This is how Yiwu market works:
When you go to Yiwu market with your agent, the vendor would ask your agent how to quote the price. Most likely your agent would tell them how many percent they want (in Chinese called DIAN, pronounced D-ee-an). If your agent wants one DIAN, that means they will increase the price by 1%.
For example, a 1.00 USD padlock, after increasing by 1 DIAN, it would be 1,01USD. So when the vendor is asking your agent how they should quote the price next time, you could yell out “NO DIAN”.
And, you can also learn some Chinese numbers from 0 to 10: 0, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 pronounced ling, yee, er, san, s, wu, liu, chi, ba, jiu, sh. Are you practicing now?
Good, practice makes perfect.
If possible, buy more.
You can always have better prices if you can buy bulky from the market. For example, one container of straws, then you may get a 3% discount off. If you just buy a few cartons, there would be very limited space for bargain.
So try to buy bulky to have a better discount.
Many suppliers are willing to offer a slight discount if you can pay off the balance upon goods delivery, so they don’t need to keep a big cash flow.
Now this method doesn’t work so well because of the financial crisis. Most suppliers now ONLY “grab cash” as they say.
This is a huge market for zillions of products. Suppliers are competing to keep the price within a reasonable range. So it is always a good idea to compare if you have enough time. I’m sure you can always have a better price if you compare 10+ shops for one same product.
Hope these few tips can help you get a good price from Yiwu market. I’ll keep posting more tips about how to get the best price from Yiwu market here as time goes by.
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Apr.05. Qingming holiday. Stores 50%+ close/half-close. Visiting not suggested.
May.01. May holiday. Stores 30%+ closed/half closed. Visiting not suggested.