How to puchese from Yiwu market?
Why I compose this?
Yiwu market is the world largest wholesale market for small products. Cheap rate made it popular. Crap quality made it well-known in the past.
How to buy from this “huge” Yiwu market is a difficulty for a number of its visitors.
Here is one example: Lee from Germany, who plans and represents a big business to source some products from Yiwu. Before she came, she thought that Yiwu market is something like a reasonable or trade exhibition. She can quickly import directly by speaking to the sellers there.
She was significantly disappointed to discovered that 95% of individuals in the market are not prepared to export directly. They don’t have export licenses, don’t know anything about FOB price, and most of them even don’t speak English!
How does Yiwu market work?
Factories (or sheer representatives) have their shops/showrooms established inside the market. They sell the products they produce/ represent.
Normally 2 individuals are working inside the stores. One is “employer”, the other is “assistant”. The “manager” is the factory owner’s spouse, child, or close loved ones, someone the factory owner can completely trust. The “assistant” is normally a lady they utilized, who can speak some English and know how to utilize a computer.
” Boss” normally do not speak any English and knows little about foreign trade. To keep the general expense down, the “shop assistant” is normally high school graduates or college graduates.
The shops here simply put whatever available within, and sell. To export straight to overseas buyers is not something they’re pleased to do, or able to do.
How to buy from Yiwu market?
You have to use an agent to assist you with all the sourcing activities. They can organize your visit, accompany you to the market to search, then collect orders, do examination, and lastly ship out your products.
As somebody “within” this market, I know fairly sufficient that for all representatives, 1% commission is even insufficient to endure. If you find somebody did “kept their promises” and used you a 1% commission. They must have some “smart” methods to earn money.
* The good things about using an agent:
Obvious enough, an agent can make things much easier for you. Sourcing from Yiwu without an agent is almost a “Mission Impossible”. You have no warehouse to collect your orders, no title to ship your containers, and nobody do evaluation.
Since they have connections with suppliers, and representatives can also help you get less expensive prices in some cases. Since representatives help them sell, they buy a lot from suppliers and suppliers are likewise prepared to provide a discount.
* The bad things about using an agent:
This only comes when you stay with a “bad” agent. You might find that practically every agent’s website promises MIRACLES. The truth is quite various. Most agents are inexperienced, incapable, have no connections, have no warehouses, tell lies, make mistakes, produce extra expenses, lose time, and choose slow cheap container lines … Visit Yiwu Market by yourself First, Then Go With An Agent to Verify Information.
Personally, I would recommend each purchaser come to Yiwu for a visit to see things by themselves. Go with an agent to confirm order information.
Buyers understand their market far much better than their agents. They can pick the best products at the best rate. There can be lots of mis-communications and time waste if they remain with an agent.
Buyers can also find brand-new chances. Representatives simply don’t have the purchaser’s eyes. And I do not believe representatives can show all the chances of this huge market, simply by e-mails, phones talks and live chat.
Buyers can understand the fact at some extent. They can excess to details like rate (without going with any representatives to translate).
Third, details online or you receive from elsewhere typically turn to be junks. You invest great deals of time and energy, however with no positive lead to completion.