"Christmas products have seen a significant price increase, with some items rising by around 10%. For instance, small pendants that used to cost less than 10 yuan now go for over 1 yuan each," said Wang Jing, a purchasing agent from Yiwu, who shared with reporters that he has been receiving multiple orders from Hangzhou in recent weeks. These orders are for Christmas gifts and decorations, specifically targeted at real estate companies, hotels, and other businesses. In November, Hangzhou made a shift in its procurement strategy, starting to buy Christmas items earlier than usual.
Mr. Deng, a manufacturer based in the region, mentioned that the rise in wholesale prices in the domestic market actually began last year. This year’s economic conditions have been favorable, which has further supported the price hikes. He added that employees’ monthly salaries have increased by between 100 and 300 yuan, but hiring remains difficult in Yiwu. Additionally, rising costs of raw materials and expenses related to new product development have put more pressure on manufacturers, making this year’s price increase a necessary move rather than just a temporary adjustment.
With the growing demand for festive goods and the ongoing cost pressures, it's clear that the Christmas season is shaping up to be an important period for both buyers and sellers in the industry.
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