24 Dec, 2020, 11:00 ET
YIWU, China, Dec. 24, 2020 /PRNewswire/ -- Yiwugo.com is the official website of the Yiwu Commodity Market, which is the largest commodity wholesale market in the world. According to the back-office statistics about transactions on Yiwugo, as of the end of December, the total number of online orders in 2020 had grown by 100% YoY as compared with 2019, more than 80% of which were placed by cellphone users; the SKU indicator had increased from 3 million in the beginning of the year to 5 million; the number of registered buyers had exceeded 6 million.
The increase in orders on Yiwugo is mainly attributed to the following reasons:
I. As the circulation chain of commodities shortened, small retailers had an increasing stock demand
Along with the development of information technology and the logistics industry, the circulation chain of commodities has been shortening and the efficiency of commodity circulation has been increasing. As a result, the original multi-layered wholesale system is shifting to the mode of direct supply to retailers in small batches. In response to the development trend of the wholesale market, Yiwugo has also actively adjusted and constantly improved its services to address the stock demand of small retailers, such as launching the live streaming function for suppliers to introduce their products to retailers, improving payment and logistic services, and stepping up efforts to publicizing the stocking demand of small retailers. All these measures have contributed to the significant increase in small retailing orders on Yiwugo, hence a notable growth in orders on the platform as a whole.
II. The continuous development of the global mobile internet has promoted the increase in orders placed by cellphone users
2011 to 2020 is a golden decade for the development of the mobile internet. Through 10 years' development, the mobile internet has been gradually popularized, making online transactions undoubtedly easier and faster. According to statistics, the global downloads of the Yiwugo app exceeded 30 million, and more than 80% of the orders on Yiwugo came from cellphone users. These orders have promoted the growth of total orders.
III. The impact of the COVID-19 pandemic drove up online orders
In recent years, the e-commerce supply chain in Yiwu has been developing at a high speed, and Yiwu has become the world's largest online commodity supply base for daily necessities and also taken the lead in cross-border e-commerce. Many vendors in Yiwu are adopting the mode online-offline integrated development. In the context of the COVID-19 pandemic, such a mode has enhanced the resistance of the small commodity supply chain against risks brought by the pandemic. As the online version of the Yiwu market, Yiwugo has served as a strong supplement to the physical market and gained favor among even more buyers around the world.
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