Zhongxin Wanghai, June 6 Question: How does the "Shanghai brand" manufacturing live a "new wonderful" under the new economic wave?

Reporter Zheng Yingying

Four years ago, that is, in 2019, Shanghai Yuyuan Tourism Mall (Group) Co., Ltd. (hereinafter referred to as Yuyuan Shares) successively acquired two Chinese "domestic watches" - "Shanghai" and "Seagull" brand watches by way of holding acquisition.

On the 8th, at the 2023 "Made in Shanghai" fashion consumer goods industry roundtable sharing meeting, Hu Junjie, vice president of Yuyuan Co., Ltd., said that this time to participate in the 2023 "Made in Shanghai" with Shanghai brand watches and other platforms, and promote products through platforms such as Dewu App (a local trend e-commerce platform in Shanghai), in order to be included in the "trend product catalog" that young people pay attention to.

Under the wave of the new economy, how can the once well-known "Shanghai brand" live out "new wonderful"?

Shanghai's manufacturing "background"

Shanghai opened its port in 1843. In the 20s of the 30th century, "Made in Shanghai" was not only unique in the Chinese market, but also exported to the Southeast Asian market, Europe and the United States market. At that time, a large number of "Shanghai brands" such as Shanghai brand watches, butterfly brand sewing machines, phoenix brand bicycles, and white rabbit milk candy were famous at home and abroad.

Under the wave of the new economy, Shanghai is still a highland for the manufacture of fashion consumer goods. The white rabbit milk candy "draped" with the Shikumen pattern of the outer packaging, is still the hot-selling "Shanghai brand" in the Shanghai No. 1 food store on Nanjing East Road, favored by foreign tourists.

At the opening ceremony of the 2023 "Shanghai Manufacturing Fair", Wu Jincheng, director of the Shanghai Municipal Commission of Economy and Information Technology, said that the fashion consumer goods industry is an important part of Shanghai's modern industrial system, and in 2022, the output value of Shanghai's consumer goods industry accounted for 15.8% of the total output value of industries above designated size in Shanghai.

According to the Action Plan for the High-quality Development of Shanghai Consumer Fashion Industry (2022-2025), Shanghai strives to achieve the goal of exceeding 2025 billion yuan in the fashion consumer goods industry by 5200.

The "new generation" in new consumption

In order to accelerate the pace of construction of Shanghai's fashion consumer goods industry, Shanghai Municipal Commission of Economy and Information Technology, Shanghai Changning District People's Government, Donghua University and Taotian Group took the lead in jointly initiating the establishment of the "Shanghai Fashion Consumer Goods Industry Ecological Innovation Lab", aiming to deeply study and analyze the development status, future trends and innovation direction of fashion lifestyle and consumer goods industry through resource sharing between the government, the market and universities, and help the development of Shanghai fashion consumer goods industry.

According to the "Dynamic Manufacturing: 8 Shanghai Fashion Consumption Trend Report" (referred to as: Report) released by the above laboratory on the 2023th at the 2023 "Made in Shanghai Best Collection", contemporary consumption has been far more than just to meet the needs of survival and function, consumers seem to buy an item, but in fact get a symbol, a way of communication.

In terms of the "she economy", the report points out that Chinese female consumers have more and more power in consumption decision-making, not only to choose "beauty", but also to value comfort and function.

The report also pointed out that China's "Generation Z" is not just the future of brands, they are already influencing the development of the industry today. Compared with previous generations of consumers pursuing international big brands, domestic brands occupy an "important place" among the beloved brands of Generation Z.

Data from Dewu App shows that in May this year, the sales of Phoenix Bicycle on the platform increased by nearly 5 times year-on-year, and the "post-9" users accounted for 95% of the new users.

The reporter learned from the Shanghai Municipal Economic and Information Commission that Shanghai is currently focusing on "eight fashion products" such as "makeup products" and "smart supplies", and catering to the consumption trend of a new generation of consumers through brand upgrades. (End)