What is this article about?
In this article, we’ll talk about the five benefits of working with a Yiwu sourcing agent and the firms that stand to gain from this.
International wholesale buyers want to import various products from the Yiwu market. More than 60% of international buyers come to the Yiwu market to buy miscellaneous products to make 20 or 40ft containers. You could consider the container a mini supermarket for better understanding. Click the below video to learn about the Yiwu market.
International wholesale buyers want to import various products from the Yiwu market. More than 60% of international buyers come to the Yiwu market to buy miscellaneous products to make 20 or 40ft containers. You could consider the container a mini supermarket for better understanding.
Importing from China Yiwu wholesale market sounds complicated. Well, when there is a will, there will be done. The key is to know how. Then the rest doesn’t seem to be an issue to you. To put it simply, let’s face it, not every customer has time or energy to do research, find suppliers, inquire about prices, inspect quality, and provide logistics all by themselves. So, It’s always a good idea to have a local agent in Yiwu.
A Yiwu agent is an intermediary company between the buyer and the seller. Many customers think they can get everything done with the seller’s contacts. More things need to do than just getting a connection. After all, you are importing from one country to another, and it’s not like you go to the nearby supermarket to buy products.
Why You Need A Yiwu Sourcing Agent
To many international buyers who are used to purchasing bulk products from Alibaba or Made-In-China, or Globalsources, the Yiwu market also has its platform called Yiwugo. Unfortunately, this website provides functions more like a yellow page rather than an international e-commerce platform. There are around 75000 shops in the Yiwu market, and every shop has its online shop on Yiwugo. When you search the shop number in the Yiwugo search bar, you will enter a page that includes all details, such as shop image, 3D photo, product details in the catalog, shop number, etc.
You could contact the shop directly by the famous Chinese chat app WeChat, or you could use WhatsApp (not so many use WhatsApp as China officially bans) to contact suppliers. However, you also should know that there are barriers.
Language. As an export hub, you will be surprised that many shops can’t speak English very well. They could talk a little or use a translation app to communicate with you. It’s not that bad. At least they could communicate with you, maybe not that fluent, but in a prior understanding.
Payment. After you confirm the orders with them, then next? You need to pay to start the orders, and do you think to send US dollars to them? Unfortunately, more than 80% of shops in the Yiwu market don’t have USD accounts due to the foreign currency regulation policy of the Chinese government. Opening a company USD account is more complex than ever nowadays. Of course, the individual account allows 50K USD per year, which is not a good option for business people.
Inspection. To customers who want to buy miscellaneous products without a local agent, how can you inspect those products? I mean, you need to check whether the quality, quantity, and package are correct or not before shipping, no? So would you prefer one local agent to help you collect all those products from all suppliers in one place (usually the agent’s warehouse) and inspect them before shipping them to you? I suggest you wouldn’t say no, because this is one reason why hundreds of thousand sourcing agent companies exist in Yiwu, China.
Shipping. Even if you could get the above three done, can they ship directly to you after they finish production? Sorry, still no, many Yiwu market suppliers can’t send to you directly by themselves. Well, they probably can call DHL or FedEx to ship to you. That’s another case; not so many foreign buyers fly to Yiwu to buy a few things that can be sent by courier service. We are talking about wholesale like LCL, FCL, and sea shipping here.
5 Advantages of having a Yiwu sourcing agent
A professional Yiwu sourcing agent has an extensive network of reliable suppliers called the supply team. To develop your product, customize a current product with your branding features, or source standardized items for wholesale, etc.
1 – Time and Money Savings
The most valuable commodity in business is time. It can always bring value and money to your company. Get the most out of it! A Yiwu sourcing agent usually charges service for a commission. That’s true, there is cost, but It’s very likely to avoid expensive mistakes with sourcing agents’ extensive network of partners, so you may also gain from this if you choose the right sourcing agent in Yiwu.
2 – No Scams
Suppliers in China are generally trustworthy and willing to engage with foreign firms and brands. Of course, in any industry, there are a few rotten apples. Thus, due diligence is crucial when dealing with a sourcing agent in Yiwu, China.
In most cases, you only need to keep in touch with your agent and let your agent take all the hassles because no matter how complicated suppliers, your agent should be the only one to be responsible for you.
With that being said, if your order has any problem, your agent should be the one to fix it for you, not that you need to contact suppliers. Otherwise, what’s the point of having an agent? Your sourcing agent should be the only one who gives a refund or compensation to you if your order has any problem. Again, it would help if you found the right and reliable sourcing agent in Yiwu.
3 – The Sourcing Agent’s Commission
Now let’s talk about the commission. Generally, the commission for a sourcing agent in Yiwu varies from 1% to 5% of the product value. The more value you import, the less commission. Is it expensive or cheap? That depends on how you look at it. Of course, each sourcing agent company has its commission structure. Take us as an example; our commission structure is:
5%: Product value < 20K USD per shipment.
4%: Product value ≥ 20K USD per shipment.
3%: Product value ≥ 50K USD per shipment.
2%: Product value ≥ 100K USD per shipment.
1%: Product value ≥ 200K USD per shipment.
4 – No misunderstandings
Almost all sourcing agents are fluent in Chinese and English; that’s one of the critical reasons to make them agents. So sourcing agents can be intermediaries between foreign buyers and Chinese suppliers and prevent misconceptions on different languages and cultural levels.
An agent from China will know how to do business in China, as well as the art of negotiation, and will be able to help you get the best price for your products. How many traps are there? You may not believe it at first. Similarly, sourcing agents may provide bids and product details in your local language if they are competent in English.
5 – High-quality products and services
The goal of having a Yiwu sourcing agent in the Yiwu market is: To receive products as you expect in quality.
A professional sourcing agent’s good service usually delivers the required products you import from the Yiwu market. So, how can you protect yourself from this risk and ensure that your business partners are reliable and trustworthy? An experienced and professional agent, that’s the answer, clear and straightforward.
But how? Well, the professional sourcing agent should be able to monitor all steps, including price negotiation, order tracking, quality control, warehouse facility, container loading, China customs declaration, and shipping.
If you need more details, those clickable texts will give you a complete picture, and one of our YouTube videos is attached to each article on our website. I hope that could answer all the questions for you. If still not, you are welcome to WhatsApp or Email us anytime, and we are 24/7 ready to answer any further questions.
If you need to import various products from the Yiwu market, having a professional local sourcing agent in Yiwu will make your imports from China Yiwu easier and simpler.
You Might Be Interested
Our last blog post: China Yiwu Sourcing Services Ship From China To Australia
More about the Yiwu market: Yiwu Market District 1 / Yiwu Market District 2 F Section / Yiwu Market District 2 G Section / Yiwu Market District 3 / Yiwu Market District 4 / Yiwu Market District 5 / Yiwu Market Products / Keqiao China Textile City