Yiwu, known as "world supermarket" under the epidemic situation, is stabilizing foreign trade, expanding domestic sales, boosting market confidence, and promoting market prosperity through new economic patterns, including streaming, electronic commerce, content-based short videos and supply chains.

Xiazhu Village, Jiangbei, Futian Street, known as the "first village of social influencer marketing" within the industry, has attracted groups of "gold-seekers" one after another.

Statistics show that there have been more than 1,000 social e-commerce brands, over 4,500 licensed market entities, over 30 outlets of express enterprises, and more than 30 domestic and foreign famous brands.

As per a survey, people embarking on streaming in Xiazhu Village, Jiangbei Village are approximately 26 years old on average, particularly those born after the 1990s. They create business legends in Xiazhu Village, Jiangbei, and surrounding areas, where daily new retail orders amount to RMB600,000 on average, and the annual transaction amount nearly reaches RMB10 billion.

Encouraging and guiding market entities to directly or indirectly sell via streaming is favorable for exploring new approaches to market transformation. On one hand, organize ideological training so that business entities can fully understand the positive effects of streaming economy upon commodity sales; on the other hand, conduct professional skills training to improve business entities’ streaming and marketing abilities.

The powerful guarantee of goods supply and ultra-low logistics costs in Yiwu markets are important contributors to the rising of the streaming economy in Xiazhu Village, Jiangbei.

"COVID-19 has imposed tremendous impacts on traditional business models. Under the condition that the rigid demands for commodities are generally stable, online orders don’t decline, but increase," reported by Ding Xingjuan, the Chairman of the Yiwu Chamber of Commerce of Jewelry and Ornaments. These years, the "cumulative effects" created by a combination of internet celebrities' anchoring and streaming have rapidly infiltrated into Yiwu markets. China Commodity City grabbed the chance of transformation under the crisis of COVID-19 and organized professional forces of new economic patterns to enter the commodity city. By integrating Yiwu markets’ strengths in goods supply with business patterns and channels in a seamless manner, it has not only brought new resources and orders but also introduced a group of vital forces for market revival and prosperity.  

(Compiled by Ye Ke)