YIWU, China, Jan. 23, 2021 — Yiwugo.com, the official website of the Yiwu Commodity Market, which is the largest commodity wholesale market in the world, held the Yiwugo Development Conference & the 2020 Yiwugo Top 10 Vendors Award Ceremony on the afternoon of January 21 at Yiwu Marriott Hotel. Representatives at the conference discussed the paths of the transformation and upgrading of the physical wholesale market.

Top 10 Vendors are awarded, contributing to the development of their own brands

The Yiwugo Top 10 Vendors Award, which has been held for the 9th consecutive year, provided a platform for vendors in the Yiwu market to develop their own brands. Ten enterprises including Zhang Weichao Socks Firm, Beicheng Stationery Firm, Bole Stationery Firm, Shifeng Socks Firm, DuoAi Toy Firm, Yiwu Hanfan Ribbon Co., Ltd., Yiwu Mingcan Knitting Co., Ltd., XUPING JEWELRY, Yiwu Aishang Daily Necessities Factory, and Jinhua Lvkang Plastics Factory won the honorary title of "2020 Yiwugo Top 10 Vendors". This year the award of "Top 10 Broadcasters" was also launched for live-stream broadcasters. Zhang Weichao Socks Firm, which ranked first in the "Top 10 Vendors", was also the top winner of the "Top 10 Broadcasters".

Wholesale trade needs more flexible trading modes faced with the continuous shortening of the circulation chain

With the broader use of digital technology in the industry, the information flow and logistics have accelerated and shortened the commodity circulation chains to some extent. From the multi-level consumption and circulation chain featuring "manufacturer -> multi-level wholesaler -> retailer -> final consumer" in the past, to the emerging consumption model of "manufacturer -> final consumer", wholesale business requires more flexible trading methods. Faced with these changes, representatives at the conference and vendors participating in the conference learned about the new concepts brought by the "new wholesale modes" such as "online development of the offline market", "shortening the circulation chain", and "reshaping the trading scenarios", and explored how to improve business models and processes to keep up with the development of the time and seek further and better development.

Yiwugo has tried to launch cloud warehousing services to empower vendors as they enter a new era of wholesale

Faced with more flexible trading modes, vendors need more support and assistance to effectively transform their business models. Yiwugo has tried to adopt the Internet + warehousing intelligent management model to provide vendors with services of better quality at lower cost including warehousing management, drop-shipping, logistics transportation, and express delivery in response to the pain points facing vendors after receiving small retailing orders. By providing these services, Yiwugo helps more vendors accelerate the transition to a more flexible trading model, thus benefiting from the development.