The Shanghai Modern Watch and Jewelry Chamber of Commerce was officially established recently. More than 80 famous watch and jewellery companies and business groups at home and abroad held a group in the face of cold sales of high-end luxury goods.
Despite the impact of “three public consumptionâ€, the high-speed growth period of high-end watches and jewellery has passed, but the Chamber of Commerce said that the consumer groups of high-end watches in China are shifting from large customers such as enterprises and institutions to the middle class for personal consumption.
Shanghai has initially formed a high-end brand of watches and jewellery sales featuring Nanjing West Road, Huaihai Road, Yuyuan Mall and some commercial centers. Since 2000, sales have increased by 30% annually, making it an important target market for international luxury brands. The establishment of the Shanghai Modern Watch and Jewellery Chamber of Commerce aims to help Shanghai's high-end watch and jewellery industry embark on a healthy development path.
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