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Yiwugo.com, the official website of the Yiwu Commodity Market (YCM), which is the largest commodity wholesale market in the world, announced that the GMV on Yiwugou mobile app has surpassed that of the website in the past 6 months. The service is especially popular among small and medium-sized buyers (SMB) who prefer to place orders directly on the mobile app. It is evident that Yiwugou.com has kept up with the trend of mobile commerce with its mobile app strategy. The recent launching of the English version of the Yiwugou app further facilitates overseas buyers to communicate with Yiwugou suppliers.
Riding with the Tide of Mobile Internet
Mary Meeker, the "Queen of Internet", delivered a 2017 internet trends report recently, highlighting the growth of mobile internet in China with over 700 million users in 2016 versus 100 million in 2008. Riding with the tide of mobile internet, Yiwugou started to develop the mobile app, aiming to bridge the gap between suppliers and buyers. Through the app, global mobile internet users can get access to the 70,000 tier-1 suppliers at the YCM. Since early 2017, there has been exponential growth both in user and GMV on the app, which currently contributes to more than half of the transaction volume of Yiwugou E-commerce platform .
Introduction of Dedicated Services Section for SMBs to Keep Up With the Tendency of "Wholesale +Retail "
Besides serving major traditional wholesalers, Yiwugou supports SMBs, and has introduced new SMB-centric service sections, such as Crowdfunding and "Youxuangou". The Crowdfunding section allows manufacturers to initiate crowdfunding requests where SMBs can purchase small commodities in retail quantities at wholesale prices, and was well received with more than 300 Crowdfunding instances since its launching. The "Youxuangou" section launched this year and further provides SMBs with more choices with the principle of providing best choice items at wholesale prices without minimum sales volume.
Launching of the Yiwugou App in English
With the implementation of the Belt and Road (B&R) initiative and the regular operation of the YXE International Container Train, as one of the largest export centers for small commodities in China, Yiwu is now more closely connected to the B&R countries. It has maintained official exchanges with 86 cities, twined with 24 cities (including Barcelona), and fostered trade relationships with 64 countries and regions along the B&R. In this context, Yiwugou launched the English version of its mobile app, facilitating the exchanges between overseas buyers and merchants at the YCM over mobile phones.