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YIWU, China, March 16, 2022 /PRNewswire/ — After closure during the Spring Festival, the Yiwu market, the largest commodity wholesale market in the world, officially reopened on February 12. Yiwugo.com is the official website of the Yiwu Commodity Market. According to Yiwugo’s back-office statistics, in a month since the market reopened after the 2022 Lunar New Year, its GMV grew 38% compared to the same period last year, while the number of merchants and buyers that had closed deals increased by 10.8% and 26% respectively.
As a tradition, the brick-and-mortar market in Yiwu will be closed during each Spring Festival. Naturally, the sales performance following the Spring Festival will catch much attention of all parties, and the merchants will fully prepare their stocks and get all geared up to make a good start in the new year. Although Yiwugo is an online platform, all the merchants it hosts are running stores offline as well. Therefore, the order volume on Yiwugo fluctuates as the market closes and reopens. According to the back-office statistics, since the market reopened in 2022, Yiwugo’s marketing indicators such as the online GMV, the number of deals closed, and the number of buyers/merchants that have closed deals have all bounced back strongly as compared with the same period in 2021, and the market performance has been picking up steadily.
After the Spring Festival, Yiwugo stepped up efforts in overseas product promotion for its merchants on the world’s mainstream platforms such as Google, Facebook and Youtube, with a view to helping them "get off to a flying start". the overseas traffic of Yiwugo has increased by more than 100% YoY. Buyers from over 100 countries and regions have established contact with suppliers through Yiwugo and engaged in cross-border trade of merchandise. Recently, daily necessities, toys, apparel and fashion accessories have been the best-selling products on Yiwugo.
This year, the ongoing global pandemic and conflicts in some regions will still bring uncertainties to the global economic operations. Despite the adverse factors such as the surging prices of raw materials, the exchange rate fluctuations, and the soaring logistics costs, merchants on Yiwugo remain confident about this year’s foreign trade climate and have made full preparations for all sorts of emergency. As a key cross-border e-commerce platform in Yiwu, Yiwugo also serves as an inevitable option and strong support for the local merchants to deal with all these uncertainties.