YIWU, China, Aug. 29, 2016 /PRNewswire/ -- Yiwugou.com, the official website of the Yiwu Commodity Market, which is the largest commodity wholesale market in the world, found that the Summer Games galvanized Brazilian purchasers into buying more in Yiwu for the event, leading to increases of varying degrees in the turnover of Olympics-related stationery and sporting goods -- most notably among suppliers committed to quality and innovation.
Olympics reassures Yiwu of the Brazilian market
Merchants on Yiwugou once grumbled about a sharp decline in orders from Brazilian customers starting from 2014, mainly as a result of devalued Brazilian currency. The Summer Games, however, spawned new orders from Brazil, as best exemplified by Yiwu Sunnytad Toys & Crafts Co., Ltd., which produced a total of one million "Vinicius", the Olympic mascot, coming in ten series.
Many merchants, such as Hebei Yongtao Sports Equipment Firm, Jiahua Sports Products Firm, and Rongya Sports Products Firm, registered and increased trading volume in Olympics-related stationery and sporting goods. In 2016, Hebei Yongtao Sports Equipment Firm has posted a turnover of RMB20.67 million, more than double compared with that of RMB8.38 million within the same period in 2015.
"This year, I feel a significant rise in the number of Brazilian customers. Their orders come in respectable quantities, though at slightly lower prices compared with those from other countries," said the person-in-charge of Zhangweichao Socks Firm.
Yiwu embraces quality and innovation to win the market in post-Olympic era
Indeed, given this year's grim export situation, the Summer Games played a positive role in boosting foreign trade exports of relevant industries. Yet according to insiders, firms must develop new products, channels, and brands, among others, in order to thrive on a long-term basis in the post-Olympic era.
Prior to the Games, Yiwu Sunnytad Crafts & Co., Ltd. was the mascot maker for 2014 Brazil FIFA World Cup and other events. Hong Chengfang, the company's general manager, said, "Yiwu used to be synonymous with squeezed prices. But now, Yiwu products have entered a new period with more focus on quality than on quantity. And the future products to be intelligently made in Yiwu are sure to compete better in quality, added value, and price."
"Innovation is critically important. We must make the most up-to-date products and market them on well-established e-commerce platforms like Alibaba and Yiwugou," said the person-in-charge of Hebei Yongtao Sports Equipment Firm.
Cross-border e-commerce emerges as a new growth engine for foreign trade in Yiwu
In the first half of 2016, Yiwu recorded RMB 29.8 billion in the turnover of cross-border e-commerce, up 14% YoY; meanwhile, the city saw an average daily express orders of 600,000, surging 33% YoY.
E-commerce, especially cross-border e-commerce, has substantially increased the sales volume of Yiwu products. In the foreign trade-oriented city of Yiwu, cross-border e-commerce is now coming to the fore.
"Yiwugou, launched three years ago, has become a landmark e-commerce platform in specialized markets. In the future, Yiwugou will deepen online & offline integration. It will strive to offer more professional, fine-tuned, and tailor-made services to its suppliers and purchasers, and help Yiwu firms, brands, and products shine more brightly in the post-Olympic era," said Wang Jianjun, CEO of Yiwugou.