From street stalls to live streaming rooms, Yiwu small commodities never sleep.

When live-streaming e-commerce became a trend, small commodity merchants in Yiwu once again began mining new wealth opportunities here. Low prices remain the core logic of Yiwu's small commodities in live-streaming e-commerce, but to achieve "explosive orders," they cannot rely solely on low prices.

Author｜An Xin

Editor｜Xiao Qing

A pancake vendor at a night market can fluently communicate with Arab customers; a truck driver with only a middle school education can converse effortlessly in English with foreigners; even the aunties at the wet market can name dozens of vegetables in foreign languages.

Walking down the streets, you’ll see foreigners of all skin colors everywhere and taste global delicacies like Turkish kebabs, Korean cuisine, and Indian flying pancakes.

Yes, this place is highly internationalized. But don’t be mistaken—this isn’t Beijing, Shanghai, Guangzhou, or Shenzhen, nor is it Hong Kong, Macau, New York, or Paris. This is Yiwu, a county-level city in south-central Zhejiang.

Image source: Internet

Compared to the glamour and prosperity of other international metropolises, Yiwu appears as inconspicuous as its signature industry—small commodities.

Yet this mountainous, barren county-level city now boasts the highest per capita disposable income among China’s county-level cities. With a population of less than 2 million, its GDP surpassed 200 billion yuan for the first time in 2023.

Dubbed the "World’s Supermarket," Yiwu trades with over 230 countries and regions, attracting over 560,000 foreign buyers annually. Yiwu’s small commodities serve as the "barometer" of global small trade and economic trends.

Yiwu’s unassuming appearance belies its pragmatic, down-to-earth ethos. Wherever there’s a business opportunity, Yiwu’s small commodities are sure to appear.

Recently, Yiwu trended again on Weibo. According to CCTV Finance, with the Paris Olympics approaching, Yiwu merchants have received a flood of Olympic-related orders, leading to another wave of "explosive orders."

Customs data shows that from January to February this year, Yiwu’s exports to France reached 540 million yuan, up 42% year-on-year, with sports goods exports surging 70.5%.

Shortly after the UN officially designated the Spring Festival as a holiday, Yiwu’s entrepreneurs seized the opportunity. From New Year paintings and couplets to festive decorations, a variety of Lunar New Year-themed products were quickly designed, produced, and sold globally via cross-border e-commerce.

Domestically, Yiwu’s small commodities strive not to miss any consumer trend. When Liu Genghong’s workout videos went viral on Douyin, indoor fitness equipment from Yiwu quickly hit the shelves. When "glamping" became popular, Yiwu’s camping gear was everywhere.

On short-video platforms and live streams, many of the small items solving everyday life problems come from Yiwu. According to Douyin E-commerce, in 2023, merchants in Jinhua, Zhejiang, saw a 108% sales growth, with a 111% year-on-year increase in Q1 2024. Yiwu’s small commodity market stood out, with fashion accessories (up 97%) and storage products (up 146%) leading sales.

"Trading chicken feathers for candy" once epitomized Yiwu’s merchants. Decades ago, Yiwu’s peddlers roamed the streets with rattle-drums, bartering brown sugar for chicken feathers to make dusters. Later, they set up simple stalls, gradually forming the small commodity market.

Over 40 years of reform and opening-up, Yiwu’s market has evolved into an international hub teeming with merchants. Like a perpetual motion machine, Yiwu tirelessly keeps pace with the times.

To many, Yiwu is a land of wealth creation. Waves of young people flock here to seek fortunes. Now, with live-streaming e-commerce on the rise, they’re uncovering new wealth codes.

Finding New Possibilities

Zhang Wenjia appears mature beyond his years. Born in 1992, he’s the founder of Jingyu Accessories, specializing in hair accessories with annual sales exceeding 30 million yuan across platforms like Douyin E-commerce.

A hair clip in Jingyu Accessories’ warehouse

Zhang claims he started hustling at 17, "traveling all over China." A native of Jiangxi, he once ran a pastry business in Henan but sought greater opportunities.

His fate changed in 2017 when he invested 100,000 yuan to open a factory in Yiwu, producing hair accessories initially for relatives and later for wholesale buyers at Yiwu’s market.

To attract clients, Zhang undercut competitors by 0.5 yuan per item. But with over 3,000 accessory factories in Yiwu, how could he stand out?

He pivoted to retail, running an online store solo—managing the factory by day and the store by night, handling everything from packing to customer service. Working until 3-4 AM became routine as he taught himself e-commerce operations.

By mid-2018, Jingyu Accessories hit its first "explosive orders," with daily sales peaking at 60,000-70,000 orders (≈500,000 yuan), sustaining for nearly a year.

But in 2023, sales slumped to a few thousand orders daily, leaving 5 million yuan worth of unsold inventory. Zhang nearly resorted to layoffs.

Then, on October 4, 2023, a turnaround: 10,000 orders in a day on Douyin Mall. Sales rebounded to 20,000-30,000 orders daily.

In September 2023, Zhang went all-in on Douyin E-commerce, launching 70 stores simultaneously. With a matrix strategy, 1,000+ daily product listings, and low prices, Jingyu became a top hair accessory seller on the platform.

Jingyu employees packing orders

Jingyu rode Douyin Mall’s 277% GMV growth wave in 2023. Zhang, now battle-hardened, believes opportunities are fair but only seized by the relentless.

11 km away at Yiwun Yunqi E-commerce Park, four young founders of Yishi Yiju are also "turning the gears of fate" for new possibilities.

Yishi Yiju’s warehouse-office hybrid

Launched in 2023, Yishi Yiju sells storage products via Douyin’s affiliate program with influencers, moving 400,000+ orders in its first year.

Founder Li Zhao, a post-00s, left a well-paid procurement job in Shandong to bet on live-streaming e-commerce. Teaming up with two college roommates and a former colleague, they started in Shandong but soon faced pitfalls.

In 2023, a mislabeled "insulated" water jug led to 70-80% returns, leaving a wall of unsellable inventory. By mid-2023, salaries were nearly unpaid.

Remote operations in Shandong meant high logistics costs (3.5 yuan/order, 50-hour delivery). In 2024, they relocated to Yiwu, slashing costs to 1.6 yuan/order and delivery times to under 38 hours.

Now working 12+ hours daily, Li is motivated by their 6-7 million yuan 2023 sales and a 2024 target of 10 million yuan.

When "Ant Merchants" Enter Live Commerce

Selling 100 toothpicks earns 0.01 yuan; 2 sewing needles, 0.01 yuan; a straw’s profit is 0.008-0.0085 yuan.

Such micro-margin businesses thrive in Yiwu. A toothpick wholesaler moving 10 tons daily nets 10,000 yuan; a needle seller earns 800,000 yuan annually. "Twins" straws dominate globally with 2.6 billion yuan revenue.

These "ant merchants" embody Yiwu’s spirit: "No profit is too small."

Jingyu’s Zhang and Yishi Yiju’s Li inherit this ethos. Jingyu’s 5-yuan products yield <10% margins; Yishi Yiju’s 9.9-19.9 yuan items, ~10%.

A claw clip sold by Jingyu Accessories

"Low price" and "volume" dominate their strategies—"thin profits, high turnover."

A sun hat sold by Yishi Yiju

Jingyu’s in-house and partner factories enable aggressive pricing. Zhang bulk-orders 10,000 units if a product shows promise, ensuring supply and cost efficiency.

But success in live commerce requires more than low prices: product quality, traffic, and service matter.

Zhang screens 100 new accessory designs monthly, culling defects. Li tailors products to influencers’ audiences, adding packaging for better unboxing.

To harness Douyin’s traffic, Jingyu’s 70-store matrix leverages free "product card" exposure. Yishi Yiju collaborates with hundreds of influencers, with two founders dedicated to partnerships.

Service is critical. Jingyu mandates instant customer service responses; Zhang personally audits response times. Yishi Yiju hired a Shandong-based 客服。

Zhang prioritizes scale over refund disputes: "Big picture matters."

New Challenges for Yiwu’s Small Commodities

How vibrant is Yiwu’s market?

On April 16, operator Yiwu China Commodities City (600415) announced its first rent hike in a decade—5.5% on average, with ≥5% annual increases for three years. Amid a property downturn, this signals strong demand.

In 2023, Yiwu’s imports/exports hit 566.05 billion yuan (+18.2%), with exports exceeding 500 billion yuan for the first time (+16%). Jan-Feb 2024 trade surged 47.3% to 116.6 billion yuan.

Fashion accessories, a Yiwu pillar, dominate 2/3 of China’s market and 40% globally. But challenges loom.

With 8,000+ accessory firms (3,000+ factories), Yiwu’s landscape is fragmented—small-scale, low-end, brand-light. Export reliance (60-70%, notably India/U.S.) faces geopolitical risks.

Even top players like Jingyu lack design innovation and branding. Zhang plans upgrades and live-streaming expansion.

Live commerce fuels growth. Douyin data ranks Jinhua (Yiwu) #1 in merchant growth and sales among industrial belts, with accessories #2 in popularity.

Douyin E-commerce pledges enhanced support for Yiwu merchants through policies and events, optimizing platform services.

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