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Yiwugo.com Tallies six-fold Sales Increase in Lead-up to Singles' Day
Yiwugo.com, the official website of the Yiwu Commodity Market, which is the largest commodity wholesale market in the world, announced online sales of over RMB 550 million, up more than 600% YoY, in the lead-up to the Singles’ Day (11/11) Shopping Carnival. The record-busting figures fully indicate the portal’s importance as an online commodity hub.
On the day of the Shopping Carnival, the biggest highlight came from Tmall which logged RMB 10 billion within 12 minutes and 28 seconds and RMB 41.7 billion within 7 hours, 45 minutes and 42 seconds. The constantly refreshed figures delighted not only Jack Ma, but also the Yiwu Commodity Market, known as the “World Supermarket” of online goods in China.
Backstage winner of 11/11
Yiwugou.com positions itself as an online wholesaler. Since its official launch on October 21, 2012, Yiwugou.com has seen a steady increase in annual sales: RMB 60 million in 2013, RMB 1.5 billion in 2014, and an estimated over RMB 3.5 billion in 2015.
The Shopping Carnival is a godsend not only to online dealers, but also to logistics, payment, banking and other sectors along the industrial chain. As an important platform for preparation and wholesale of online goods, Yiwugou.com is highly favored by B2C sectors for its variety of choices, reasonable pricing, and business integrity. Like other major players – Taobao, Tmall and JD – Yiwugou.com was toeing the line one month in advance.
From October 10 to November 10, 2014, Yiwugou.com clocked up online sales of over RMB 77 million. The figures topped RMB 550 million over the same period this year. An expert in O2O integration, Yiwugou.com turned out to be a “backstage winner” of the 11/11 event.
First China, then the World
Driven by the “One Belt and One Road” initiative, Yiwu notched up total imports and exports of USD 15.61 billion in 1H15, up 43.5% YoY, coupled with a 78% increase in registered e-businesses to over 29,000. The city has established itself as a massive physical, and virtual market.
Yiwugou.com boasts 77,000 online stores and over 3.1 million spot goods. While competing in domestic markets, it is committed to a hub of global online goods. On October 21, Yiwubuy.com, the cross-border e-commerce platform of Yiwugou.com, officially went into service. Not only has the platform realized channel flattening by bypassing primary, secondary and even tertiary wholesalers, but it also offers one-stop wholesale services to overseas purchasers, integrating such sectors as payment, customs clearance, and logistics. Yiwubuy.com expands the advantages of Yiwugou.com as an e-commerce platform by making inroads into cross-border trade, and helps reduce the purchasing and operating costs of overseas buyers.