Research on the Renewal Strategies of Traditional Chinese Brands in the New Era

Amid rapid technological progress and the rise of social media, many traditional Chinese brands have been phased out for failing to adapt quickly to changing market demands and consumer spending patterns. Therefore, it is quite significant for them to fully understand the changes in consumer behavior and psychological needs to develop suitable strategies for their revitalization. Traditional Chinese brands have their own unique brand features and culture heritage. Therefore, it is particularly important to retain its own cultural characteristics. Meanwhile, the life cycle of brand is limited. They should seize the opportunity to renew themselves to survive in fierce competition. This article starts from the background and urgency of traditional Chinese brands renewal. It focuses on the three strategies for traditional brands revitalization such as product innovation, marketing innovation, and sales channel innovation according to self-determination theory (SDT) and Maslows hierarchy of needs theory. It could provide traditional Chinese brand revitalization with theoretical support and practical guidance.