Guangzhou is the watch wholesale center in China. And these wholesale markets mainly locate in ZHAN XI Road.
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The watch wholesale industry here started in 1987, and now there are 9 buildings with 2000+ shops doing this business every day on this street.
Representative watch wholesale market: ZHAN XI Watch market
Representative watch wholesale market: South Watch Center
As these markets are on the same street, the features for them are very similar, but new markets such as South Watch center is more modern and you’ll feel more comfortable while purchasing there.
1. Three things to look out for when buying watches in Guangzhou wholesale market.
1) Prices vary little among sellers of the watch wholesale market.Because business for watch wholesale market is on descending trends, and lots of the shops offer low-profit price to win the order. So the general adjustment is 2%-3%, and at most 5%. If you go into the market and ask for a 20% discount, they will know you are new for the market and may quote a high price for you to bargain.
2) Try to maintain a good relationship with the shop owner.Since the watch is a fashion business nowadays, they will prefer to show you their latest items, which can help you sell the new model earlier than your competitor in the market and gain more profit.
3) Don’t check your products slowly in the watch wholesale store.In most cases, just make sure the quality is ok. You can set a timeline with the shop owner if they will replace the product if there is any problem found within 3-5 days, and make it in writing in the receipt. If you insist on taking a long time to check everything and confirming all is ok in the shop, the shop owner will think you are a troublesome customer and may not want to deal with you in the future again.
2. Why does the seller ask me if I want to buy ROLEX for USD 100?
Lots of street sellers promote their branded watches, especially when you are a foreigner in the market.
In the past, ZHAN XI watch market is also the largest market for Replica (fake) watches. You can find all the big brands, such as Rolex, IWC, Omega, Patek Philippe, etc., in the market, sold at only hundreds of USD. The foreign tourist loves to be here, as the quality of Replica is very high and it is hard to tell the difference if you are not an expert.
The Chinese government has put in lots of effort to strike the Replica watches to protect the lawful right; now the Replica is rarer in the market. Now the Replica factories solely focus on high-grade Replica and sell via safer channels, not in the market.
The current quality of replica in the wholesale market is not as good as before, most of them are for cheating the foreigner, as they know you will go back home soon and nobody will like to be in trouble only for a replica watch.
Therefore, we suggest not to touch the replica watch business, especially you are not familiar with the market. Do not be blinded by the incredible profits.
3. What is the best price range in the watch wholesale market?
Let’s start from the supplier chain perspective for you to better understand how this business is running now in Guangzhou. As the watch is a complex product, most of the factory only focus on doing one part of it, for example, one factory focuses on glass, one factory focuses on clock plate, etc.,
So below are some tips for helping you to choose the right supplier in the wholesale market:
1) Disregard those who sell watches with a wide price range.
For example, their quote is from RMB 10-200, which means their supply sources are not so concentrated, so their MOQ is relatively smaller then their price for you is less competitive.
Find those shops who’s got a smaller price range such as from RMB 10-50 if you are looking for low-end products.
2) Deal with the shops who can provide you high-resolution photos of the product.
In addition to cost savings, but if the shop can offer you such photos, which means their source factory values on this field, and those factories values on Digital support will have the more sensitive sense to up-trends of the new styles, while new models are the key to gain a higher margin.
3) What is the best selling price range in the watch wholesale market in Guangzhou?
Watch price ranged at RMB 15-60 for low to medium fashion watches, is the best selling price range in the market.
Lady’s watches account for 80%-85% of total watch sales, while quartz watches account for 75-80%.
4. How is the quality of the wholesale market watch?
There is an unchanging truth in the wholesale market: you always get what you pay for, in the premise that you have made enough comparison and homework in the market.
During years of development, the watch industry in Guangzhou has formed the most complete and efficient supply chain in the world, which enables the watch suppliers in Guangzhou to do OEM watch specifically for you from low to high-end easily.
Also, because of the sufficient supply, each factory can focus on doing an excellent job for their focusing part, maybe glass, maybe watch plate or watchband, this also helps to bring the cost down.
For example, lots of buyers purchase the cheap watch as a promotional gift for Women’s wear, those watches only function for 1-2 months; in the meantime, also lots of buyers purchase high-quality and expensive mechanical watches from the market.
What you need to do is to make clear of your requirements with the shop keeper, and make a comparison between shops to find a suitable price for your specific need, before making the purchasing decision.