YIWU, China, Oct. 1, 2022
/PRNewswire/ -- Yiwu is the world's capital of commodities,
Yiwugo.com is the official website of the Yiwu Commodity Market,
which is the largest commodity wholesale market in the world.
Yiwugo hosts 50,000 merchants and 10 million registered buyers, 10%
of whom are overseas buyers. It has 800,000 daily average visits
and a daily average PV of 15 million. According to the latest
statistics from Yiwugo and the feedback from merchants, the number
of European buyers purchasing hot-water bags has grown
significantly, with the regular water injection type is the
mainly-purchased product.
Sales doubled from the previous year at the beginning of the
peak season.
Jingyang Daily Necessities is an established international trade
enterprise with a history of more than 30 years. 12 years ago,
Chen Jianping took the business over
from her parents. For enterprises in Yiwugo, there are usually two
peak seasons every year. The first begins from July and lasts till
October as boosted by buyers from the northern hemisphere, and the
second from the end of the year till next spring, as boosted by
buyers from South America. This
year is unusual. Although the first peak season has just been
halfway through, enterprises' sales volume has already doubled from
last year.
Chen explained that, due to the impact of repeated Covid-19
outbreaks at home and abroad, most orders were placed by long-time
buyers instead of new ones in the past two years. This year,
however, the number of new customers, particularly end customers,
has suddenly surged. Most of them are from Europe, looking for water injection hot-water
bags. As electric heating hot-water bags were previously popular
exports to countries such as India, it is unusual to see water injection
type gaining popularity in Europe.
In fact, this is closely attributed to the rising energy price
in Europe. The natural gas price
in Europe has reportedly reached
more than 10 times that of the same period last year; the
anthracite price has been three times that of the same period last
year; the electricity price has increased by 12 folds from the
previous year. The German government announced that it would levy a
"natural gas surcharge" from October, and Italy has shortened the heating period by 15
days for this winter.
The surging energy price this year has driven up the heating
cost, especially for European people living in frigid high-latitude
regions. As such, the traditional affordable water injection
hot-water bags have suddenly become their favourite choice. Even
though European people have also started to use water injection
hot-water bags, they have never lost their aesthetic sense and
pride. According to Chen, European consumers favour fashionable,
high-quality hot-water bags with high rubber content and European
architectural style of decorative imprints.
The popularity of hot-water bags in Italy and other European countries aroused
Chen's curiosity. She later figured that a significant number of
buyers had come around by searching the English site of Yiwugo.
Although many orders placed were small or medium ones, they were
still "fresh blood", and all the buyers were overseas wholesalers.
This encouraged Chen and made her confident about her decision last
year to launch new products continuously and establish an
international site on Yiwugo.
Some of the new customers were referred to Chen by merchants of
home textiles, quilts and other warm-keeping products in Yiwu
market. There are also merchants in other lines of business who are
entrusted by customers to make purchases, or those who recommend
Jingyang Daily Necessities to buyers after they found the company
on Yiwugo. The buyers will then have intermediaries such as
international trade companies to make purchases directly from
Jingyang.
Chen explained that there had been signs of this purchase frenzy
since the first half of the year. From April to May, some
well-established buyers, including those from European countries
such as Italy, already stocked a
large quantity of water injection hot-water bags. But this was not
common practice at the time, so it did not attract much attention
of merchants.
Domestic-oriented enterprises generated more export sales
than domestic sales this year.
Yu Fengchao, owner of Yiwu Junma Hot Water Bottle Factory, is
running an established international trade factory of water
injection hot-water bags. The factory was established over 30 years
ago, receiving orders mainly from Spain.
As a second-generation business executive, Yu took the business
over exactly ten years ago. To date, his factory has been a member
store on Yiwugo for five years. A Spanish new customer contacted Yu
on Yiwugo this July. After they communicated with each other for a
while, the customer, without meeting Yu in person, placed an order
of more than RMB 100,000 for
high-quality hot-water bags, mostly in the shape of cartoon
characters and covered with insulating cloth.
Yu explained that the water injection hot-water bag, which is a
home-grown product, used to be sold domestically. Since July,
however, many new buyers have emerged from European countries such
as Spain and Italy. Driven by the recent trend towards
original design, new models are launched in the second half of each
year. In this peak season, export sales have surpassed domestic
sales.
It is mutual trust that has led an overseas new customer to
place his very first order for more than RMB
100,000. Besides faithful communication between the two
sides, Yiwugo, a third-party platform, has also played a vital role
as a guarantor for them to build trust. As enterprises divert more
resources into Yiwugo in recent years, the platform has also
yielded better results for them, thus forming a virtuous circle of
win-win cooperation.
2022 marks the 40th
anniversary of Yiwu market, as well as the 10th
anniversary of Yiwugo as the largest e-commerce platform in
China. As the market enters the
second generation in the past decade, more and more young merchants
are choosing Yiwugo as their partner. Likewise, Yiwugo will join
hands with them to embrace a brighter future.
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SOURCE Yiwugo; Yiwubuy.com