Where is the world’s largest wholesale market located? When did wholesale trade begin? In which Polish city was one of the largest conferences on the global wholesale market held? Learn 5 interesting facts about wholesaling.
What is the largest wholesaler in the world?
Located in China, Yiwu International Trade Market is the largest wholesale market in the world. It houses more than 70,000 posts and is open almost year-round. Yiwu International Trade Market measures as much as 7 kilometers in length and you can find just about anything.
When did the first wholesalers start operating?
Some scientists believe that the beginning of wholesale trade took place as early as several thousand years ago. In other words, wholesale sales began at virtually the same time as retail sales.
How has globalization affected the wholesale market?
The impact of globalization on every industry is significant, and in the case of retail, it is even enormous. Today, the location of a wholesale business no longer matters as much as it once did. In the past, wholesalers conducted their business where there was no shortage of retailers, to whom they could thus deliver goods in a short time. Today, wholesaling is often based on contacts between parties living in different countries and even distant continents.
Does wholesale also apply to services?
Wholesale trade is mainly associated with gigantic quantities of goods that are bought for resale. Interestingly, wholesale trade on a large scale also applies to non-tangible services, i.e. those related to finance, for example. For banks, wholesaling consists of transactions (such as pension fund deals) with large institutional clients and corporations.
Where in Poland did one of the major wholesale conferences take place?
In 2016, a conference of the World Association of Wholesale Markets was organized in Lublin. Leading representatives of this market from more than 30 countries then discussed the prospects for further development of wholesale trade.