The Friday 20 March 2015 edition of the China Daily carried the report: “Silk Street eyes upmarket transition”. Following are extracts from the article:
“Beijing’s famous Silk Street market plans to discard its image as a mixed-bag shopping paradise and transform itself into a top high-end market.
“Silk Street announced on Thursday that it will close all shops that continue to sell poor quality goods or provide bad service and introduce higher-end businesses, including designer clothing and self-owned brands, developing into a high-end shopping place that can compete with shopping malls of international standards.
“Located in Beijing’s largest business and embassy area, Silk Street sells a variety of products, but focuses mostly on clothing. It has become the most popular shopping place for foreigners in Beijing, and has welcomed foreign dignitaries such as Jacques Chirac, former president of France, and former United States president George H.W. Bush.
“Jin Wenbiao, who has sold tea and teapots for 10 years, said he is not surprised to hear about the upgrading.”
‘In the past several years, I have kept upgrading my business following market changes,’ he said.
“He said he has been selling better quality tea and teapots in recent years with the rising demand of customers.
“Customers also care more about service as Chinese are becoming more affluent, he said.
“‘In the past most of my customers were foreigners, but now half of them are Chinese and the number of Chinese customers is increasing,’ he said.
“‘The days when you make money with a one-shot deal are gone,’ he said. ‘We must try to win their hearts.'”
Honouring the customer, paying attention to the customer’s expectations and treating the customer well so he/ she will come back again in future, and also introduce his/ her friends, is arriving in Silk Street. It is a reflection of greater affluence and an increasing willingness to pay for quality products and for good service.
Honouring the customer is good for business.
Honour is good for business.