Accelerated recovery and upgrading of the clothing market
abstracts：It is said that we Beijing girls don't pay attention to clothing, so we have to show them what we wear! "Miss Lv from Beijing told reporters that in the past two years
It is said that we Beijing girls don't pay attention to clothing, so we have to show them what we wear! "Miss Lv from Beijing told reporters that in the past two years, she spent more leisure time at home and didn't buy much clothes. This year, social activities have increased, and whether it is receiving friends from other places or going out for spring outings, she has to buy a lot of" outfits ".
The China Clothing Association recently released the "January March 2023 China Clothing Industry Economic Operation Briefing", which shows that under the influence of factors such as weak market demand improvement, rising production and operating costs, and intensified market competition, the growth rate of major indicators such as production, efficiency, and investment in the clothing industry showed a significant negative growth trend in the first quarter, and this year is opening was severely under pressure.
However, as we enter March, the overall situation of the clothing industry resuming work and production, as well as business and market recovery, is stable. The domestic market is accelerating to recover, and the decline in exports is significantly narrowing. Industry production, revenue and other indicators are gradually repairing, and positive factors driving the industry to stabilize and improve continue to accumulate. Throughout the year, the industry is economic operation is expected to achieve a steady increase in high-quality development resilience and vitality through continuous improvement.
Policy driven, comprehensive recovery of clothing online and offline sales
Since the beginning of this year, the national and local governments have continuously increased the efforts of "expanding domestic demand" and "promoting consumption" policies, and social and economic activities have become increasingly active. The recovery of the clothing consumption market has accelerated. On April 19th, the Ministry of Industry and Information Technology and the Ministry of Commerce jointly issued the "Notice on Carrying out the 2023 Textile and Clothing Supply Optimization and Upgrading Activity", which clearly proposed to organically combine expanding the demand of the textile and clothing market with deepening the supply side structural reform, deeply promote the "three products" action of increasing variety, improving quality, and creating brands of textile and clothing, boost development confidence, enhance industrial resilience, improve supply level, promote industrial upgrading, product upgrading Upgrade consumption, promote steady progress in the textile and clothing industry, and consolidate the advantageous position of the textile and clothing industry. In this context, clothing enterprises continue to consolidate their operations, innovate their thinking, increase marketing efforts such as online and offline channel construction and content conversion, and continuously enhance their business confidence.
Demand driven, outdoor sports apparel has become a fast growing track
Unconsciously, everyone began to pay attention to their health indicators and rolled up their exercise checkins in their social media. Mr. Luo told reporters that he has been running 5 kilometers outdoors every day since the beginning of this year, and his previously high blood sugar has now improved significantly.
With the liberalization of epidemic policies and the trend of younger and more personalized consumption, health has become a key demand for residents. Residents' willingness to exercise continues to increase, and they have upgraded from traditional sports to more diversified and specialized sports such as marathons, skiing, and outdoor activities. This has driven the rapid expansion of the new outdoor sports consumer market. In the first quarter, domestic sports brands such as Anta, Li Ning, Tebu, and Mugao Di achieved steady growth in performance. While seizing the opportunity for consumer upgrading, enterprises actively carry out technological innovation and product upgrading, strengthen functional innovation in fabrics, craftsmanship, design, and other aspects, and attract a large number of young consumers through technological means and trendy design.
Supply and demand assistance, the clothing industry is expected to recover steadily throughout the year
The report from the China Clothing Association states that looking forward to the whole year, the development situation faced by China is clothing industry is becoming increasingly complex, and multiple difficulties and challenges such as insufficient demand, rising costs, order transfer, and increased trade risks still need to be overcome. However, based on the low base effect of industry operation in 2022 and the strong support of smooth domestic circulation, the industry is risk resistance and development resilience continue to be released, The positive factors driving the high-quality development of the industry will continue to increase, and the clothing industry is expected to gradually return to a stable recovery development track.
From the perspective of the domestic market, as China enters a new stage of epidemic prevention and control, the steady improvement of the macro economy has created good conditions and foundation for the recovery of the domestic clothing market. In the first quarter, the Gross Domestic Product (GDP) increased by 4.5% year-on-year, and per capita disposable income increased by 5.1% year-on-year. The Manufacturing Purchasing Managers' Index (PMI) for the first three months were 50.1%, 52.6%, and 51.9%, respectively, higher than the same period last year. According to data from the Ministry of Commerce, during the May Day holiday, the domestic consumer market maintained rapid growth, with clothing sales increasing by 18.4% year-on-year. Economic growth has led to the expansion of employment and the increase of residents' income. Residents' consumption ability and willingness have been constantly strengthened, and consumption demand has been accelerated. Industrial enterprises will also continue to promote the vigorous development of new business types, new scenes, new products, and new brands in emerging consumption hotspots such as "China-Chic", "Green", and "Metauniverse", and help the domestic clothing market recover smoothly from both supply and demand.
The person in charge of the Clothing Association stated that overall, in 2023, China is clothing industry will actively respond to the complex external environment and the arduous task of reform, development, and stability. With the support of a strong industrial chain advantage and a gradually warming domestic market, it will steadily return to the operational track of promoting deep transformation, upgrading, and high-quality development.
