The China Yiwu market is booming, that thousand of Amazon and eBay sellers who import their commodities solely from Yiwu markets. But there are some points you must know about importing from Yiwu market, or it will waste your time and energy. A better understanding of Yiwu market will help you do your business better.
As many people know, Yiwu is a pretty much famous city in Zhejiang, China with a population of about 1,200,000 people. It is a city that grew in “fame” for its business and commodity trade markets. It is also known as the China Commodity Centre (CCC) in the whole world. The city has grown tremendously and has dominated the small commodity trade market making it even popular amongst online e-commerce companies like Amazon. This article will focus on answering a few popular questions about importing commodities from Yiwu market for Amazon sellers.
Are Yiwu Markets Really of Poor Quality Products?
Most sellers today are pretty scared of venturing into the Yiwu markets for fear of poor quality products. The question majority of new Amazon sellers looking to import from Yiwu markets is “are Yiwu markets really of poor products?”
The short answer is no!
Yiwu has been known to thrive and be the giant when it comes to small commodity trade. I think most sellers get this perception because the city is known for “small commodities” giving the idea that the quality of products there are “small”. Also, some websites write that Yiwu products are not of quality and they shouldn’t be imported into the United States. That is not true because there’s a lot of myths circulating about the city.
One particular thing Amazon sellers should know is that not all products that are from Yiwu are actually made in Yiwu. Some products tagged “Yiwu” are actually made elsewhere and sold in Yiwu.
Yiwu Market is Only for Small Business?
On some websites, I’ve read and seen that Yiwu markets are only meant for small business ventures. Thing is; it simply depends on the kind of business you want to venture into. Yiwu market is a business center that could be meant for any sort of business regardless of its size or revenue.
The market is suitable for a business that imports 2, 3 or 5 containers of goods and products.
The Most Cost-Effective Hotel
There are tons & tons of hotels in Yiwu thus it can be a little difficult to pick from the best one that is most cost-effective. Picking a hotel depends on your budget and needs. Here are handpicked three (3) comfortable cheap hotels in Yiwu you could consider;
Shangri-La Hotel, Yiwu – Shangri-La hotel is a four (4) star hotel in Yiwu that is pretty cheap for what you get. The hotel has several 4 and 5-star ratings and only costs somewhere around $90-$100 per night for a decent room.
Ramada Plaza Zhejiang Hotel: This is another 4-star hotel in Yiwu and is cheap too. The hotel has good ratings and reviews and costs around $50-$55 per night for a good room.
Yiwu ShangCheng Hotel: Yiwu ShangCheng Hotel is also another 4-star hotel in Yiwu. It has several restaurants and a spa. The hotel also costs around $50-$56 for a night.
Airbnb is also a great option if you don’t want hotels. You can find even cheaper deals on Airbnb that most Yiwu hotels.
Yiwu Market Suppliers all Operated by Manufacturers?
Not all market suppliers are operated by manufacturers. In fact, most suppliers in Yiwu are individual businesses who simply buy from manufacturers and sell.
Other market suppliers are operated by trading companies. It is advised to go for these trading companies when purchasing commodities in large quantities rather going to manufacturers.
The Popular and Safe Payment Method in Yiwu Market
Most sellers in Yiwu market will not accept PayPal or stripe payments. The two (2) most popular payment methods in China are Transferwise https://transferwise.com/ and International wire transfer (bank transfer).
The two (2) payment methods mentioned are both safe and protect both parties involved in each transfer.
How to Get to Yiwu Wholesale Market from Yiwu Station?
This basically depends on the station you are at. You could get to Yiwu wholesale market from Shenzhen station or Guangzhou railway station.
From Guangzhou railway station, it takes about 7 hours to get to Yiwu on a high-speed train. The ticket price depends on the class you go for; the first, second and business class which cost $170, $103 and $327 (US) respectively.
To go from Shenzhen, you have to first go to Guangzhou using a high-speed train then catch another high-speed train to Yiwu because there is no high-speed train from Shenzhen to Yiwu.
How to Negotiate Price with Yiwu Supplier and Avoid Being Cheated
Negotiation can be a big deal to buyers especially westerners. This is so because most are not conversant with the process in their country.
Before going to Yiwu, be sure to do your deep research about the transaction in Yiwu, the products you want to buy, best product sellers and the price range. Another thing is to ask and compare prices from different sellers before buying.
Do not be afraid or shy of negotiating with sellers as they can use this to inflate prices 2X higher than they should.
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