Innovation pays off for old, honored brands
Bold innovation
Meanwhile, Liubiju Pickle, which began trading in 1530, has reduced the saline content of its traditional pickles by 25 percent. It is using a new type of tianmian sauce and post-cooking techniques to diversify its products.
You Jiangfu, the brand's general manager, said, "We've also innovated to produce ice cream made from black sesame and black garlic."
Meanwhile, renowned Peking duck chain Quanjude's restaurant on Qianmen Street, and a shop selling herbal coffee produced by traditional Chinese pharmacy Tongrentang, which has a history of more than 350 years, have attracted widespread market attention.
During the June 18 online shopping carnival, more than double the number of consumers opted for time-honored brands rather than others on the major e-commerce platform JD.
Sales growth for storied brands also more than doubled during the festival, with many of them seeing sales of over 100 million yuan ($14.83 million).
A later survey by JD found that 75 percent of young people expressed a strong interest in innovative products from laozihao during the carnival. In particular, sales to those born after 1995 rose by 141 percent year-on-year.
Ready-to-eat roast duck slices from Quanjude and kebabs from Beijing hotpot chain Donglaishun saw brisk sales on a number of e-commerce platforms, including Taobao.
