Orders surge at China's small commodity hub as Paris Olympics approaches
(ECNS) -- Orders are surging and factories are rushing to produce goods in Yiwu city, China's small-commodity hub, as the 2024 Paris Olympics is around the corner.
The city in East China's Zhejiang province is often referred to as "the world's supermarket," as it has an abundant variety of commodities, convenient and fast logistics, and a good business environment.
Chen Xianchun, whose shop specializes in trophies and medals, said since the beginning of the year 2024, they have been receiving orders from Europe, with many buyers from France, Germany, and the UK. “The total order number of medals and trophies reaches approximately 100,000," he said.
"To Seize the opportunity brought by the Paris Olympics, we have adjusted the color of the trophies to a light gold, which European customers prefer. The ribbons on the trophies also apply the same blue, white, and red colors as the French flag, and the sales are doing very well," Chen said.
"The sports goods industry is like a 'weebles' industry, with very evident cyclical purchasing patterns among customers, typically stimulated by the hosting of major sport events," said Wang Qiang, president of the Yiwu Sports and Fitness Supplies Industry Association.
He mentioned that local merchants have a very keen sense of business opportunities. For instance, many merchants started connecting with local buyers, stockign up on raw materials, and designing new products as early as a year ago for the Paris Olympics.
According to Yiwu Customs, from January to February this year, the city’s export to France reached 540 million yuan (about $74.6 million), a year-on-year increase of 42 percent. Among them, the export of sports goods increased by 70.5 percent compared to the same period last year.
