Yiwu’s Small Commodities in the Olympic Playground

If there’s one place outside of France where the Olympic buzz is equally palpable, it’s likely to be Yiwu, Zhejiang Province, in east China.

Known as the global capital of small commodities, Yiwu has become a main supplier of many of the items at major sports events worldwide. In Yiwu’s markets, astute merchants, keenly attuned to the rhythms of global sports mega-events, sprang into action well ahead of time, ready to meet the soaring demand for everything from sportswear and souvenirs to the disposable cups used in stadiums…

Prepared for action

Lin Daolai, a merchant operating within Yiwu International Trade City (YITC)—China’s largest wholesale market complex for small commodities—received an order last October for 1 million licensed Olympic bracelets. “We commenced production last December and managed to air-ship the first batch of 500,000 bracelets in February,” he told China News Service. “The remaining 500,000 were dispatched before May.”

Beyond bracelets, data from the Paris Olympic Organizing Committee indicates that 80 percent of the products based on the mascots for this year’s Olympics are manufactured in China, with some being produced right in Yiwu.

However, licensed merchandise represents just a fraction of Yiwu’s bustling sports event-related trade activities. One unnamed importer and exporter in Yiwu told China Newsweek that the majority of Yiwu merchants thrive on the demand for event-related peripheral products, such as cheering sticks, decorations, and toys.

Within the expanse of YITC, over 800 businesses are dedicated to sporting goods and equipment, catering to both domestic and international sporting events. Recent statistics from Yiwu Customs reveal that in the first four months of this year, the value of exports of sporting goods and equipment from Yiwu surged to 3.1 billion yuan ($427 million), a 45.6-percent increase year on year. Notably, exports of sporting goods to France have risen by 70.5 percent year on year.

Since March, a considerable influx of international merchants has been observed at YITC, engaging in bulk purchases of jerseys, soccer balls, swimming goggles and other sports-related products. Given the two-month sea shipping time from Yiwu to France, the window for peak purchases has now concluded as the commencement of the Olympic Games approaches.

Wen Congjian, a merchant specializing in jerseys, noted a substantial uptick in orders preceding major international sports events. “This year has been exceptionally busy with the UEFA Euro 2024 and Copa América soccer tournaments and the Olympics lined up one after another,” he told Zhejiang Daily. “We’ve been in continuous operation since March and will maintain this pace until July.”

For the upcoming Paris Olympics, Wen has designed cheerleading uniforms for supporters of the French team, incorporating a deep blue color palette with accents of the French flag adorning the cuffs and collar. Given that France is the host nation, these cheering outfits have surged in popularity and demand.

“We’ve already dispatched the bulk of the ordered products via sea freight. Currently, new orders are usually urgent requests, for which we will expedite the delivery through air shipping,” he said, adding that it is the final stage to fulfil orders related to the 2024 Paris Olympics.

Expanding horizons

The vibrant atmosphere in Yiwu extends beyond the realm of sporting goods. Guo Huiping, a seasoned merchant in Yiwu, specializing in event peripherals with a focus on exports, has introduced a new product this year to cater to the robust demand for cheering accessories—a flashing stick adorned in the colors of the French flag designed to last 10 hours.

During this bustling period ahead of the Paris Olympics, Guo’s store has seen a steady flow of long-standing clients from Asia and Europe, who often place substantial orders ranging from thousands to tens of thousands for these flashing sticks, as well as butterfly headbands and clips, and other event-themed products.

“Since the beginning of the year, we’ve been inundated with Olympics-related overseas orders,” she told Zhejiang Daily. In May, she welcomed three to five groups of international merchants daily, with more high-profile clients scheduled for upcoming visits.

Zhou Tingting, another dynamic merchant in the area, has been designing new Olympics-themed peripherals since last year. A particular hat designed by her team, inspired by the Gallic rooster and featuring the French tricolor has gained notable popularity among her clientele.

Liu Ruqun, who runs a jewelry store in Yiwu, has launched a captivating French series of earrings, skillfully integrating the red, white and blue hues of the French flag into her designs. This series boasts over a dozen distinct styles.

“We initially approached this as a trial, producing only a few hundred pairs per design. However, they sold out rapidly, prompting a wave of repeat orders,” Liu told Zhejiang Daily. With 24 years in the jewelry trade, traditionally focusing on vintage and China chic styles, she has this year broadened her offerings to include designs inspired by the Olympics, attracting European clients and a growing number of domestic buyers.

With the approaching of the Olympic Games, Liu anticipates an even more pronounced increase in orders. “We are continuously working on designing more jewelry pieces that incorporate Olympic themes, aiming to capitalize on the domestic market during the games,” she said.

Lao Guoling, Director of the E-commerce Research Center at the Shanghai University of Finance and Economics, sees vast potential in expanding the range of peripheral products beyond traditional offerings.

“The 2024 Paris Olympics will feature four new sports: breakdancing, skateboarding, sport climbing and surfing,” she told China Central Television, claiming that these sports, immensely popular among young people, open up extensive opportunities for innovation in peripheral products, extending beyond mere trophies and medals to include apparel, equipment and venue-related items.

Lao advises merchants in the small commodities sector to broaden their perspectives, explore new opportunities and focus on building brands rather than merely producing bulk products quickly. “This strategic shift could position them to better capitalize on the evolving demands of global markets,” she said.