The latest data recently released by the China National Garment Association (hereinafter referred to as the “Association”) show that with the support of a series of “stabilizing growth” policies, my country’s domestic clothing market has gradually recovered, and investment has maintained a growth momentum.
The reporter learned that the Ministry of Industry and Information Technology is about to hold the 2022 Textile and Clothing “Excellent Supply and Promote Upgrading” event, and the “List of Top 100 Textile and Clothing Brands (2022 Edition)” is also in the selection process.
On the 14th, affected by relevant news, Anzheng Fashion hit the daily limit, and Meibang Apparel, Taimushi, Bangjie Shares, Wanlima, Mengjie Shares, Ruyi Group, Wanshili, Baoxiniao, etc. followed the rise.
Invest to maintain growth momentum
The “Economic Operation Briefing of China’s Apparel Industry from January to August 2022” recently released by the association shows that the domestic apparel sales market maintains a good recovery trend, online retail growth has steadily picked up, and physical store operations are improving.
In the month of August, the retail sales of clothing commodities by units above designated size increased by 6.0% year-on-year, and the growth rate was 4.7 percentage points faster than in July; from January to August, the retail sales of clothing commodities by units above designated size in my country totaled 581.4 billion yuan. It fell by 5.5% year-on-year, and the decline narrowed by 1.4 percentage points from January to July. At the same time, online clothing retail sales maintained steady growth. From January to August, online retail sales of clothing products increased by 4.0% year-on-year, and the growth rate was 0.6 percentage points faster than the previous seven months.
Summer vacation travel and increased willingness to socialize consumption have led to continued improvement in physical store operations. According to statistical data from the China National Commercial Information Center, in August, the retail sales of clothing products by 100 major large-scale retail companies in the country increased by 2.1% year-on-year, higher than that in July 3.6 percentage points per month.
In August, the growth rate of fixed asset investment in my country’s garment industry fell slightly, but continued to maintain rapid growth. This shows that as governments at all levels increase their support for investment in reinforcing and strengthening industrial chains, companies are investing in high-quality industries. Confidence in development has gradually increased, investment has been increased in areas such as automation, digitalization and intelligent technological transformation and upgrading, brand building, and regional layout adjustment, and industrial transformation and upgrading have been advanced in depth.
Data show that from January to August, the fixed asset investment completion of my country’s garment industry increased by 30.9% year-on-year, and the growth rate was 26.1 percentage points higher than the same period in 2021, which was 23.3 and 20.9 percentage points higher than the overall level of the textile industry and manufacturing industry.
A large number of special product promotion activities are about to launch
In the fourth quarter, in order to support the steady growth of the industrial economy, the Ministry of Industry and Information Technology will launch the 2022 textile and clothing “Excellent Supply to Promote Upgrading” campaign.
According to the plan, the Ministry of Industry and Information Technology will carry out special product promotion activities to expand textile and clothing consumption; hold shopping festivals and “National Trend Cotton Products” series of promotional activities to expand cotton textile and clothing consumption; promote innovative textile and clothing products , cultivate new consumption hot spots; support the innovative development of natural fiber textiles such as wool and cashmere, and enhance the consumer appeal of products.
Research by the China Business Industry Research Institute believes that the per capita disposable income of Chinese residents will further increase, which provides room for further development of the apparel industry. It is estimated that the total retail sales of clothing, shoes, hats, and knitted textiles above designated size will reach 1,447.9 billion yuan in 2022, continuing to grow from 1,384.2 billion yuan in 2021.
Listed companies take multiple measures to strengthen brand recognition
While expanding textile and apparel consumption, the Ministry of Industry and Information Technology will also select and cultivate a number of high-end brands.
Not long ago, the Ministry of Industry and Information Technology launched a survey of textile and apparel brands in 2022, and planned to adjust and update the “List of Enterprises that Focus on Tracking and Cultivating Textile and Apparel Brands (2020 Edition)” to the “List of Top 100 Textile and Apparel Brands that Focus on Cultivating (2020 Edition)” 2022 edition)”.
Chen Dapeng, vice president of the China National Textile and Apparel Federation and president of the China National Garment Association, believes that the Chinese market is undergoing the largest transformation and upgrading of fashion consumption in the world. The trend of personalization and fashion is accelerating, especially as the cultural confidence of our country’s consumers continues to increase.All-round innovations such as product development, design creativity, and model innovation of domestic clothing companies and brands provide a huge market.
The association’s aforementioned briefing also pointed out that since this year, listed companies have strengthened their advantageous single products and further strengthened their brand recognition. For example, Jiumuwang, which specializes in men’s trousers, continues to strengthen the research and development of products and fabrics, promotes younger product styles, optimizes and integrates trousers styles, and improves some processes to further enhance the comfort of trousers; Biyinlefen Through online and offline integrated marketing, we created a super single product – small collar T-shirt, further consolidating Biyinlefen’s industry status as “T-shirt expert”.
In addition, listed companies also use digital and intelligent technologies to empower brand development. For example, Elesis has deepened the construction of an omni-channel digital management system, significantly improved the delivery time, effectively improved the efficiency of goods circulation and the satisfaction rate of product allocation, and fully explored the sales potential of the front-end. In terms of brand promotion, ELISA launched the virtual digital person @飒ELISA, opened exclusive accounts on social networks represented by Xiaohongshu, and continued to accurately push differentiated brand personality propositions.