what's up sourcing warriors if you have never been to YiWu market I bet you
have heard about YiWu market but how much do you know about YiWU market so in
this video I'm gonna share with you the five Truth about YiWu market you must
know so you are prepared before you shop or go to YiWu market
hi if we just met my name's Yuping Wang I'm here to share with you the best sourcing and
money-making tips I hope you enjoy it so the truth number one about YiWu market
is that it is a WHOLESALE and that it is a Market by definition when you are in the
wholesale market to the shop owners expect you to buy the product AS IS
and they expect you to buy in bulk so if you're an importer you have a retail
shop and you can put the product online sell it as is that's a perfect place to go
you can go to YiWu feel touch and negotiate and talk to the owners
directly and buy the product turn around mark it up and sell it in your own shop but
if your amazon private seller what you're gonna do you're gonna have to go
extra extra miles to find the factories who is willing to work with
you to improve your product design packaging everything you need to improve
to make it your private product so keep that in mind
it's a wholesale market you are expected to buy the product AS IS in bulk the
truth number two about YiWu market is SHOPS you notice that I say shops I
didn't say direct factories or suppliers because out of a thousands of
thousands of shops out of YiWu market only 20 or 30 percent of shop owners are
actually factory owners and the other 70 or 80 percent of shops are resellers and
trading companies that's why when you go to YiWu market you will see a lot of
the same items are sold in different shops because all of these items are
probably from the same factory keep that keep that in mind when you are going to
YiWul you would need to keep it mine really keep that in mind most
of them are talking to you as a reseller or trading company
the truth number three about the YiWu market is the markup is very deep
you need to negotiate hard I'm just teasing you exactly the opposite YiWu
market is a wholesale market the margin is not that deep
this is not like you're going to a knock off market and they asked for 300
Chinese money you offered a hundred ten you go back upwards back and forth back
and forth and then you settle at hundred seventy five no at the YiWu market its
margin is not that much it's a wholesale market and the market itself already
forced the transparency because there are so many shops carrying the same item
so be careful when you are negotiating with the shop owners if you cut the
prices so low they may give you a dirty look they don't you I wanted to talk to
you the forth one it's the low low low MOQ this time I'm not kidding yes
you YiWu market you could possibly negotiate a very low MOQ because so
many shops are carrying the same item and the same item could be from the same
Factory it's mass-produced it is a commodity product so if your first order
only need to order 100 or 200 even if they ask for 500 moq you could negotiate
the truth number 5 about the YiWu market is it is a permanent made in China showroom
let's talk about the permanent part the permanent means that the YiWu market
opens all year long except the Chinese New Year that means you can pick a low
season pick a very cheap flight and go to YiWu and go for a visit and then the
made in China part is to remind you that just because it's showing in YiWu market
it's not it doesn't mean that is made in yiWu or even in the surrounding areas if
you're buying electronic products for example that's mostly likely made in
Guangdong or Shenzhen area and the shops carrying those items are most likely
trading companies there you have it the famous
YiWu market the made in China permanent the showroom lots of shops
lots of trading companies as I mentioned so I'm gonna make a video to show you
how to find the suppliers from the YiWu market and how to make the best out of
your YiWu trip so stay tuned if you love this channel please don't forget to
subscribe and support this channel I appreciate that
I'll see you soon