No matter you go directly to buy from the market or choose to go together with a translator from the agent, we would suggest you compare the price from as many suppliers as possible, then fix the best price.
As we mentioned above, the suppliers of the same product category are all suited together in the same area, so you only need to spend a little bit more time to check from some other shops nearby, then you can get a general idea for the price. Or you can also do some pre-preparation before going to the market by checking on the website of “Yiwugou” to find the supplier’s information and location inside the market. Once you identified some good suppliers online, you can visit their booths in the market directly without spending time showing around other shops.
Suggestions on Importing from Yiwu Wholesale Market
a. Find a good sourcing agent
This would be the most recommended way to start your business. Yiwu Market is large enough with complete product categories, you can buy almost anything here for your business. If you are familiar with this market, then you will get a lot of opportunities, but if not, you will also face a huge challenge. A good sourcing agent can indeed help you to release the challenge from the language barrier and time difference when negotiating for the orders and make your buying in Yiwu more smoothly and efficiently.
b. Choosing a reliable supplier
If a sourcing agent is not in your consideration, then you should choose a reliable supplier to keep a long term business relationship. A reliable supplier should meet the following requirement:
- good credit in business;
- update you in time for the order process
- quick-reply to your message;
- good production capacity
c. Bargain on the price
The price is the most important factor you will care about, most of us will bargain on it when do purchase. When bargain on the price of Yiwu Wholesale Market, we have two small tips for you:
- Before bargaining on the price, do some visit to other shops which are selling the same products to get a general price for the product, then choose a supplier which you are satisfied with and negotiate with them based on your target price, if your order quantity is large enough, they may offer you some discount.
- Bargain in a reasonable range. Yiwu is a wholesale market, the suppliers actually don’t have a large profit when facing the fierce competition from other suppliers, so if you ask for the price that is lower too much than their quotation, then they will regard you as an unreliable client and reject on your price, or even they accept, they will use other cheaper material instead to produce your products to keep their own profit.
d. Make full preparation before placing the order
Before buying from Yiwu, you should make a full preparation for your order:
1. Find out the items you want to purchase and get to know it from all aspects.
–Always know what you want to buy and get full knowledge of your products like materials, sizes, function, etc. There are so many suppliers on Yiwu markets, some of them are selling similar goods, with the same appearance, but different material. So if you don’t know your items well, then you may get the wrong products you want.
2. Familiarize the rules and regulations for importing from China
–know exactly on which regulations you need to comply with when import from China to avoid problems at customs.
3. Know the commodity codes of your importing products.
–It can help you fill out customs paperwork accurately;
–You can look up other important info like duty rate and trading restrictions through the commodity codes.
4 Facts You Should Know About Yiwu Wholesale Markets
Buying from Yiwu market, there are some points that you must know, that may help you a lot in your future business in Yiwu.
1) Are all suppliers on the market operated by factories?
There are so many booths on the market, but all of them are operated directly by the factories? The answer is “No”. Actually there are only 20-30% of the suppliers in the market are owned directly by a factory, while others are operated by the trading companies or personal businessman. they don’t have a factory by their own, they will cooperate with many factories instead of their long-term basis. If you don’t want to buy in a large quantity for the first time, you can try to cooperate with them, they can sell in small quantity and better price. But if you want to buy in large quantity, then you’d better find the booths which is owned by the factories directly, that can save you more money.
2) Are products in the Yiwu market really with poor quality?
You may read the articles from the internet which says that the quality of the products in Yiwu market are really terrible, and even can not export to the European and American countries. That is not true.
Yiwu market not means made in Yiwu. For Yiwu wholesale market is a comprehensive market, it has attracted a lot of manufacturers from other countries. They base their shop here because of the international influence of Yiwu city so that they can meet more customers. For example, Nantong city is famous for home textile products, but very few foreign buyers know that city, so many of the Nantong suppliers will base their shops at Yiwu market to attract more customers, but the products will still be produced in Nantong with good quality material.
3) Are the Yiwu market only suitable for small business?
Also, there are some articles that say that the Yiwu market is only suitable for small businesses. But the truth is that the Yiwu market will always request a higher MOQ than the markets in other cities if you want to customize your products. If you ever buying from Guangzhou markets, you will know that they can sell the items in only some pieces. But in the Yiwu market, very few suppliers will sell in such small quantities with customized products. But on the other hand, they can also sell in very small MOQ if you only need regular items.
4) Differences between the Yiwu market and the Guangzhou market?
Many people know Guangzhou because of the Canton Fair. Guangzhou is also a famous trading city the same as Yiwu, even a lot of foreign friends set up their branch office in Guangzhou for procurement convenience. So what’s the difference between these two markets?
Guangzhou market is specialized in jewelry, bags, garments, shoes, and some other related items. There are also some specific markets distribute around Guangzhou like Foshan Furniture Market, Zhongshan Lighting Market, Shenzhen Electronic Market, but they are separating in different cities. also in Guangzhou Market, different category products sell in different markets, so if you want to buy different kinds of products in Guangzhou, that is not easy, for you will have to visit some different markets.
For Yiwu market, the product category is more complete, and most of them are distributing in Yiwu international trade market, even the other market we mentioned above are near the Futian market, so you don’t have to waste time on the traffic to visit different markets for your items checking.