Yiwu: The Commodity Hub

By Author: Morkel Smith
Total Articles: 25
Comment this article

Yiwu is in Zhejiang province, covering 4 million-square-meter area. It is International Trade City has 62,000 shops selling 1.7 million products at razor-thin profit margins. It is famous for trading the bulk of the world's Christmas decorations and other commodities like socks, buttons and zippers, hair bands and earrings, trinkets and stationery etc.

Although the goods are available at low-cost, their quality is maintained. Quality is something one would never compromise. The best part of this hub is that it offers both affordable goods and quality. That is how it attracts millions of wholesalers, retailers and even shopaholics from different countries. Who would not want to buy premium quality products at affordable rates? Goods are sold at minimum margins and in turn wholesalers and retailers flock into this world-class market to maximize their profits. As the products are manufactured here, their cost is relatively low.

It has already a large pool of clients across the globe and delivers millions of products in many countries; it aims even higher and has very strong further growth prospects. One can plan ...
... entire itinerary and can get a very comfortable stay here. The country size market has developed its infrastructure to a great extent. Buyers don't have to bother about language and looking for products. There are many agents here who plan your entire stay and ensure that you have a worry-free shopping experience there. Many customers visit to place wholesale orders and there is no worry about product transportation. These agents even deliver products at your doorstep regardless the country where you stay and weight and size of the luggage.

Nevertheless the competition in Yiwu is very fierce and there arise the need to be more competitive by doing innovative things. This tough competition results in huge variety of products and one can find so many unique products out there. This is what makes it a vibrant and thriving international trade center. It is the world's largest small goods market and aims to quadruple the floor space devoted to selling goods by next year.

Infrastructure in the city is really well-developed and it has helped Yiwu to become a modern cit with an international market. It is well-connected with other cities and countries. It has an airport with a 4C-grade that proposes to serve a dozen of domestic destinations. Streets, peripheries and expressway networks have been developed, respecting the idea of a ‘green city'. There are many public gardens in here. This market has been awarded many times, for its economic and social development as well as for the results of its original ambition to become the supermarket of the world for small commodities, a paradise for foreign traders from all over the world.