On the eve of the “reform and opening up” in 1978, 18 farmers in Xiaogang Village, Fengyang, Anhui Province, pressed their finger print and created the first “household contract responsibility system”, which opened a new situation for the subsequent agricultural production increase and farmers’ income increase.
Four years later, in 1982, Yiwu, which was short of natural resources, had little land and many people, and was not suitable for farming, could no longer afford to wait. The leading group of the county party committee at that time carried forward Yiwu’s century old business culture of “chicken feathers for sugar”, creatively put forward the development strategy of “prospering business and building a county”, and established the earliest small business trading and circulation market.
It took several generations to transform Yiwu from a “street market” to a “world supermarket” in 40 years. After “six relocations and ten expansions”, Yiwu has developed from the original small county into an international “oriental mysterious city”, representing a backbone of “Made in China” in the global market. In addition, Yiwu has become a “battleground” for Alibaba, JD, Pinduoduo and other e-commerce giants. However, challenges and changes have always been the main theme of Yiwu’s market development.
A boss who has been in business in Yiwu for more than 30 years is outspoken. After the baptism of the Internet, digital economy has become the mainstream, and the traditional trade circulation mode has changed: the evolution of quality and brand, disintermediated transactions, the construction of an integrated digital supply chain, and the transformation of the consumption concept of Generation Z
These market changes will be transmitted to Yiwu’s “one plate of goods”. Yiwu goods, to a large extent, make people love and hate, love is low prices, rich categories, everything; I hate that the quality is uneven. It is not easy to find good goods quickly and accurately in the big market. As well as the sudden changes in the macro environment at home and abroad, Yiwu products labeled as “low quality, low price and low technology” are facing more intense market challenges
Post time: Oct-22-2022