HOW TO FIND SUPPLIERS FROM YIWU MARKET? [FULL GUIDE 2023]
Now imagine that you need to buy your nephew a toy car in a market, or a store near your apartment. How much does it cost? Normally it’s like $20 or above. However, if you are going to get 100 toy cars, the price can be negotiable and it’s definitely less than what we have suggested. Why? That’s the advantage of bulk purchasing. Imagine if you can save only 20 cents daily, then that will be $73 in your bank account per year. Here we have the best place for your buying in bulk which can save you a huge amount of cost- Yiwu Wholesale Market, which basically a place resembles Alibaba, offering the lowest price but in the meantime, you can really feel the quality of the products offline by yourself.
Where is Yiwu?
Yiwu, located in the central of Zhejiang Province, which develops from originally an agricultural city to a commodity market place. Due to the central location, Yiwu is simultaneously a distribution center of Zhejiang, whose amount of foreign trade accounting more than 15% of China.
Yiwu Wholesale Market is like an Everlasting Commodities Fair and at the same time the largest export center in China. All over the world, there are around 500 thousand types of products, more than 300 thousand are from Yiwu, which covers sports goods to toys, etc. In Yiwu Wholesale Market, the goods are cheap and it has everything you desire. It’s secret to success is the Low Price Strategy.
Yiwu Market in China
The foreign trade export rate of commodities is over 60%, more than 90% of the business seats undertake foreign trade business, and the commodities are sold to more than 140 countries and regions. This place is definitely friendly for business people all over the world. Before you are going, check our pre-planned suggestions to know more about your trip.
- Secrets you need to know about Yiwu Wholesale Market
- Tip 1: Only 20 or 30 percent of the shop owners in Yiwu Wholesale Market are direct factories, the left 70% are trading companies. What is the difference between them? Trading companies purchase from the factories as well then sell the products to you. So making a distinction between these 2 types will save you a sum of money.
- Tip 2: Since there are like 5 zones in the Wholesale Market, each of them has around 5 floors, there are thousands of suppliers. Importantly, most of them sell the same type of products on one floor. Therefore, there is one phrase called “Price Transparency“. Basically, they sell the products at the same price – beyond or lower but not that much big difference. Don’t cut the price too sharp when negotiating with the suppliers, because they might think that you are not a serious buyer.
- Tip 3: As the name suggested, it’s a wholesale market. Therefore, there are requirements for the minimum order quantity, which shouldn’t be less than 100-200 pieces per product. The more you buy the more benefits you are going to enjoy. Show the suppliers that you are serious and they will make this deal with you sincerely.
- Tip 4: This Yiwu Wholesale market is like a permanent showroom in China of small commodities, and it opens all year long including all the national holidays. One exception: they will close at Chinese New Year, around the month of January to February. For example, this year, it’s January 25. So pick your time and go there.
- Tip 5: Notice that the products in Yiwu Market are not all produced in Yiwu, for example, there are some electronic products produced in Guangdong or Shenzhen. If it really matters for your business, chat with the suppliers, and know more information about the products as much as you can.
Regulations concerns when importing from Yiwu
Regulations in the USA
Along with the trade war between China and the USA, you need to take into consideration the regulations when importing from China. There are 2 basic certificates and regulations you need to take care of.
CPSIA: It’s a framework regulation that applies to toys and children’s products. Including the products that are marketed towards those appropriate for children aged below 12 years old.
FCC: The Federal Commission of Communications (FCC), it regulates communication devices and electronic devices that are going to be sold in the USA.
Regulations in Europe
There’s one specific mark you ought to have or your products might be denied entry to the European market. It’s a CE label. Remember to check with your suppliers about the label of their products before importing them.
CE: The CE label is used for protecting consumer health, the environment as well as supply chain safety. Industries requiring the CE label are, which means you have to be careful about the following industries when importing: EEE(Electrical Equipment and Electronics)/ Children’s toys/ Machinery
Regulations in other countries
The regulations in countries might vary from each other, but there are basic documents you need to fill in for customs clearance. Check our guidelines for you about them and make your shipment smoother:
Bill of Lading: The bill of lading is used as the basis for handling the rights and obligations of both parties in the transport between the carrier and the shipper. It includes all the information such as The name of the carrier; The name of the bill of lading; B/L No. of B/L.; Shipper; Consignee and etc.
Packing List: A packing list is a document that supplemental to an invoice. It lists the items agreed upon by the buyer and seller in a letter of credit (or contract). The details of packaging matters for the foreign buyer to facilitate customs inspection and verification of the goods when they arrive at the port of destination. It can usually be added to commercial invoices, but where a letter of credit specifically requires it, it must have complied with the L/C.
If your destination countries have other requirements, don’t hesitate to contact us for helping. Docshipper has already assisted thousands of people who has been dealing with importing business, we can give you the most accurate guidance.
How to deal with Yiwu Market Suppliers?
If you are going there in the local market, we have 3 suggestions for you:
Have a target
There are 5 districts which 4/5 floors in which, so you should have your target before you go there. Find your target suppliers before on YIWUGO.COM, so you won’t miss anything when you enter the huge market
Make notes
After you go through the booths of the suppliers, write down the details of the shop and note the district then take a picture with the photo of the booths so you can find them when you intend to come back.
Visit the factory
Try to make sure that he is a factory instead of trading companies who sell you as a middle man. If he agrees, since you are in China, leave aside more time to visiting the factory by yourself, which will save you a lot of trouble in the future.
How to ship your products?
Now that you have decided to work with one of them, you can just leave the shipment of the products to us without hesitation. There are three ways of shipment you can use for the shipment from China. Contact with us if you are interested with any type of the shipment.
Rail Freight from Yiwu
The first trip of the Yin Xin Europe train arrived in Yiwu on Feb 22, 2015. The special target of this railway is to ensure that the carrying of Yiwu small commodities to Europe can take place effectively and achieve the goal of expanding the market share. It’s also the actual needs of the transformation and upgrading of the Yiwu market. The total cost will be reduced gradually, and in the past few years, we have witnessed the benefits of railway freight.
Sea Freight from Yiwu
Our biggest advantage of sea freight is that we offer Door Door delivery, what does it actually mean? You don’t have to deal with every detail by yourself, which will save you a lot of time and energy. Time is money, right? All you need to find is a professional agent like us to deal with all these troublesome matters for you. Docshipper offers you a professional team for customized door-to-door service.
Air Freight from Yiwu
There is Yiwu Airport in China, actually, if you choose air transport, it would only spends 7 days. However, based on our experience working with many customers, it costs 3-5 days for the T/T(transit time), it takes far less than what sea freight needs. But bear in mind that, this is only for transit time, you need more time to prepare documents and procedures. But don’t worry, we have our staff following the whole process for you. From packing to customs clearance, as long as you need, we will offer you the best service.
How can i help you?
Most of the suppliers don’t speak English, if you are going to there offline, remember to take a translator for better negotiation. And they don’t arrange shipment as well. we can help you with the language barrier, since we have staff of Chinese/French/English native speakers; we can help you with sourcing side, based on our previous experiences, we know which supplier in the specified area will be the most suitable one for you; and we have our professional shipping department, offering you door-to-door delivery and get all the documents problems done.