5 Things you need to know in Yiwu market

Yiwu market

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Commodity price difference

Yiwu market

Yiwu Wholesale Market is a small commodity market with the most complete variety of commodities and the cheapest price.

With the fierce competition in the Yiwu market, there are more than 75,000 booths and a wide price range exists. Similar goods will also have common price differences, and there may be a 5-10% price difference. When the price difference is very large, the problem may lie in the quality of the product. You can search for the price range of products in the market and select suppliers that meet your expected budget needs and product quality.

Supplier qualification

Supplier qualification is an issue you should be concerned about. So how do you know whether the supplier has a certain degree of management experience?

You need to ask the supplier for a business license and a certificate of qualification for product testing. The business license is a unified business license issued by the State Administration for Market Regulation of China, which can guarantee the legitimacy of the business. However, the inspection certificates of various commodities can guarantee the quality of the products.

MOQ

The minimum order quantity is also called MOQ. Importers generally encounter them in the process of looking for suppliers to purchase products. For an order, the supplier is only willing to start production if the order quantity exceeds MOQ.

The minimum order quantity generally depends on the supplier’s production cost, which includes not only labor and material costs, but also startup costs, and other special costs. Not only is it complicated and time-consuming, but the overall cost is also high.

Sample Catalog

Union Source sample catalog

In the Yiwu market, general wholesalers will not provide sample books on their own initiative, unless you actively ask for it. Because there are too many products in the Yiwu market, and the update speed is very fast.

If you have a good relationship with the supplier, you can ask them for it.

Or if you have a sourcing agent you are cooperating with, they will be happy to proactively provide the latest sample book and recommend more popular products.

Online Yiwu Market

Due to COVID, many importers may not be able to come to China. Is it wired? The answer is yes. Yiwu Gou (www.yiwugou.com) is an online Yiwu market, mainly providing an online display, Sales, procurement, and value-added services such as agency operations, product bidding and promotion, and integrity protection.

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