To become a successful retailer it takes more than buying at low price and selling high. Identifying the market where to sell, place from where to buy and which product to deal are some of the important notes to keep in mind. If you’re just starting out in e-commerce and aren’t sure what you want to sell yet, check out this list of the most profitable online niches to get an idea of potential markets to enter.
However, time and time again, many entrepreneurs find themselves hitting a brick wall and losing momentum when it comes time to actually source products. Whether it be manufacturing your own product or finding suppliers to purchase wholesale from, they aren’t always easy to find.
It is a proven fact that the wholesale suppliers in China play a pivotal part in bridging the communication between The US and European business owners that are looking to penetrate the Chinese market and making the most of their business.
Finding the Right Wholesale Source-
No matter the product, a key to successful retailing is in picking the finest source for buying the goods and items at a low cost with minimal headaches. This step takes a comprehensive deal of market knowledge and research, with thousands of distributors and warehouse operations competing for business.
Yiwu is the best place for finding suppliers-
Wholesalers can be found all over China. However, if you are looking for one geared towards export markets, there is only one place to go – Yiwu. Here we are highlighting some of the interesting facts about Yiwu trade market
- Yiwu international Trade Market is the largest wholesale market in the world. Its length is 7 km. Here you will find a wide array of products among them hardware and jewelry. It attracts more than 500,000 foreign procurers who come here every year to develop their business. Yiwu also has over 14,000 foreign businessmen from more than 100 different countries who reside here.
- The Yiwu market has over 70,000 booths. Each booth focuses on a certain product, making the market more like a huge trade fair rather than a retail shopping mall. Most booths are owned by individual business, some others owned by trading companies, and they got lots factories supply them in long term. If you do not want to buy large quantities, in some cases you may get better price from them than buying from factory.
- Unlike other fairs, though, the Yiwu market is open all-year round except during the Spring Festival. Foreign companies can find a host of reliable wholesale suppliers in China.
- This vibrant market has evolved as an international commodity distribution center and many individuals and merchants come across the world to buy commodities here. It has certainly emerged as an important base for foreign merchants to purchase commodity.
If you are thinking about having successful business tour along with experiencing the culture of the place, Yiwu market is the perfect place that you must include in your journey. You can either apply for a business visa or tourist visa at your local Chinese embassy or consulate. It’s very easy to obtain a visa, but requires that you plan ahead.