By Sheena on September 18,2016

Yiwu Suitcase and Bag Market

 

<a href=Yiwu Bag Market" style="cursor:pointer" onclick="window.open('/uploads/allimg/160918/1203_160918163450_1.png')" />

 The Summer vacation has come and gone. With the back-to-school period fading away, Yiwu suitcase market resumed back to its normal state after a small sales surge upon the arrival of school season. Overall speaking, Yiwu suitcase market is featured of low profit and less technologically involved. The industry faces many a challenges. A part of suitcase suppliers who used to engage in international trade are thinking about stepping back into the domestic market. They are trying many ways out and seeking to find a successful transition way. 

 
International market is shrinking
Currently, suitcase market is of too much supply, and counterparts are getting stuck in the vicious price circle. The whole industry is experiencing profit as thin as blade. Suitcase is concentrated on the Yiwu International Trade City, district 2. It contains a wide variety of suitcase species, and each supplier is focused on different niche. However, for a long time, many suppliers have been depending too much on the overseas market. Thus, under the global economic downward tendency, those suppliers are kind of stressed. 
 
In the massive innovation environment, many suppliers started to try out upgrading and transition ways. Ji Jianwei, came to Yiwu to do business 6 years ago with his family. At the beginning of this year, he started to rethink about his product’s focus from overseas market to domestic market. “Few months earlier, I had withdrawn several types of fashion bags, and started to put canvas bags on shelf instead.” Ji said. It’s not an easy task to do the domestic market. “A customer ordered 600 satin bags,but a week later, he claimed for returning back all bags.” The complaint reason was a minor color difference and uneven needle space. Ji was surprised to that, because in the international trade, he never encountered a full return for a minor color difference. Now he realized that domestic customers are more strict on the quality. From then on, Ji continued to improve his product’s quality, and hoped to get domestic purchasers’ approval. 
 
In order to enhance market competition capability, a lot of suppliers are passionate on innovation and have made a lot on designing new styles. Zhang Xiqoun owns a suitcase factory and takes the price as his advantage. In Sept., 2014, with a low price, Zhang won a contract of 140,000 bags. “We are responsible for sampling and production, and the design is on the purchaser’s side.” but, the cooperation was just a one-shot deal. However, gradually, he found that a lower price couldn’t bring back regular orders. He thought the main weakness was the lacking of designing and innovation. For a common supplier, it’s very expensive to create a new design and what’s worse, chances are the new design can’t be received by the market. Thus, many suppliers are prone to customizing or OEM mode.
 
“Cutting off the designing strength, it seems harder to keep regular customers.” Zhang said. Now he is fond of reviewing fashion magazines, and following closely with the latest suitcase fashion. “For the same canvas bag, this year is slightly different with last year. Our customers feedback was to change the zipper into button. And it turned out that the latter one enjoyed more popularity.” This minor innovation helped Zhang made a great success this year.
 

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