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  • Good Sales Trend of Hardware Industry in Yiwu Market

  • Source:Yiwu · China Commodity Index Author:Yiwu · China Commodity Index 2021-01-07
  • The hardware industry of Yiwu Market is mainly located on 2F, District II in the International Trade Mart, with overall 1,871 firms and 2,347 business entities available at present. Products of the industry boasts of complete categories, thus making them competitive in the market. Products of many famous brands at home and abroad. 90% of the products in the industry are exported to Southeast Asia, the Middle East, Africa, Europe and the United States, etc.
    The foreign trade of hardware industry achieved recovery in general. Products such as multi-functional wrench, rubber-handle nail hammer, hexagon wrench, temperature-adjustable electric soldering iron were sold well in European and African markets. At present, most of the transactions are completed by means of telephone orders from old customers, or through agents of foreign trade companies. Hardware tool sets, especially household hardware tool sets, are favored by foreign merchants. Besides, the sales volume of electric tool products, such as electric drill, electric saw, electric hedge machine, etc., are also quite satisfactory. They are mainly exported to Kenya, South Africa and other countries.
     
    Elements such as quality and brand have gradually become the core competitiveness of products. With the aggravation of competition, the profit margin of each stage in the hardware industry chain is being compressed, leaving less and less space for price cuts. More and more enterprises have realized that they can not only rely on price competition to establish their core competitiveness, as it is not conducive to the long-term development of enterprises. As a result, they began to explore a new way of development. Many enterprises have increased their investment in technology, improved products quality, and seek for brand development on the basis of “professional, precise, characteristic and innovative”, thus catch the eyes of consumers.