As Paris Olympics approaches, Yiwu’s goods are getting huge market < Business < 키이본문

As the Paris Olympics approach, the city of Yiwu in eastern China’s Zhejiang province, known as the “world’s supermarket”, has won a huge influx of video game-related orders.

The Yiwu World Industry Market in Yiwu City is surrounded by a strong Olympic atmosphere, with a large selection of wearables and Olympic products that can be purchased.

Yiwu customs data shows that the export value of wearables and goods in Yiwu reached 4.1 billion yuan ($563.7 million) in the first five months of this year, an increase of 44.4 percent year-on-year. France developed a lot.

The city has seized the industry opportunities offered through major world sporting events, from the FIFA World Cup to the UEFA ECU Championship and the Olympics. It has won wide recognition, established a vast market, and demonstrated China’s manufacturing energy.

Entering the Yiwu World Industry Marketplace, silicone wristbands with the Paris Olympics emblem were displayed in a shop front. “This wristband is produced by a factory with official authorization,” said a service provider named Lin Daolai.

Ultimately in October, his corporate received the bid and won the form to produce 1 million Olympic wristbands. Almost a few months into production, the first lot of wristbands have arrived in Paris, and the second lot has already been shipped. “These 1 million Olympic wristbands have increased our annual sales by 30 percent,” Lin said.

Since last year, primary investors of the Yiwu World Industry Marketplace have won a large collection of Olympics-related orders. Wang Qiang, president of the Yiwu Sports and Health Provisions Business Association, said the association briefly prepared for the Paris Olympics by gathering companies and investors to discuss marketing strategies and strengthen the supply chain system.

“In the first quarter, the industry’s overall sales increased by 30 to 35 percent compared with the same period last year. Yiwu is able to provide abundant supplies for the Paris Olympics as orders continue to arrive,” Wang said.

The financial system of rapidly growing sports activities has provided immense impetus to the creation of Yiwu. In addition to the Paris Olympics, investors also see opportunities in the UEFA ECU Championship and Copa United States this summer.

Local jersey provider Wen Congjian started preparations early for both events. “This year, our business has increased by about 30 percent thanks to these sporting events,” Wen said.

Offering some major world sporting events, Yiwu has won the share of global consumers. Yiwu World Industry Marketplace, with more than 2.1 million types of merchandise in its 75,000 industry booths and 26 divisions, is now exporting to more than 230 countries and regions around the world.

The Qatar 2022 FIFA World Cup sparked a selling frenzy among investors in Yiwu. “We sold approximately 2 million jerseys in 2022, doubling our revenue from last year,” Wayne said.

The production and sales of products such as vuvuzela horns and key chains also saw significant growth. To ensure easy supply, Yiwu opened a dedicated transportation path for FIFA, allowing goods to reach Qatar’s Hamad Port in just 20 days. It was estimated that products made in Yiwu would account for about 70 percent of total sales during the 2022 FIFA World Cup.

While enjoying the joy derived from certain sporting events, many investors in Yiwu are now adept at keeping up with developments and responding to market demands.

Service provider Hui Ping’s store focuses on sports activities tournament products. Lately, many buyers have been coming to her shop to purchase items, and the old gleaming stick has been particularly common for cheering. The Glim Stick is designed to provide up to 10 hours of steady illumination, ensuring that it fully meets the audience’s desires for watching the game.

To stay ahead there, merchants in Yiwu are placing better emphasis on product innovation, album design and providing remarkable convenience. The growing structure of production in China has provided strong support to Yiwu and strengthened the city’s position in the world supply chain.

In this day and age, Yiwu is undergoing rapid market transformation, aiming to strengthen technical content and enhance the value of its products through innovation. With the rise of cross-border e-commerce, local companies are shifting their focus from a production-centric approach to actively seeking market opportunities, characterized by a gradual shift to on-demand manufacturing and advanced capacity. Is.

Those inventions constitute the transformation and upgrading of Yiwu’s production and industry type within a span of time.

Wang said, “In recent years, the number of shops selling sporting goods in the Yiwu international trade market has been continuously increasing, and the share of Yiwu sporting goods in the global market has been continuously increasing.” “We believe that through continued innovation, we will sell more high-quality products to the world.”