Latest news with #Yiwu-based
Yahoo
03-06-2025
- Business
- Yahoo
Global E-commerce Giants Converge in Yiwu to Unlock the New Dividends of Made-in-China
YIWU, China, June 3, 2025 /PRNewswire/ -- Seventeen global e-commerce giants—including Amazon, TikTok, SHEIN, TEMU, RedNote, and Alibaba—gathered in Yiwu, the renowned "World's Supermarket," to launch a major initiative focused on co-creating a dynamic digital trade ecosystem. Held by under the theme "Converging in Yiwu, Shaping the Future," the event brought together over 600 Yiwu-based merchants and global industry leaders, reaching more than 200,000 participants through both online and offline channels. At a time marked by rising trade tensions and fragmented consumer demands, Yiwu is leveraging China's supply chain to provide overseas buyers with new growth engines and offer consumers reliable access to a high-quality and cost-effective life. Global Buyers: Leveraging Yiwu's Supply Chain to Activate Three Key Growth Drivers Influencer Economy Fuels Viral Product Breakthroughs"One TikTok video boosted my pet supplies orders by 200%," shared a Yiwu merchant during the forum. By tapping into the traffic ecosystems of platforms like TikTok and RedNote's , overseas buyers can rapidly scale viral products. TikTok's Southeast Asia "direct shipping without warehousing" model allows merchants to test products with zero-inventory, converting localized short-video engagement directly into sales. Meanwhile, SHEIN's flexible supply chain enables buyers to swiftly respond to social media trends and update product listings through a "small orders, quick response" model, helping to minimize trial-and-error costs. Digitizing Traditional Channels to Boost Operational EfficiencyFor buyers who rely on offline channels, Yiwu is enhanceing service capabilities through digital tools. Amazon's "Multi-Channel Fulfillment" integrates global inventory, allowing merchants to sync products across independent websites, physical stores and other sales channels with a single click. In Russia, Wildberries has established 58,000 pickup points, helping achieve localized fulfillment, shorten delivery times, and reduce return rates. A German home goods buyer noted, "Through Yiwu's digital platforms, my order processing efficiency has increased by 40% and logistics costs have dropped by 15%." Expanding Local E-Commerce Operations to Strengthen Supply Chain AssuranceAmid emerging market opportunities, Yiwu's overseas warehouse network and AI-powered tools have become the foundation for asset-light global expansion. Yiwu has established smart warehouses in locations such as Dubai and Mexico, supporting order splitting and multi-country customs clearance—effectively mitigating policy risks. Latin American e-commerce giant Mercadolibre presented a case at the event: guided by platform data, a Yiwu-based tool manufacturer developed a high-precision screwdriver tailored for Brazil market The product was priced at three times the local average, and achieved over $100,000+ in sales within the first-month. "The agility of the Yiwu supply chain gives us the confidence to explore high-margin niche markets," emphasized a senior executive from MercadoLibre. Global Consumers: A Beacon of Affordability Amid Trade Tensions Broad Product Range and Unbeatable Value to Meet Diverse Needs"The storage boxes I bought on TEMU cost only one-third of what I'd pay at my local supermarket—and the quality was surprisingly good!" shared a U.S. consumer on social media. With access to Yiwu's 2.1 million product SKUs, global consumers are able to meet their everyday needs at significantly lower costs—from customized African homeware to trendy European accessories and affordable Southeast Asian cosmetics. Yiwu-made products are rapidly entering global markets via platforms like TEMU and Shopee. TEMU's viral "slash-a-price" referral model further empowers consumers in lower-tier markets to enjoy the full benefits of unbeatable value. Efficient Logistics and Hassle-Free After-Sales Service Redefine the Consumer ExperienceLogistics disruptions triggered by trade tensions once undermined cross-border shopping experiences—but Yiwu's fulfillment network is now turning the tide. Through its "small orders, quick response" model, SHEIN has achieved 7-day delivery to European and North American markets. RedNote leverages multilingual AI tools to automatically generate product content tailored to local cultures, reducing communication gaps and mismatched Russia, Wildberries has launched a "pick-up and inspect before return" service, allowing customers to check items on-site, resulting in a 15% drop in return rates."Now, receiving products from Yiwu is just as fast as buying from local e-commerce platforms—and returns are easier too," shared a French user. Localized Adaptation and Cultural Resonance Deepen Consumer TrustThe flexible nature of Yiwu's supply chain allows it to swiftly respond to the personalized needs of regional markets. According to data from the Egatee platform, African buyers are using AI-powered matching tools to source cosmetics and stationery aligned with local aesthetics—leading to a 30% increase in repeat purchases. Meanwhile, TikTok's Southeast Asia team is helping merchants create culturally tailored short videos, doubling product click-through rates."Made in China is no longer just about low prices—it's now the preferred choice that fits our lifestyle perfectly," commented a consumer from Indonesia. Co-Building the Ecosystem: From China's Shelves to Global Solutions Yiwu's breakthrough lies not only in product export but also in providing systematic capabilities for global trade. The "Digital Brain," developed jointly by Alibaba Cloud and Yiwu, analyzes global consumer trends in real time to help merchants dynamically adjust production capacity. Platforms like DHgate and Baidu's procurement service offer buyers bestseller prediction tools to reduce product selection risks. Walmart integrates financial and logistics service providers to launch a one-stop overseas expansion solution, enabling small and medium-sized buyers to enter global markets effortlessly. Even more transformative is the reshaping of brand value. The "Yiwu Selection" concept stores, launched as branded overseas outlets, achieved sales exceeding RMB 120 million within five hours at their flagship store. Featuring curated categories such as accessories, home goods, and beauty products, these stores break the stereotype of Yiwu as a low-cost dumping ground. "In the past, customers only asked about price. Now, they care more about quality assurance and exclusive designs," said a merchant participating in the brand program. Looking Ahead: A New Era of Certainty in Global Trade "Let his strength be but the wind that sweeps over the mountains." This saying from a Yiwu merchant perfectly captures the current state of global trade. In October, the Yiwu Global Digital Trade Center will officially launch, further integrating AI-driven product selection, smart warehousing, and omnichannel resources to seamlessly connect the China's supply chain with global demand. For overseas buyers, Yiwu serves as a powerful growth accelerator—leveraging influencer-driven marketing, digital tools, and localized services to unlock new opportunities. For consumers, it is a reliable gateway to better living—offering high value, efficient fulfillment, and culturally tailored products that enhance the shopping experience. As uncertainty continues to global trade, Yiwu's evolving digital ecosystem is delivering something increasingly rare: a dependable answer in uncertain times. View original content to download multimedia: SOURCE Sign in to access your portfolio
Borneo Post
28-05-2025
- Business
- Borneo Post
China's ‘world's supermarket' eyes thriving prospects amid trade uncertainties
Foreigners carry a suitcase for sample purchasing at Yiwu International Trade Market in Yiwu on May 16, 2025. – Xinhua photo YIWU (May 29): Despite global tariff headwinds, east China's Yiwu, a renowned global trading hub known as the 'world's supermarket', stays bustling as usual. Colourful toys, sleek electronics and intricate handicrafts continue to roll off assembly lines here, exhibiting the rhythm of global commerce that refuses to skip a beat. In the first quarter of this year, Yiwu's total import and export value reached 167.45 billion yuan (about US$23 billion), an increase of 13 per cent year on year, while exports climbed 14.5 per cent to 147.27 billion yuan. Merchants in the city have shown strong resilience and expressed confidence in long-term prospects, citing diversified markets, agile supply chain adaptations and proactive risk mitigation strategies. Strong resilience Home to around 18,000 resident foreign merchants, Yiwu serves as a vital link, connecting more than 2.1 million Chinese enterprises with over 230 countries and regions worldwide. It is often seen as a barometer of global consumer demand. The Yiwu International Trade Market attracts an average of 220,000 visitors per day. For many Yiwu merchants, a diversified market has been the cornerstone of their resilience, allowing them to navigate the tariff tempest with strategic agility. 'US (United States) tariff policies have limited impact on us, and our sales are stable,' said Zhang Cuiyan, general manager of Ningbo Guanjiang Tools Co Ltd which produces a wide range of hardware tools such as wrenches. With about 20 years of experience, the company exports to over 100 countries and regions, she said, adding that demand from their existing clients remains strong. Meanwhile, some businesses that have traditionally relied on the US market had already begun making adjustments before the raised tariffs. Huahong Art Home Shares Co Ltd is one of the Yiwu-based firms actively exploring new markets outside the US, which has long been a major export destination for its artware. Since last year, the company has been expanding into markets in Southeast Asia, Latin America and Africa. 'We're confident and assured about the road ahead,' said Helen Wang, the company's general manager, who is also setting her sights on China's vast domestic market. 'We have added new product categories to ensure that domestic orders keep growing,' she said, noting that a stronger focus on the domestic market is one of their solutions in response to possible tariff challenges. The company currently employs around 200 designers to push for innovation and move the company up the value chain. It has recently established a gift production unit, leveraging its expertise in artware manufacturing to tap further into the domestic consumer market. Wang also revealed plans for a multi-functional lifestyle space that blends coffee, tea, flowers, baking, aromatherapy, pottery and decorative art, a concept growing in popularity among young consumers in China. Cautious but confident Many Yiwu merchants welcomed the results of a recent China-US high-level meeting on bilateral tariffs, although they remain cautious about a full rebound in exports to the US. Glasses manufacturer Chen Haihong received messages from her American clients to resume the canceled orders, right after the joint announcement of tariff modification. She said the company plans to continue expanding in the US market while diversifying its product range, exploring opportunities in other countries, and growing through both online and offline channels. 'Yiwu should strengthen itself and develop a long-term vision,' said Li Qian, professor with the International Business School of Beijing Foreign Studies University. She suggests Yiwu continue to explore emerging markets, accelerate digital transformation and invest heavily in cross-border e-commerce. Helen Wang from Huahong Art Home Shares expressed optimism that Chinese businesses will adapt. 'The spirit of Yiwu is about a fearless attitude toward hardship, a keen sense of market trends and rapid response, and the agility to adapt and transform with speed,' said Wang, a Yiwu native who has built up her business with her family from scratch, like many other merchants here. 'I think businesses in Yiwu will continue to grow, and the prospects of Yiwu will remain buoyant,' she added. – Xinhua China world's supermarket Xinhua Yiwu
Epoch Times
05-05-2025
- Business
- Epoch Times
US Tariffs Push China's Largest Wholesale Market to the Brink
Stacks of unsold socks, gloves, toys, and storage boxes now clog warehouse floors in Yiwu—the Chinese city that once sent cut-price trinkets to every corner of the planet. Cross‑border e‑commerce orders from the world's biggest small‑commodity hub have plunged by roughly 70 percent since the U.S.–China tariff standoff escalated, a local freight‑forwarding executive says. The shock has hit Yiwu's merchants and logistics firms so hard that many are teetering on collapse. Just last month, Washington raised average duties on Chinese imports to 145 percent, and Beijing hit back with 125 percent tariffs on U.S. goods. A fresh blow landed at one second past midnight on May 2, when Washington With those parcels now taxed—and Washington and Beijing still locked in the broader tariff standoff—exporters in Yiwu say their business model no longer works. 'It feels like the sky has fallen,' Mr. Lin, a cross‑border seller, told The Epoch Times. Lin supplies the U.S. market through Temu, the overseas arm of Chinese retail giant Pinduoduo, but can no longer make the math work. Related Stories 5/5/2025 5/4/2025 'They force you to slash prices, or they fine you for slow movers. In the end, you lose both goods and cash,' he said. Lin has already cut staff, will vacate his multi‑thousand‑square‑meter warehouse next month, and will move into a space a fraction of the size. 'Our sales are down 50 to 60 percent. I can't sleep. There's no way out, so we keep going and hope,' he added. Mr. Xu, another Yiwu-based merchant from Henan Province, was blunter still. 'Foreign trade is now the hardest line of work. The U.S. market is dead; small parcels have zero orders. Every day is confusion, anxiety, pain,' he said, adding that he works more than 12 hours a day with no weekends, yet sees no path back to growth. Yiwu hosts more than 20,000 freight‑forwarding companies that once funneled local factory output through nearby Ningbo Port to the United States, according to Mr. Wang, owner of a Yiwu-based international‑logistics company. Roughly half have shut their doors since the tariff fight began, he told The Epoch Times. 'Our weekly containers have dropped from a steady 80 to fewer than 40,' he said. Forwarders now demand cash top‑ups from customers mid‑voyage in case tariffs rise before a ship reaches a U.S. port, Wang said. 'If the duties jumped when the goods reach the U.S. and the client walked away, we'd be bankrupt, with nowhere to dump the cargo,' he added. The squeeze is most apparent for sellers who rely on the Fulfillment by Amazon (FBA) program, where storage fees, shipping charges, and now punitive tariffs can wipe out thin margins, according to Wang. He said Washington now levies duties of about 145 percent on clothing and up to 245 percent on items such as syringe needles. To cope, forwarders cram only a small volume of high‑duty goods—about 16 cubic meters (about 565 cubic feet)—into each container and fill the rest with lower‑tariff items, hoping to dilute the overall tax bill. The tactic buys time but carries serious risks: a single mis‑declaration can trigger fines 'in the tens of thousands of dollars,' he warned. Factories across Yiwu are idling lines, cutting wages, or shutting down altogether as unsold inventory piles up, according to Lin. He puts the casualty rate among would‑be cross‑border sellers at 'about 99 percent,' with only a fortunate few still turning a profit. Even logistics firms may not last, Wang adds. If the tariff stalemate drags on another three months, he predicts, Yiwu's freight‑forwarding sector will shrink to roughly 5,000 companies. For a city whose prosperity was built on the promise of friction‑free global trade, the tariff walls feel like a dead end. 'We're worn out,' Lin said. 'But there's nowhere else to go.' Fang Xiao and Xiong Bin contributed to the report.
