Fengyun Dialogue brought together global brand representatives, cultural figures from Chang Wei, and various celebrities and guests for an engaging discussion. The event was filled with passionate debates and insightful questions from the media, making it a highlight of the evening. Topics such as "China's E-commerce Market, Prospects for Niche Brands in China, and the Development Trends of Wanwang Network" were thoroughly explored. Participants shared their perspectives, and many were eager to learn more. The "Small Table Series" is here to bring you the highlights of this exciting conversation.
[Image: A photo of the event with speakers on stage]
Mr. Wei Chang, Deputy Director of the China Watch Association Collection Research Association, Mr. Wang Zesheng, Deputy Director of the China Watch Association Trade Working Committee, and Mr. Xiao Xiao, Chairman of Wanwang Network, engaged in an in-depth discussion on topics including the current state and future of China’s e-commerce market, the relationship between family-owned enterprises and group services, and the development model of Wanwang Network.
**Mr. Chang Wei:** In this year’s unique market environment, we discussed the status of the Chinese watch market.
**Mr. Xiao Xiao:** Over the past two years, China’s sluggish economy and the government’s anti-corruption policies have impacted the consumption of watches and high-end luxury goods. Traditional retail has faced challenges, and high-end consumption has dropped significantly. However, Wanwang Network has been less affected. Our consumers are more focused on personal consumption, so the impact of the anti-corruption policy has been minimal. We have maintained a growth trend over the past two years.
**Mr. Chang Wei:** Mr. Wang, with nearly 40 years of experience in the watch industry, including time at Tissot (China) as a technical director, what do you think are the factors that benefit the development of the Chinese watch market?
**Mr. Wang Zesheng:** In the past two years, the government’s anti-corruption campaign has reduced gift-giving and corruption, leading to a return to rational consumption. This is beneficial for the market’s healthy development. From the perspective of Wanwang Network, European watch brands are well-regarded because they are serious about craftsmanship and offer good value for money.
**Mr. Chang Wei:** Mr. Xiao, as an e-commerce platform, how does Wanwang Network promote these niche European brands?
**Mr. Xiao Xiao:** These brands are relatively new in China, but in Europe, they are family-run and resistant to acquisition by large groups. They stick to their original designs and production methods, which is commendable. Before introducing them, we conduct strict screening to ensure they truly focus on product quality. We then precisely target the right audience in China and use our large customer base to recommend these products. In a competitive market, we’ve achieved great results with these brands.
**Mr. Chang Wei:** How do you view the after-sales service of family-owned businesses versus large corporations?
**Mr. Xiao Xiao:** Every brand has its own strengths. To succeed, after-sales service must be top-notch. Even the best marketing can fail without proper support. Do you agree, Mr. Wang?
**Mr. Wang Zesheng:** Absolutely. High-end watchmaking follows strict rules. Manufacturers set the standards, and vendors ensure excellent service. All maintenance is done carefully—every small issue is fixed before returning the product to the customer.
**Mr. Chang Wei:** What is your repair rate for different brands on Wanwang Network?
**Mr. Xiao Xiao:** Repair rates vary by brand, including well-known names like Longines, Tissot, and Omega, as well as our exclusive niche brands. I’m satisfied with the quality. Our maintenance team has 30 years of experience in Guangzhou, led by master technicians. Each brand we introduce undergoes training on maintenance and care.
**Mr. Chang Wei:** What strategies do you see for the future of Wanwang Network in terms of brand representation and watch marketing?
**Mr. Xiao Xiao:** We will continue to introduce new brands based on customer demand, while maintaining our strict selection criteria. We currently represent 16 brands and aim to reach around 30 within two years.
**Mr. Chang Wei:** How do you see the future of models like Wanwang Network compared to traditional sales methods in China?
**Mr. Wang Zesheng:** This e-commerce model combined with physical stores is new and highly responsive. While not yet large-scale, the products are real, and the model is promising for the future in China.
**Mr. Chang Wei:** Thank you, Mr. Wang, for your insights. And thank you, Mr. Xiao, for sharing. We appreciate everyone’s participation. Next, we’ll hear from Mr. Xiao Xiao and brand representatives. Stay tuned.
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