Commodities from Yiwu reach big markets as Paris Olympics nears

Dealers and tourists come to buy commodities at the Yiwu International Trade Market in Yiwu city, east China's Zhejiang Province. (Photo/cpanet.cn)

As the Paris Olympics approaches, Yiwu city, known as the "world's supermarket" in east China's Zhejiang Province, has received a large number of orders related to the Games.

Inside the Yiwu International Trade Market in Yiwu city, a wide variety of sports goods and Olympic merchandise are available. The city has seized on business opportunities brought by major international sports events, opening up a vast market while showcasing the vitality of China's development.

Yiwu Customs records show that the export value of sports equipment and goods in Yiwu reached 4.1 billion yuan ($564.2 million) in the first five months of this year, a year-on-year increase of 44.4 percent. The export value of sports goods to France grew significantly.

A shop in the Yiwu International Trade Market displays silicone wristbands with the Paris Olympics logo.

A shop owner shows silicone bracelets with the logo of the Paris Olympics at the Yiwu International Trade Market in Yiwu city, east China's Zhejiang Province. (People's Daily/Wu Fengyu)

"This wristband is produced by the factory with official authorization," said a merchant named Lin Daolai. Last October, his company won the bid and received an order to produce 1 million Olympic wristbands. After several months of production, the first batch of wristbands has arrived in Paris, and the second batch has also been shipped. "These 1 million Olympic wristbands have increased our annual sales by 30 percent," said Lin.

Wang Qiang, president of the Yiwu Sports and Fitness Supplies Industry Association, said that the association quickly prepared for the Paris Olympics by gathering companies and merchants to discuss marketing strategies and optimize the supply chain system.

"In the first quarter, the industry's overall sales increased by 30 to 35 percent compared to the same period last year. Yiwu is capable of providing abundant supplies for the Paris Olympics, as orders continue to pour in," said Wang.

The thriving sporting events economy has injected new momentum into Yiwu's development. In addition to the Paris Olympics, the UEFA European Championship and the Copa America this summer have also presented business opportunities for merchants in Yiwu.

A foreign merchant chooses sports goods at the Yiwu International Trade Market in Yiwu city, east China's Zhejiang Province. (Photo/Hu Xiaofei)

After supplying multiple major international sports events, Yiwu has gained the favor of international buyers. The Yiwu International Trade Market, with its 75,000 booths and over 2.1 million products in 26 categories, is now exporting to more than 230 countries and regions worldwide. Yiwu has proven that small commodities can thrive in a large market.

The 2022 FIFA World Cup in Qatar sparked a sales frenzy among merchants in Yiwu.

"We sold nearly 2 million jerseys in 2022, doubling our revenue compared to 2021," said Wen Congjian, a merchant in the Yiwu International Trade Market.

Workers rush to meet foreign trade orders at a factory in Yiwu city, east China's Zhejiang Province. (Photo/Wu Fengyu)

The production and sales of merchandise like vuvuzela horns and keychains also saw significant growth.

To ensure the smooth delivery, Yiwu opened a dedicated shipping route, allowing products to reach Qatar's Hamad Port in just over 20 days.

To stay ahead in the market, merchants in Yiwu are placing greater emphasis on product innovation, offering unique designs and exceptional quality. Olympic orders cover various categories, including sports goods, souvenirs, catering supplies, and hotel supplies.