buying from the Yiwu market, it is best to consider the quality, price, quantity, and delivery time of the products. As mentioned, there are almost 400,000 products that are being sold in Yiwu market.
So, the most important tip to remember is to plan ahead and do extensive research on the products, suppliers, booths, and store locations. You will find some suppliers and booth information from Yiwu’s official website here.
Do not hesitate to compare the prices of the goods that you are planning to buy. One of Yiwu market’s best feature is that similar goods and products are grouped together and can be found in one location so price comparison between the different shops is possible.
Verify the quality and authenticity of the products. As a rule of thumb, do not buy from suppliers who do not allow their buyers to verify the product quality. It is advisable to buy from factory direct sale booths which often offers higher quality. One tip in distinguishing a factory direct sale booth is that they have a physical product catalog.
Negotiating or bargaining the price is quite common in Yiwu International Trade City. Suppliers often quote you a wholesale price, however, some sellers allow 2-5% discount for small quantity sales and 5-10% bargains for larger quantities.
Another tip in buying from the Yiwu market especially if you plan to buy products from different suppliers is to hire an honest and reliable Yiwu Local Sourcing Agent.
A local sourcing agent is responsible for sourcing, negotiating the price, and gathering your products while you select in the comfort of your hotel room. After you made your decision, the agent will pay and handle the logistics and shipping on your behalf.
How to ship the products bought from the Yiwu Market?
For international wholesalers, approximately 20-40% of Yiwu suppliers are not exporters. It is therefore advisable to find a trading company or agent who can assist you in exporting or shipping the goods that you bought from Yiwu.
Sea, air and railway shipping are allowed in Yiwu market. For sea shipping, shipping prices vary based on full or less than container loads. Moreover, logistic companies require for additional operation charge for customs declaration.
Air shipping, on the other hand, is handled by couriers such as DHL, UPS, FedEx, TNT, EMS, and SF and may take 3 to 15 days. Railway freight is also possible from Yiwu to European counties like Germany, Spain, and Poland.
How to plan your first visit to Yiwu International Trade City?
Before going to the Yiwu trade center, it is better to be equipped with the following information to maximize your visit to the center’s five districts. It is also best to plan at least three days in visiting Yiwu as 1-2 days are often not enough to cover all the districts.
· Opening Hours
As compared to other wholesale exhibition fairs which only happen once or twice a year, the Yiwu Trade Center is open year- round (including weekends) from 8:00 a.m. to 5:30 p.m., except for the half-month closure during Chinese New Year.
Additionally, it is common for some shops to close before 5:30 p.m. so it is advisable to plan your visit before 4:00 p.m.
· Yiwu Market Guide
It is advisable that when you visit the market, make sure to download and install the Yiwu Market Guide application to help you in your navigation.
Walking around the labyrinthine market can be a little daunting especially for the first-timer. The market guide app can visually show the location, in terms of district and building, and floors of the different products.
· Shuttle Services
The Yiwu International Trade City offers 10 free shuttles and buses which bring its customers around the five districts. Of note, line 1 buses can be boarded anywhere while line 3 is a non-stop bus and has its specified bus stops.
· Wi-Fi Internet
The Yiwu market has an available wi-fi internet connectivity. However, in order to connect to the wi-fi, you should have a Chinese sim card where you will receive the connection password or code.
Majority of the shops do not accept international credit cards so make sure that you bring enough cash for your shopping. It is best to check with your customs on the amount of cash to bring.
ATM machines and banks which are located in almost all districts can dispense cash. Also, some product showrooms accept bank cards but only for bank cards within China.
Compared to China wholesale fairs, one notable disadvantage of trade markets, such as in the Yiwu International Trade City, is that not every seller speaks English.
However, there are agents, travel guides, or translators that you can hire to come with you during your visit. These guides will also protect you in buying from fraudulent suppliers.
So that’s my post all about the Yiwu International Trade City and how to plan your visit accordingly.
- REGISTRATION Yiwu International Trade City