A livestreamer introduces products via livestreaming platforms at a shopping mall in Wenzhou, East China's Zhejiang province. [Photo by Zhao Yong/66wz.com]
Wenzhou in East China's Zhejiang province will stimulate market vitality and unleash consumption potential to expand domestic demand and stimulate consumption in an all-round manner, Wenzhou Daily reported on Sept 24.
The local government recently released an action plan to bolster the city's growth as a regional consumption center and create a climate for consumption upgrading.
Wenzhou has been a hub of the traditional light industry that produces items such as garments, shoes, cases and bags, as well as glasses, since the beginning of China's reform and opening up.
More than two million Wenzhou people are doing businesses across the country and overseas, holding about 80 percent of international light industry brands' general agent in China.
To better leverage these advantages, Wenzhou has upgraded popular commercial areas across the city to expand its capacity for the nighttime economy.
Meanwhile, new forms of businesses, such as livestreaming and creative cultural bazaars, have created new consumer demands and unleashed greater consumption potential.
One example is the gentlemen cloth culture festival initiated by a local garment company Jodoll in March 2021.
Consumption due to such scenarios will be a development trend for physical retail, said Chen Dapeng, head of the China National Garment Association, during his visit in Wenzhou.
An increasing number of shoes and garment companies have also embraced the customer-to-manufacturer (C2M) mode of sales.
Enhancing innovation capacity is not only an effective way to stimulate consumption, but also the key to realizing industrial upgrading of Wenzhou's manufacturing sector.
To this end, the city has spared no efforts to cultivate and introduce a group of top designers to improve the added value of products.