YIWU, China, April 20, 2015 /PRNewswire/ -- Yiwugou.com, the official website of Yiwu Commodity Market, which is the largest commodity wholesale market in the world, launched a new strategy, entitled "Honest Brands," during the 2015 World E-commerce Conference. Furthermore, Yiwugou.com aims to build a brand incubator for the "Made in China" label and establish a green ecological circle covering both e-commerce and e-finance.
Being accepted as an "Honest Brand" by Yiwugou.com is not easy. First, suppliers are required to possess a registered brand. Second, they must run their business in the pattern of "having shops in front and factories behind." Third, these suppliers need to be developed into a certain production scale. Thus, the suppliers short-listed as "Honest Brands" are capable of providing good pre-sale, sale and after-sale services for buyers worldwide.
Miss Wang Jianxia, an insole supplier on Yiwugou.com since 2013, has four offline shops in the Yiwu Commodity Market. So far, the online transaction volume of her shops has accounted for 50% of her total turnover. However, with the expanding of the business, it is apparent that Miss Wang faces the challenge of promoting the brand while the ROI is extremely low. Similarly, there are too many suppliers to select from in the Yiwu Commodity Market for buyers from different countries. The "Honest Brands" label has emerged in response to the needs of the times.
The first 500 short-listed "Honest Brands" will become the key suppliers on Yiwugou.com who are provided with one-stop service of brand promotion and channel development. Moreover, Zhejiang China Commodities City Group Co., Ltd., which is the parent company of Yiwugou.com, will provide preferential financial services for the "Honest Brands" via its own credit company, consumer finance company and other financial supports.
Chairman of Zhejiang China Commodities City Group Co., Ltd., Mr. Jin Fangping, said, "The unique model of 'E-commerce + Offline shops + Integrity Protection' forms Yiwugou.com's green ecological circle, and the 'Honest Brands' label is the important link of this circle."
Mr. Wang Jianjun, CEO of Yiwugou.com, highlighted, "Promotion resources from Yiwugou.com will assist our 'Honest Brands' suppliers in building more specific branding and marketing channels, including showrooms spanning all regions of the globe and online marketing. Meanwhile, the 'Honest Brands' label will be a competitive advantage through expanding brand awareness."