New sales strategies help old brands to grow revenue
2016-08-10 15:26:00

Some of China's longest-running businesses are struggling to find new markets.


One jewelry store near Yuyuan Garden has been running for 168 years and it newly sets up a workshop for customers to make their own jewelries. Managers say it helps to attract young customers especially on weekends.

customers to make their own jewelries 


Customers make their own jewelries in the workshop

customers to make their own jewelries 


Customers make their own jewelries in the workshop


"Customers can make small silver accessories in the workshop, the metal is flexible for processing. It attracted some young people and children," said Zhai Jianguo, designer, Shanghai Laofengxiang.


"When thinking of old brands like us, many might first think about our reliable quality, but now we also want to let consumers know we have products for young people. "


A famous art store along Nanjing Road has been struggling in recent years, with much of its revenue coming from auctions of traditional Chinese artwork. To compensate the company is now selling more affordable products such as prints of famous Chinese paintings.


"The high-end art market is not very stable in recent years, the auctions have been affected by the economic situation," said Jin Ke, deputy general manager, Shanghai Duo Yun Xuan Group.


"We want more sustainable development, so we want to expand our target clients to the rising middle-class. Many of them now have demands for home decoration, and the paintings ranging from several hundreds of yuan to 2,000 are quite popular. "


Business experts say old brands have to innovate or they will simply die off.


"Brands should have the spirit of craftsman to develop better service and products, like the Swiss watcher makers who also have a long history of development. Old brands need to study consumers' needs and improve product design and appearance to lead the fashion," said Qi Xiaozhai, chairman, Shanghai Assoc. for Business and Economics.


Qi says old brands can also develop new sales strategies such as using shopping websites. Editor:Rose