A big inevitable issue is where to find suppliers when you want to start a business. If you are lucky to get a low price for your products to earn enough margin, it would be a beneficial start. In China, Yiwu is the best place to import goods to realize your business dream.
Yiwu is a world-renowned city for international small commodity trading. Products from Yiwu are exported to over 210 countries and regions. Every year, over 550,000 buyers come to Yiwu to source products and nearly 20,000 foreigners from all over the world settle down in Yiwu now.
What on earth makes Yiwu so attractive to businessman? As a native of Yiwu, I will discuss Why Yiwu is one of the best places to import from China from five aspects based on my experience.
1. Largest wholesale market in the world
The world’s largest wholesale market in Yiwu is named Yiwu International Trade City, covering more than 4 million square meters. It has 75,000 booths and sells 1.8 million kinds of commodities in 26 categories. It is said that if you spend three minutes staying in each booth and eight hours a day, it will take you a year and a half to visit the whole market. Now can you imagine how large it is?
Different from the canton fair, Yiwu International Trade City opens every day except Spring Festival. However, the canton fair is only held two times per year. Besides the time factor, it can be quite troublesome to visit a fair. You have to register ahead of time, pass the security check, and find suppliers in a limited time. By contrast, visiting Yiwu International Trade City is much easier and convenient.
Besides Yiwu International Trade City, there is also te Huangyuan Clothing Market, International Production Material Market, and many specialized streets. If you plan to go to the wholesale market, there is an ultimate guide to Yiwu wholesale market you’d like.
2. Lowest wholesale prices
As markets in Yiwu are well organized, the suppliers of the same category are all concentrated together. Thus the competition among operators is very fierce and the price has to be relatively lower.
Another reason for the low price in Yiwu is that a lot of migrant workers have come to Yiwu to earn their living in recent years. In this way, the labor cost in Yiwu is lower than in other cities.
Do you know that many of the exhibitors in the canton fair are manufacturers or large trade companies? Under the circumstances, the price in the canton fair would be higher at 5%-15%. So, you can come to Yiwu if you want to get the lowest wholesale prices.
3. Low MOQ for small business startup
What does it mean to have a low MOQ? As I have mentioned above, the prices of products in the canton fair could be quite high. And the MOQ in the canton fair can reach up to $3000-$5000. While in Yiwu, $100-$200 is enough for each product in stock. So you can buy as many styles as possible to see what products would be a hot-sell, but you can hardly operate like this in a trade show.
Low MOQ is friendly to small businesses. If you want to do your business on eBay or Aliexpress or open a supermarket, you can come to Yiwu to buy all kinds of goods and then consolidate them into a shipment. Alternatively, you can store your goods in China and ship directly to your customers as you get orders on your store. This will greatly reduce your shipping cost and help you start up your business.
4. Sufficient packaging suppliers
Most shrewd operators would bundle sales on e-commerce platforms. For example, an eraser may be recommended when the customer wants to buy a pencil. It is a common skill to lure customers to buy both of them and in this situation, you need some special packaging to bundle them to make your products more competitive. When an idea crosses your brain and you’d like to create a new product, then packaging is needed as well.
The packaging is the coat of a product which would influence the first impression directly. No matter normal or exquisite packaging, you can find them from suppliers in Yiwu at a low price. You can also custom your own packaging and private label them to make your own brand, which can be much profitable.
There are sufficient and various packaging suppliers in Yiwu, you can easily and efficiently find the best supplier in Yiwu wholesale markets with a low MOQ and budget.
5. Various and continual trade shows
Besides wholesale markets, there are various and continual trade shows held in Yiwu annually that you can go for import, where you can find real manufacturers.
Such as, Yiwu International Commodities Fair, the third largest trade fair in China after the canton fair and the east China fair, which is also known as a mini canton fair. And China Yiwu Imported Commodities Fair, one of “China Top 10 Most Distinctive Fairs” which deals with imported daily consumer goods.
If you want to wholesale a large amount and find manufacturers with sufficient budget, then you can check the Yiwu Trade Fairs Review to put them on your schedule. But you‘d better register for the fair as early as possible when the online access to registration is available. And check the date of the fair to book the hotel in advance