Stability of Suppliers and profession level
In the market, suppliers vary startlingly by their profession level and experiences. There are famous brands with tens of years’ history, and those newly entered newbie as well. They are mixed up with one another. According to a survey, about 20% suppliers are newly moved in every year. Thus, you need to learn how to distinguish one and the other. Overall competition is intense. Thus, it really happens that you do a business with one supplier, but couldn’t find him next year. All together, their services are not in the same level. Chances are that they might probably put the wrong label, fail to effect the shipment in time, or get a high defective rate.
Are they factories?
Actually about two thirds suppliers in the market are traders. Even the tiny remaining are factories focusing on small-sized production. Many traders will tell to you that they are factories. The result is turned out they are just house-based workshops which only process one or two products, but source the large part of products from other factories. In fact, claiming themselves as factories is one of their marketing strategies. But take a step back. If you can find the right product, it doesn’t matter whether the supplier is a factory or a trader.
Is the price Competitive?
The answer is definitely YES! Prices are way much lower than that in Guangzhou and Canton Fair. It’s due to the different types of suppliers. In Yiwu market, the upper supply chains are always house-based workshops, which are featured of low management cost. Compared to those big factories, the same product is sure to have a competitive price here. Of course, various management modes can result in different quality levels.
How about the quality?
Product quality right now is growing tremendously, compared to ten year ago. A Europe-based customer said “Many years ago, a toothbrush was only 2 cents. There is no way for a good quality. Now the price is going up, but the quality is becoming acceptable. You get what you pay for. No matter what your price is, suppliers can make products at your target price anyway. Maybe that’s the flexible Made-in-China feature.
Of course most of the suppliers are speaking in Mandarin, including a minor group are in Cantonese. They can hardly speak in English and other foreign languages. Most of the time, buyers will take an interpreter along with themselves. If you are seasoned about your own product, that’s fine. Just take a calculator. Suppliers will enter their quotation price on the calculator. They are often used to do that. But we still suggest you find an agent or contact an interpreter beforehand. As such, an interpreter can help you a lot while browsing around the market.