Imagine a city of 1 million chinese who decide to together create the largest wholesale market in the world. Welcome to Yiwu, China:
Many are impressed with Shanghai's skyscrapers. However, that city is for foreign bankers, hungry for a cut of all the business action. But just south of Shanghai is Zhejiang province, the home of Yiwu, Chinese entrepreneurship and the most cutthroat competition in the world. ...
Yiwu is the place to come if you need 20,000 electric razors for HK$26.74 apiece, 30,000 clocks at HK$4 each or maybe 50,000 blow-up Santa Clauses.
Walk the corridors of its market - all 28 million square feet of it - and choose from flashlights in any color for less than a dollar, telephone handsets, toys or anything else - as long as you buy in bulk. There are 50,000 shops to choose from, patronized - according to city bosses at least - by traders from 200 countries.
Yiwu, home to a million people, is bargain shop to the world. "Construct the World's Biggest Market," as the red banner over its entrance puts it. "Build an International Shopping Heaven." ...
The World Bank has just proclaimed it the biggest "small commodities" market on earth.
We applaud this endeavor, it must be an amazing sight to see. Walmart gets socks from Yiwu:
Yiwu shipped a jaw-dropping 3 billion pairs for Wal-Mart, Pringle and Disney in 2004 alone, leading to a British Broadcasting Corp story that referred to the city as "sock town". But the town's website lists a variety of "dominant industries" including zippers, toys and small hardware items.
From the Yiwu website, we've also included Yiwu written in Chinese. Perhaps a future brand?
Indeed Yiwu is the largest wholesale market in the world now. It takes over 104 days to visit all the wholesale stalls with only 1 minute stay at each stall. International buyers find it difficult to navigate around the wholesale market, let alone the barriers of language and different business cultures. So most would choose to hire a sourcing agency to help them buy products in Yiwu markets. YaChina is one of the very best purchasing agent in Yiwu, and the very few that dont take kickbacks from sellers..
To learn more, just check out www.yachina.com
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