Online sales climbed 24% year over year, while Best Buy’s overall sales were flat.
The wholesaler of a wide array of products ranging from apparel to toys to restaurant supplies, has launched a wholesale e-commerce site for Hungary at hu.yiwubuy.com.
China-based Yiwubuy, which calls itself “the world’s biggest small-commodity market,” added to its global reach with a wholesale e-commerce site for Hungary, according a release issued by Xinhua, the Chinese government’s news agency.
Wang Jianjum, general manager of Yiwubuy, says the Chinese wholesale company is working to set up local business partners in Hungary to handle such services as order confirmation, payment transactions, product inspection and clearance through customs.
The Hungary site, at hu.yiwubuy.com, allows visitors to view content in three languages—Hungarian, Chinese and English.
Yiwubuy, located along the coast of the East China Sea in the province of Zhejiang, handles online transactions for some 70,000 wholesale shops. It is operated by Yiwu China Commodities City Information Technology Co. Ltd.
Yiwubuy, which says it charges no fees to buyers or sellers, also features e-commerce sites for Australia, Russia, Japan, Poland, Kazakhstan, Belarus and the City of New York. The company did not immediately return a request for information on how it earns revenue.
For a free subscription to B2Bec News, click here.