Price quoted in Yiwu market are all EXW YIWU price, which means the price only covers all cost till delivered to a warehouse in Yiwu. This usually contains product cost plus freight from factory to a warehouse in Yiwu. Buyer needs to pay all cost from a Yiwu warehouse to their own warehouse.
If buyer need FOB price, they need to add 10% to be safe. This 10% already covers agent’s commission and all inland freight & costs.
Having a good agent understand your needs then plan & prepare your trip in advance can be very beneficial. They can make your trip 10 times more productive.
However, a bad agent can destroy your business. You can get burned easily.
For same product in different shops, 5-10% price difference is possible. However, if the price gap is bigger than 10%, buyers are suggested to exam the quality and other details carefully. Because it’s rare for such a big price gap for a same product in such a competitive market.
Profit margin in Yiwu market is usually 5-15% for suppliers.
When a supplier says they have certificates, it doesn’t mean they have the right certificate for you, you need to see their certificate, to be sure of.
When a supplier says there is no minimum order quantity, “Doesn’t matter for how many cases”, Which usually means they need several cases minimum. It doesn’t mean you can buy one case. A 10.00USD delivery fee usually occurs when your order value is less than US$300 from one supplier, because the profit may not cover the delivery freight.
Stock not means ready to be picked up. It usually means products are ready in a warehouse to be shipped, usually needs 3 - 10 days to deliver. Because stock can be sold as time goes, in stock now doesn’t mean still in stock when you order. Better to pay a small deposit to let supplier keep / secure stock for you. Or let your agent collect as early as possible.
Most of shops don’t offer catalog, usually because of fast update plus too many styles. Buyers need to chose products inside store and get information one by one. Taking good notes is essential, esp. when you don’t have a solid relationship with your agent.
Most of shops don’t offer samples. Whether you can get sample is depend on how “genuine” you are and how many sample fee you pay. Buyers are suggested to order a minimum quantity to test market.
Yiwu market is good for mix lots of different designs for one product, this usually help sales.
However, it can be tricky. Especially for stock products, it’s better to confirm by contract saying randomly mix (suppliers mix whatever available) , or certain designs mix, or certain designs unacceptable.
You can have nasty surprise when open boxes.
Only 20% of suppliers are factory.
Dealing with factory direct may not be a good option when your quantity is small. A distributor can usually offers lower MOQ and better service, which is very helpful for small buyers.
This needs to be confirmed with other details like package before placing order.
A small label can cost you a lot if your customs ask you to re-label all your products at your port.
Pay deposit ONLY AFTER all details of your order is confirmed, including marks, labels, package, customization... etc.
Paying deposit via agent is usually suggested, because there can be misunderstanding between buyers and sellers due to language & culture barrier.
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