China Underground > China Finance > Contributing to the Brand Development of China’s Commodities, Yiwugo.com Held the 8th Top 10 Vendors Award Ceremony

Contributing to the Brand Development of China’s Commodities, Yiwugo.com Held the 8th Top 10 Vendors Award Ceremony

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Yiwugo.com, the official website of the Yiwu Commodity Market, which is the largest commodity wholesale market in the world, held the 2019 Yiwugo Top 10 Vendors Award Ceremony on the evening of January 13 at Hall E1, Yiwu International Expo Center.

Ten enterprises including Hailing GEMEI Small Home Appliance Firm, Nicole Jewelry, Guizhen Silk Flower Accessory Firm, Chaoling Cultural and Educational Supplies Firm, Zongxin Canvas Shoes, BAOLA, Dingxin Thread Firm, Yiwu Meishi Cosmetic Firm, Shenzhen Weibo Electric Technology Co., Ltd. and Shifeng Socks Firm won the honorary title of “2019 Yiwugo Top 10 Vendors” and received their trophies. 2,000 people participated in the award ceremony.

In recent years, upgrading “Made in China” through branding has become a key development strategy for China’s manufacturing industry. For tens of thousands of commodity suppliers on Yiwugo, improving product quality and creating their own brands may not only create value for consumers, but also greatly speed up their transformation and upgrading. To help commodity suppliers in Yiwu market to create their own brands, Yiwugo launched the “Top 10 Vendors” contest. The event, which has been successfully held for the 8th consecutive year, has played an effective role in mobilizing vendors’ awareness of promoting their own brands. Through brand development, vendors in Yiwu market pursue high-quality development by high standards and continuously promote product upgrading.

Cai Zhenghao, owner of Hailing GEMEI and top winner of the contest, founded this brand in 2007. Up to now, GEMEI has established a stable product distribution network covering dozens of European countries. GEMEI’s product design can be customized according to customers’ needs. Cai Zhenghao said that by winning the title of “Yiwugo Top 10 Vendors”, GEMEI has represented quality products in Yiwu market and gained the world’s recognition, which reflects the maximum value of a brand. Xu Jiawei, founder of Nicole Jewelry, said, “While creating their own brands, small and medium-sized enterprises will inevitably encounter difficulties such as insufficient resources and lack of talents. Therefore, our approach is to join large platforms wherever possible. For example, our participation in the ‘Yiwugo Top 10 Vendors’ contest and tying our brand with Yiwugo has been an attempt to ‘throw out a minnow to catch a whale’ and this would often lead to good results.” In addition, Xu Jiawei attaches great importance to product innovation. Product innovation serves as the foundation for branding. Customers’ favorable impression of a brand is eventually derived from the high-quality products.

At present, most of the small- and medium-sized enterprises with independent brands in Yiwu market focus on in-depth cultivation and development under a certain category of commodities. For example, Guizhen Silk Flower Accessory Firm focuses on the development and production of various kinds of ribbons, and has developed thousands of ribbon products. This kind of focus may ensure the good quality and rapid iteration of products in Yiwu market, but “flighting alone” can hardly capture enough attention in brand promotion. In response to this situation, the “Yiwugo Top 10 Vendors” contest breaks down the participating enterprises into specific industries according to the 16 categories specified in the Specific Commodity Classification and Codes issued by the Ministry of Commerce, and selects outstanding vendor representatives in each industry. Yiwugo “Top 10 Vendors” Contest has served as a platform on which the enterprises operating different categories of commodities may display their products together. As such, they can benefit from the “aggregation effect”, thereby attracting more attention and achieving good promotional effect.

SOURCE Yiwugo

 


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