Yiwu Wholesale Market -The Complete Guide

Yiwu Wholesale Market

YiWu wholesale market provides unlimited opportunities for anyone planning to buy products in China at wholesale prices.

You can also call it as the YiWu International Trade City where traders from all over the world converge to shop.

It is the biggest wholesale market that sells almost every product that you would want to have.

Let us dive deeper and find out more about YiWu wholesale market.

 YiWu International Trade City

 YiWu International Trade City

Location of YiWu Wholesale Market

YiWu wholesale market is located in Yiwu, Zhejiang, China.

It is quite big in size covering about 5 districts with 75,000 booths spanning over 4 million meters square.

 YiWu Wholesale Market

YiWu Wholesale Market

How to Get to YiWu Wholesale Market

You can get to YiWu by using different modes of transport depending on where you are coming from.

International visitors can access YiWu through the International Airports and Sea Port in China.

You can land in any city in China and then access YiWu wholesale market through the following avenues.

Accessing YiWu Wholesale Market from Shanghai

In case you land in Shanghai, you can access YiWu Wholesale Market through different modes of transport.

You can opt for train transport which will take you about 2 hours and 16 minutes to arrive.

Apart from that, you can access it via road where buses become the most economical means to reach YiWu.

The buses will take more than 4 hours on the road to reach YiWu from Shanghai.

In case you rent a car or book a taxi you will be there in about 2 hours and 55 mins.

Accessing YiWu Wholesale Market from Guangzhou

Due to the long stretch, you might opt to fly from Guangzhou all the way to YiWu wholesale market.

You will spend between 100 and 200 dollars on a domestic flight taking 4 hours and 40 minutes to arrive.

With a train, you will spend less but stay on the rail for about 21 hours and 48 minutes.

The bus is faster than the train and will take 13 hours and 30 minutes.

A taxi or a self-driven private vehicle takes 11 hours and 53 minutes.

Accessing YiWu from Shenzhen

You can take a flight taking 4 hours and 39 minutes to travel to YiWu from Shenzhen.

It will cost you between 100 to 185 US dollars depending on the type of flight you take.

The bus will take around 21 hours while the train will take between 8 hours and 10 minutes.

In case you opt to drive personally to YiWu, you will take 11 hours and 58 minutes on the road.

Accessing YiWu from Beijing

A flight from Beijing to YiWu takes 4 hours and 33 minutes even though it is costly.

You can also opt for a train ride to save cost that will take 6 hours and 46 minutes to arrive in YiWu.

A drive to YiWu will take 14 hours and 11 minutes to arrive.

Accessing YiWu Wholesale Market from Ningbo

Since Ningbo is pretty close to Yiwu, you should save cost by taking a train that takes 1 hour and 42 minutes.

It is also very cheap as you will pay between 20 and 35 dollars.

You can also pay 9 dollars on a bus that will take you 4 hours to reach Yiwu.

If you hire a car, you can drive it to YiWu in 1 hour and 57 minutes.

Where to Stay in YiWu International Trade City.

Yiwu International Trade City has some of the best infrastructures all over the world.

You can depend on the YiWu hotel and motels to get the best form of accommodation while you are shopping.

The cost of putting up or staying in YiWu International City will vary depending on the type of accommodation services.

There are high reputation hotels that will force you to dig deeper into your pockets while others are very affordable.

Comparison between YiWu Wholesale Market and Guangzhou Wholesale Market

Well, you can get different types of products from both Guangzhou and YiWu wholesale markets.

YiWu wholesale market is located in YiWu while Guangzhou wholesale market is in Guangzhou city in China.

YiWu wholesale market is best for purchasing different products on a wholesale price.

Guangzhou also has different products at wholesale prices but with clusters of manufacturing industries.

Guangzhou can also boast of having the Canton fair which is not available at the YiWu wholesale market.

History of YiWu Whole Sale Market

Since the 1949 communist rule in YiWu, there was a ban on the individual sale of things for profit.

This led to the sole good to good exchange between the people which you can identify as batter trade.

In 1982, the administration in YiWu decided to allow the private sale of products with very few hundred stoles and sheds.

After that, the YiWu market grew in size and became the largest wholesale market in the entire world.

Benefits of Buying from YiWu Wholesale Market

YiWu has quite a number of benefits that should attract you to purchase your products.

Here are the main benefits that should attract you to purchase from YiWu.

· Versatility of Products

You can purchase different products from YiWu wholesale market.

Implying that there are plenty of products of different varieties at the YiWu Wholesale Market to choose from.

· Short Lead Time

You will get your products within a very short period due to the availability of products in plenty.

All the products are also ready to package and load on different means of transport for shipping to different destinations.

· Presence of Proper Assistants

You can also shop comfortably in YiWu wholesale market with the help of agents who will assist you in the shopping escapade.

They will assist in getting the products that you want at the most affordable prices.

Some of them will also help in translation as most traders speak the local Chinese language.

Limitations of Buying from YiWu Wholesale Market

Well, there are particular cons that you will experience when you are shopping at YiWu Wholesale Market.

Here are some of the limitations that might hider a pleasant shopping experience.

· Language Barrier

Most of the Chinese traders at YiWu wholesale market do not speak other languages such as English.

You might have a difficult time trying to communicate with them unless you hire a translator which might be expensive.

· Non-Regulation of Prices

The prices of different products are not under proper regulations and that will force you to negotiate for a good price.

You might have to consult different suppliers to get an average price on a particular product thus wasting time.

· Limited Currency

You might also experience problems with the payment as some of the currencies are not acceptable at the market.

You should try and visit a bank in YiWu to get the right currency for trading at the YiWu wholesale market.

Layout of YiWu International Trade Market

YiWu International Trade City has 5 districts that sell different products.

You should know the district where the products you intend to purchase are before visiting YiWu wholesale market.

Here are the main districts and the products that you can purchase from them.

YiWu International Trade City District 1

YiWu District 1

 YiWu District 1

At the YiWu international trade city district one, you will find a building with four floors.

The first floor has artificial flowers, toys, and other flower accessories.

The second floor has hair ornaments, jewelry, and other beautiful ornaments.

The third floor has frames, ornament accessories, crystal, and ceramic materials, festivals, decorative, and tourism craft.

The fourth floor has the Taiwan mall with ornaments, crafts, and flowers, and factory outlets such as toys and other accessories.

YiWu International Trade City District 2

At district 2 of the YiWu International Trade City, you will find five floors selling different types of products.

On the first floor, you will find the rainwear, umbrellas, bags, and suitcases.

On the second floor, you will find the hardware tools, electrical tools, vehicles and locks.

The third floor boasts of home appliances such as kitchen ware, electronic appliances and clocks and watches among other things.

The fourth floor has electronics and hardware materials.

The fifth floor has the export agencies and other featured products for export.

YiWu District 2

 YiWu District 2

YiWu International Trade City District 3

District three also has 5 floors with different products on every floor of the building.

The first floor will boast of stationery such as pens and pencils, ink, eyeglasses, wall calendars, and couplets.

The second floor has entertainment and leisure products, sportswear, and office materials.

The third floor has combs and mirrors, zippers and buttons, cosmetic products, and clothing apparel.

The fourth floor serves as factory outlets for beauty and cosmetic products, garments, and other sportswear accessories.

The fifth floor has all the paintings and frames that you can lay your hands on.

YiWu District 5

YiWu District 3

YiWu International Trade City District 4

The fourth district has four floors where the first floor has socks and leggings.

The second floor has gloves, hats, caps, knitted goods, earmuffs and other daily necessities.

On the third floor, you will find shoes, towels, caddice, threads and tapes, ties and laces among others.

The fourth floor has shops selling underwear, bras, and belts among other things.

The fifth floor has garments, shoes, daily necessities, frame accessories and a tourism center.

YiWu district 4 YiWu District 4

YiWu International Trade City District 5

District 5 has 5 floors with African products, crafts and ornaments, daily consumables, garments, and health products.

The second floor has Chinese knots, beddings, while on the third floor we have curtains, knitted clothes and fabrics.

The fourth floor has motorcycle and car accessories, while the fifth floor has virtual shops and online services.

YiWu District 5

 YiWu District 5

List of YiWu Wholesale Market Products – Know What to Buy from YiWu

You can purchase quite a lot of products from YiWu wholesale market.

You should, however, have proper knowledge of the products to buy and where to buy them from.

Here are some of the products that you can purchase from YiWu Wholesale Market.

  • Fashion Accessories and Beauty Products
  • School & Office Appliances (Such as stationary, books and files among others)
  • Party, Festival & Wedding Accessories
  • Homeware & Decoration Accessories (To decorate and beautify your house)
  • Imported Products (from other producing countries)
  • Baby Products such as clothes, toys and ither important accessories.
  • Consumer Electronics such as kitchen, communication and entertainment appliances
  • Hardware & Construction Tools
  • Jewelry, Beauty & Bag Parts
  • Apparel and Shoes for both men, women and children
  • Health Products such as pharmaceutical products
  • Hotel & Restaurant Appliances such as plate, cutleries and dining appliances
  • Automotive & Motorcycle Parts and Accessories
  • Packing Materials
  • Sport products such as sport and training wear
  • Outdoor accessories such as shoes and clothes
  • Pet Supplies
  • Toys, Novelty and fun materials
  • Machinery equipment

YiWu Wholesale Market Opening Hours

Well, YiWu Wholesale market is open throughout the year at different times depending on the District.

Generally, most districts in YiWu Wholesale Markets open from 8: 30 in the morning to 18:00 in the evening.

Here is a table that gives you the opening and closing hours of different market districts in Yiwu.

 YiWu Wholesale Market Operating Hours

YiWu Wholesale Market Operating Hours

Best Time to Visit YiWu Wholesale Market

Well, you can visit YiWu Wholesale market at anytime of the year including weekends.

Implying that YiWu Market is always open for you to go and shop for the products that you want.

There are, however, particular periods when you should consider visiting YiWu market.

One of the best periods to visit YiWu market is during the trade fairs because the prices are often standardized.

Apart from that, the weather as well as the Chinese holiday can also influence the best visiting time.

You should avoid shopping at the YiWu wholesale market during Chinese holidays as most shops are closed.

In terms of weather factors, you should visit the market during March to June and September to December.

MOQ in YiWu International Trade City

The minimum order quantity of products that you can order from YiWu wholesale market is not definite.

Since there are different suppliers, you should expect to have varying minimum order quantities.

This makes it quite difficult to establish a proper minimum order quantity for the traders at YiWu wholesale market.

How to Buy from YiWu Wholesale Market

YiWu wholesale market is a very big market with 75,000 booths that you cannot cover in a short shopping period.

You can shop from YiWu by going through a particular procedure that will guide you on getting the best products.

Here is a step by step procedure that you can follow when shopping from YiWu Wholesale Market.

Step One: Know the Country

First, you should have proper knowledge about the country and culture of the people in China or YiWu.

You should learn the basics on their language, the food they eat, their holidays, and mode of communication.

With that at hand, you should look for the best and most affordable means of reaching YiWu wholesale market.

Have a proper plan on where you are going to sleep and possibly have a guide to help you move around.

Step Two: Prepare Money and Time

You should have a proper budget and estimate to spend about two weeks of your time at the YiWu wholesale market.

Due to its size, you will need enough time to visit a considerable amount of shops in the market.

You must also have the money in an acceptable currency that most of the trader’s use.

It is safe to carry the Chinese Yuan to help you handle the transactions in a better way.

Step Three: Hire Reliable Agent

You should also hire an agent that you can rely on to show you the most important things that you need.

Tour agent should help in the sourcing of the products and negotiate a proper price for the products you need.

Apart from that, your agent must help in proper translation and communication between the you and the traders.

Some of the agent are dubious as they will speak a language you don’t speak.

You should know that agents charge between three and ten percent of the total value of goods you purchase.

Step Four: Pick Right Products

While at the market, you should go for the products of high quality that you intend to purchase.

You can use the help of your agent to identify the right products that you need within the shortest period.

You should also think of purchasing the products in bulk and visit different booths to get the most appealing products.

Step Five: Organize Foreign Trade

You should consider organizing foreign trade on a personal basis by providing all the details in absolute truth.

Do not miss any of the gaps in the documents that you intend to fill.

Step Six: Take Your Time

You should also take your time and enjoy the shopping experience by exploring the culture and food of the Chinese.

Take some time off the shopping expedition and visit different Chinese expedition sites.

Step Seven: Organize for Transport

Finally, before you leave, you must organize your products well and transport in the most efficient and cheapest mode of transport.

Other Wholesale Markets in China Apart from YiWu

Well, there are quite a number of wholesale markets in China where you can go and purchase different products.

The other wholesale markets in China are in different cities of the republic but YiWu is the largest.

Here is a list of the other wholesale markets that are in China.

  • Guangzhou Baima Costume Wholesale Markets
  • Shijing Clothes Wholesale Market
  • Zhanxi Clothing Wholesale Market
  • Haizhu Wholesale Market
  • Zhongda Wholesale Market
  • Shenzhen Wholesale Market
  • Hong Kong Wholesale Markets

These are the largest markets in China that sell different types of products.

You should also note that the above markets also have other smaller markets within the cities.

Finding Right Supplier in YiWu Wholesale Market

You should have proper information on the suppliers in the Chinese Market to find the best supplier.

Due to the numerous numbers of suppliers in YiWu wholesale market, you should take your time to make a choice.

You should also look at the prices that different suppliers provide when looking for a good supplier.

Alongside the price, you must also consider the type or quality of the products every supplier is providing.

In that case, you should settle for a supplier who gives the best quality of goods at the most affordable prices.

With the help of the agents that you hire, you should be able to identify a good supplier within a short period.

They can do a feasibility study on the market and identify a good supplier as you do your survey online.

How to Communicate with Suppliers in YiWu International Trade City.

Communicating is one of the biggest limitations to the people who are visiting YiWu market in person.

This is because most of the suppliers do not understand foreign langu8uages such as English.

In this case, you can learn the local language that the Chinese suppliers will understand.

Apart from that, you can hire a translator through proper referral channels to help in the communication process.

In addition to that, you can have your agent do the communication for you thus eliminating the need of a translator.

Benefits of Working with YiWu Sourcing Agent

Chinese sourcing agents have the best information that you might need about the Chinese market.

They will help you perform a number of activities within a short time on a limited budget.

Here are the main benefits that you can experience by working with the YiWu sourcing agents.

· Sourcing of an Agent

You will have a very easy time getting a good agent through the YiWu sourcing agents.

They will allocate a trusted agent to you at a very affordable price in comparison to hiring a private agent.

· Provides General Services

The YiWu sourcing agents will also provide you with all the services that you want from the YiWu wholesale market.

You don’t have to waste your time and money going through all the necessities of shopping at YiWu wholesale market.

· Supplier Sourcing

The YiWu agents will also help you to source for a very good supplier who is able to meet you shopping demands.

The supplier will give you the price in the market and also meet your bulk quantity requirements.

· Sample Arrangements

YiWu agents will also arrange with the supplier to send a sample of the goods that you need to your address.

You will be able to check the quality of the goods you intend to purchase through the samples that you will receive.

· Shipping Arrangements

You will not have to worry about the transport of your cargo from YiWu wholesale market to your destination.

YiWu wholesale agents will ensure that you receive the cargo that you purchase from the suppliers.

· Inspection of Quality

The agents will also look at the products and inspect the quality against your requirement specifications.

They will approve the products to be of high quality before allowing you to receive them a6 your destination.

· Free Warehousing Services

You can also rest easy that your products are safe in the warehouse of the YiWu agents.

They will provide free warehousing services to your products for a particular period of time.

Cost of Hiring China Sourcing Agent in YiWu Wholesale Market

Hiring a sourcing agent requires a keen eye to choose a good one who will help you shop well.

The sourcing agent will assist you in most of the purchasing activities at the YiWu wholesale market.

At the end of the whole experience you will have to pay a fee for the services of the agent.

In most cases, the agent will charge between 3% and 10% of your total good purchases.

How to Source for Products in YiWu Wholesale Market

You can source your products through proper searches for a good supplier who will offer you the best prices.

In that case, there are certain factors that you should consider looking at such as dealing with product suppliers.

Implying that you have to prepare well for the with the following when sourcing for products at the YiWu wholesale market.

 Jewelry in YiWu Market

Jewelry in YiWu Market

Find a Good YiWu Wholesale Market Supplier

You must have proper knowledge of the following things when you are looking for a good YiWu wholesale market supplier.

First, you must understand that there are numerous options available because of the numerous presence of suppliers.

You must not hesitate to do a proper survey of the market by exploring different product suppliers.

On the same note, you should look at the quality of the products the suppliers offer and the prices.

Secondly, you must understand that the prices of the products also vary from one supplier to the other.

You should think of negotiating in order to strike a good price deal that will profit your business.

Use Your Agents

You can also use your YiWu wholesale market agents to help you with the sourcing of the products that you need.

Your agents have knowledge of the market and will identify the location of the product you need faster.

This will save you a lot of time but you must be very careful and explore other avenues before settling for one supplier.

Do an Online Survey

You must also perform an online survey of the YiWu wholesale market and get in touch with the suppliers early enough.

This will grant you the perfect opportunity for proper comparison before you actually visit the market to negotiate your deals.

Why you need Freight Forwarder when Buying from YiWu Wholesale Market

You will need a freight forwarder when buying from YiWu wholesale market to organize for transport services.

A good freight forwarder will ensure that you get your goods to the right destination from YiWu wholesale market.

As soon as you get in touch with a freight forwarder, you will agree on the logistics of transporting your cargo.

He will organize on proper packaging of the cargo to avoid breaking them in any way.

After that, the freight forwarding company will deal with storage of the materials as they await transportation to your destination.

In addition to that, the freight forwarder will have agents who will ensure safe loading of the cargo on the shipping vessel.

Along the shopping route, the freight forwarder will give you proper information about the status of your cargo.

They perform tracking of the cargo and give you updates on every step until the cargo reaches your destination.

How Sourcing Agent Compares to YiWu Market Agent

Well, the sourcing agents in different parts of China perform the same activities as the YiWu market agents.

Despite the similarity in the duties that they perform, there is a difference in terms of experience.

YiWu wholesale market agents have more experience in sourcing for different products within YiWu wholesale market.

They have the information about different suppliers and products available at YiWu wholesale market.

On the other hand, sourcing agents outside YiWu wholesale market may not have that kind of information and experience.

In many cases, the sourcing agents outside YiWu wholesale market work in collaboration with the YiWu wholesale market agents.

Buying from YiWu Wholesale Market Online

Well, there are quite a number of sites which will allow you to purchase products from YiWu wholesale market.

At the comfort of your home, you can log into your computer and visit Yiwugo.com.

Yiwugo

 Yiwugo

Yiwugo.com is the official website where all the products in YiWu are available for you to choose from.

These sites help in searching for the best products at the YiWu wholesale market.

While shopping online, you will only have to select the product and pay for all the relevant fees.

Implying that you don’t have to source for an agent as that will be the responsibility of the online distributors.

Apart from that, you don’t have to worry about unscrupulous traders as the sites guarantee you safety.

They have a money back policy in case the products you purchase fail to reach the quality standards you request for.

After paying for the products and the cost of shipping, you will provide your address and wait for the products to arrive.

How Yiwugo.com compares to Alibaba.com and AliExpress.com

Well, on the online shopping platform, there are three big players who help in sourcing for the goods.

In this case, we have the Yiwugo.com. Alibaba.com and AliExpress.com.

· Yiwugo.Com

 Yiwugo

Yiwugo

It is the official website for the YiWu wholesale market with all the products from the market.

At Yiwugo.com, you have the opportunity of meeting different suppliers from YiWu wholesale market.

These suppliers display their products on the site for you to view and then get in touch for a good negotiation.

After that, you can agree on the terms of payment which will be backed up by Yiwugo.com.

· Alibaba.com

Alibaba boasts as one of the biggest shopping platforms that you can purchase your products from.

Just like Yiwugo.com, different suppliers display their products on the website for you to view.

Apart from that, the products also have their price tags on them thus allowing you to make your orders.

Alibaba will then organize for transport of the products from the supplier to your destination.

Alibaba

Alibaba

· AliExpress.com

AliExpress.com is another online shopping website where you can view different products from different suppliers.

It also has the price tags of the product as well as the key details about the product for you to review.

Once you select the product and pay for it, you should expect to have it within a few days of your purchase.

It is the platform that will allow you to purchase and receive your products within a very short period.

It offers express shipping services hence the name AliExpress.com.

 AliExpress

 AliExpress

Getting Best Prices in YiWu International Trade Market

You should always explore all the possibilities and avenues of getting the best prices at the YiWu international trade market.

It is achievable through proper techniques that you can comfortably explore such as:

· Using Reputable Agents

You should use agents that have a very good reputation both with the clients and the suppliers.

These agents will help you find the best suppliers who offer the best products at the most affordable prices.

· Proper Negotiation Skills

You must also negotiate for a good price for the products that you get from the different suppliers.

With the help of your agent, you can negotiate your way through and get the best prices for products.

· Purchase in Bulk

You can also opt to purchase your products in bulk to increase your negotiation power.

Suppliers often reduce the cost of products especially when you purchase the products in bulk.

· Look for Manufacturers Outlets

It is also important to purchase your products from the outlets set up by the main manufacturers of the products.

In that case, you will get the products at the factory prices especially if you intend to purchase in bulk.

· Change Your Suppliers

You should avoid being rigid once you get the opportunity of dealing with a particular agent and supplier.

Flexibility will allow you to meet different agents and suppliers with different prices thus helping in price moderation.

How to Pay Suppliers in YiWu Wholesale Market

While shopping at YiWu wholesale market, you must have your money in the local currency.

At YiWu market, all the traders accept the Yuan which is the official money currency for trading at the market.

Yuan is the official Chinese currency which you can also identify as the RMB.

Apart from the currency, you should think of making your purchase and paying it in full.

There are cases where you can pay a 30% deposit and pay the rest as soon as you collect your cargo.

Such a situation will only happen when you purchase the cargo in bulk adding up to a couple of containers.

Incoterms to Use when Importing from YiWu Wholesale Market

You should be aware of the incoterms that you will use in purchasing products from YiWu wholesale market.

Here are the main types of incoterms that you can use when shopping at the YiWu wholesale market.

Cost Insurance and Freight (CIF) Incoterms

In this case, the seller will ensure that the cargo is safe on board and will pay for the insurance and the freight contract.

The seller will transfer full responsibility to the buyer once the cargo is safe on board the shipment carrier.

The level of coverage the seller insures is usually on the minimal end eve though you can discuss better terms.

Carriage and Insurance Paid (CIP)

Here, the seller will deliver the cargo at a particular location in agreement with the carriers.

He or she will pay for the insurance as well as the cost of transporting the cargo to various destinations.

As soon as the carrier receives the goods all the responsibilities go back to the buyer of the products.

Cost and Freight (CFR)

In this case, the responsibility of the seller ends once the goods are safe on board and freight contract is paid.

He will cease responsibility of the products as soon as the products are on board and transfer responsibility to buyer.

The buyer will pay for the insurance after proper notification within a good window of time.

Carriage Paid To (CPT)

At this point, the seller will deliver the cargo to the carrier and transfer all the responsibilities to the buyer.

The buyer will have to organize for transport as well as the cist of insurance to the destination.

Delivered at Terminal (DAT)

Here, the seller will have to ensure that the goods arrive at the destination terminal before ceasing responsibility.

In this case, the insurance requirements are not clear and the seller must be very careful with these terms.

Delivered at Place (DAP)

Here, the seller will transfer the responsibility to the buyer when the goods arrive at the right destination.

The buyer will then take care of other responsibilities such as offloading and all the taxes and duties at the destination point.

The rules on insurance are not clear so the seller must be very careful with these terms.

Delivery Duty Paid (DDP)

In this case, the seller will bare responsibility for all the transactions until the cargo arrives at the destination.

Insurance rules are not clear as well prompting the supplier to be wary of such shipping terms.

EX Works (EXW)

Here, the seller will cease responsibility for the products as soon as they arrive at the working point.

The goods will be the responsibility of the buyer as soon as it reaches the destination of the work.

The buyer will assume all the other responsibilities until the cargo reaches the point, he or she requires them.

Free Alongside Ship (FAS)

The seller will deliver and pay for the export duties of the goods until it reaches the loading port.

As soon as the goods are clear for export, the buyer will assume all responsibilities such as loading, transport and insurance.

Free Carrier (FCA)

As soon as the goods are in the hands of the carriers and free for export, then responsibility shifts to the buyer.

He will take care of all the other responsibilities until the cargo reaches the destination.

Free on Board (FOB)

At this point the seller will package and deliver the cargo to the destination port.

After clearing the goods for export and loading them on the ship, then the responsibility shifts to the buyer.

Documents you need when Buying from YiWu Wholesale Market

When buying from YiWu wholesale market, there are particular documents that you must have.

Here are the most important documents that you must have in your possession.

Import documents

Figure 14 Import documents

Pro Forma Invoice

This is a document that will show the evidence between the transaction of the buyer and the seller before shipment.

It describes the goods in terms of quantity, weight, price, and kind among other important specifications.

Commercial Invoice

This is a document showing the agreement between the buyer and the exporter which customs use to calculate custom duty.

The government uses the goods to determine the true value of the cargo before charging the relevant customs duties.

Packing List

On the packing list, there are quite a number of details that you will find including

i. Seller, buyer, and shipper of the cargo

ii. Invoice number

iii. Date of shipment

iv. Mode of transporting the cargo and the carrier

v. Quantity and description of the type of package such as a crate, box, carton or drum.

vi. Quantity of packages in terms of the total net and gross weight (in kilograms)

vii. Package dimensions and marks

Transportation Documents

These are the documents that you will need for transportation of the cargo to the country of destination.

These documents include air waybill and the bill of lading documents.

Export Compliance Documents

These are the documents that you will need to clear your cargo for export to different countries or destinations.

Export Licenses

You must also have the export license that allows you to transport the cargo from one point to the next.

How YiWu Trade Fair compare to Canton Fair

YiWu trade fair is a daily affair or occurrence that happens every day of the year.

It is business as usual in the YiWu trade fair and that does not require special occasions and seasons.

On the other hand, the Canton fair, is a seasonal affair which occurs over the autumn and spring seasons.

It started in 1957 and has been taking place over the years in Canton.

It comes with special labels on the prices of different commodities that come at a discount.

In both scenarios, buyers and sellers get the opportunity to meet in a bid to conduct proper businesses.

The only difference is on the timing where Canton fairs comes occasionally while YiWu fairs are on daily.

Apart from that, Canton fairs are often flooded with buyers and sellers from different walks of life.

YiWu fairs usually have the normal traders with buyers coming from different parts of the world.

How much YiWu Warehouse Costs

Well, there are different options that you can choose from when storing your cargo within one of the warehouses in YiWu.

One of the options is to use the YiWu sourcing agents who will offer warehousing services free of charge.

All you have to do is pay the 3 to 10% of the total cargo fee to the agent and the warehousing services will be provided.

Apart from that, you can opt to find a warehouse by yourself and pay the fee the warehouse is charging.

In this case, the cost of warehousing will vary according to the type of warehouse you choose to store your cargo.

In addition to that, the cost of YiWu warehousing will depend on the type and quantity of cargo you intend to store.

How to Verify Quality of Products in YiWu Wholesale Market

It is important to inspect the products that you intend to purchase to ensure that they are of high quality.

One of the ways of determining the quality of a product is by looking at the quality assurance marks on the product.

Different products have different quality assurance marks that indicate the products meet the high-quality standard requirements.

Apart from that, you can also look at the prices of the products and know that a product is of hi9gh quality.

In that case, the higher the cost of the commodity, the higher the quality.

Implying that manufacturers use high-quality products that are expensive thus driving the cost of the products up.

How to Identify Fake and Replica Products in YiWu International Trade City

Well, this might be a little bit challenging if you don’t have a keen eye.

Through observation, it might be tricky to identify fake and replica products at the YiWu wholesale market.

In many cases, these products bare great resemblance to the original product.

You can identify them by looking at specific details such as quality of the materials.

Fake products often use substandard materials thus making them light in weight and of lower quality.

In addition to that, these products are often of lower prices since the cost of manufacturing is also very low.

You might also find a lot of errors on the products such as the spelling errors.

This will give you a hint that the products are fake and do not meet the right quality levels of the original products.

Ways of Solving Disputes in YiWu Wholesale Market

You can solve problems within the YiWu wholesale market place by getting in touch with the relevant authorities.

YiWu wholesale market place has a complete administration that is responsible for solving different disputes.

In case you have a problem, it is important to get in touch with the relevant authorities with proper evidence.

Apart from that, you can come to an amicable agreement with the disputing parties with the help of the agents.

The agents will assist you come up with a proper solution between the disputing parties.

Top Wholesale Markets in Yiwu

YiWu wholesale markets have numerous outlets for different products under different markets.

Here are some of the best wholesale markets that you will find in YiWu with different products.

Futian Wholesale Market

Futian market is one of the biggest markets you will find in District 1 of the YiWu wholesale market.

It is the source of different products such as art and craft, belts, shawls and scarfs, and hair accessories among others.

You might know it for the famous home appliances and artificial flowers as well.

It is open on a daily basis as from 8 AM to 5 PM.

It is located on the 4th floor and section A at the District 1 building of the YiWu market.

International Production Materials YiWu Wholesale Market

At this market, you will find all the materials that you need for the production of other materials.

Some of the production materials you can purchase include ceramics, glass, and woodwork among other equipment.

You will also find raw materials for the electronic materials as well as machinery for producing different products.

The market is located along the Chouzhou North Road and is open from 8 AM to 5 PM on a daily basis.

Huangyuan Clothing Wholesale Market

At this market, you can purchase a wide variety of clothing materials and garments.

Its origin is rooted deep in the origins of the entire YiWu wholesale market.

It is located along the Jianbing Bei Road and Huangyuan Road.

It is also open for business as of 8 AM to 5PM on a daily basis.

Digital YiWu Wholesale Market

This is the largest market place in YiWu where you can go and shop for technological materials at affordable prices.

You can also purchase other materials such as cell phones, and LED screens among other key electronic products.

It is located in YiWu along Binwang Road and is open every day from 8 AM to 5 PM in the evening.

Communication YiWu Wholesale Market

At this market, you will have the opportunity of purchasing all the communication equipment that you need.

The communication equipment that you need include networking devices, walkie talkies, radios, cell phones and networking devices among others.

The address of the market is at 215 Binwang Rd, Yiwu and open from 8 AM to 5 PM on a daily basis.

YiWu Specialized Streets

YiWu wholesale market is a very big place that you cannot compare with the size of other cities in the world.

It is the place you will go for all the different types of products you need at the most affordable prices.

To avoid confusion, you must have a proper plan on the places that you intend to visit and the products you want.

Without a proper plan, you might be a victim of confusion and that is not good for business.

You can avoid this confusion by visiting the YiWu specialized streets with special types of products being sold.

These streets are flooded with different vendors who specialize in the sale of the same type of products.

For instance, you can visit a street that is specialized in selling electronic products.

On that street, you will find all the vendors selling different types of electronic products at different prices.

It also allows you to compare the prices as well as the quality of the products you intend to purchase.

YiWu Material Market

This is the place that you can go and get all the raw materials that you need for the production of different materials.

It has huge stocks of things such as raw materials, machine parts among other accessories for the market.

It is located along the Airport Road in YiWu and is open for busines as from 8 AM to 5 PM every day.

Zhejiang Timber Wholesale Market

This is the place where you can purchase different types of building materials such as timber or wood.

You can use the wood for the purpose of flooring among other construction needs for timber.

It is located in YiWu along the Huancheng W road and is open for business as from 8 AM to 5 PM.

How Factory Prices and YiWu Wholesale Market Prices Compare

Well, the factory prices and the YiWu wholesale market prices differ in terms of different features.

Factory prices are the prices that the manufacturer of the product labels against the products they produce.

YiWu wholesale prices are the prices that the seller or wholesaler labels against the product after purchasing from the factory.

In essence, the factory prices are often lower than the YiWu wholesale market prices.

As a buyer, it is important to look for the booths that are owned by the manufacturers as they sell at factory prices.

Apart from that, you should consider purchasing the products in bulk as the wholesaler can give it to you at factory prices.

Mistakes to Avoid when Buying from YiWu Wholesale Market

Shopping directly from the wholesale supplier may seem to a cheaper mode of accessing the products you need.

Well, that might be true but there are certain mistakes you might encounter during the process.

Here are some of the mistakes that you should avoid when shopping at the YiWu wholesale market.

· Making Excessive and Unnecessary Purchases

You should purchase the amount and type of cargo that you need according to the original plan.

You should avoid overindulgence in the shopping spree at the YiWu wholesale market.

· Failure to Negotiate

It is important to negotiate the prices of the products you intend to purchase with your supplier.

Implying that the supplier can always sell the products at a lower price than he or she had previously set.

· Failure to Follow Up

After completing a purchase, you must follow up on the purchase to ensure that you have the right type of goods.

There are situations when the supplier might change the products especially when you are new to the shopping experience.

· Performing all Wholesale Operations

You should avoid going through all the purchase operations and searches all by yourself at the YiWu wholesale market.

You might end up being a victim of unscrupulous business people who might mislead you in the long run.

Tips for Successful Buying from Yiwu Wholesale Market

Battery for sale in YiWu Market

 Battery for sale in YiWu Market

In every market, there are myths and secrets that you should pay close attention to when shopping.

In YiWu, there are particular secrets that you have to pay close attention to for successful shopping experience.

Here are the main tips that you should have at the back of your mind.

· Change Your Suppliers

You should consider changing your suppliers on a regular basis in order to have a taste of product variety.

Apart from that, changing your suppliers will also offer you the best opportunity to see the price ranges.

· Who Owns the Booths

Well, many people often assume that the booths in YiWu are open by the manufacturers of the goods.

The truth, however, is that not all the booths are open by the manufacturers.

You should look for the booths owned by the manufacturers for a better chance of negotiating a good price.

You can also do a proper calculation with the profit margins you gain by changing your suppliers on a regular basis.

· Source for High-Quality Goods

You should know that the market in YiWu is vast with vast suppliers selling different products of different quality grades.

With the help of the agent you should look for high-quality goods retailing at the best prices in the market.

· Difference in Price

It is true that there is a difference in the prices that suppliers label on different products.

You should know that there might be a supplier selling the same product at an affordable price.

· Certificates

You should also be in the habit of asking for certificates on particular products that should have certificates.

It is important to stay in touch with the customs department to know the certificates that you need for the products.

· Stock and MOQ

You must also have knowledge on the amount of stock that you can purchase and alert the supplier in advance.

This will give them enough time to look for a good stock that will satisfy your demands.

You should also know the MOQ of the suppliers and order according to the MOQ requirements.

· Samples and Catalogues

Your supplier should also provide you with the catalog of the goods that they supply and the prices included.

Apart from that, they should provide samples so that you can compare the quality with other products.

· Payment Options

You must have your money in the local currency to enable a proper and easier mode of transaction.

Regular customers and those purchasing in bulk have the chance of paying 30% deposit before collection.

You must pay the full amount of money before you collect the products from your supplier.

In short, you can get high-quality products at affordable prices in YiWu wholesale market.

However, you can only achieve that by following every idea in this guide.

In case you have any questions about YiWu wholesale market, BanSar is here to help – contact us now.

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