Forecast And Analysis On Market Scale And Development Prospect Of Chinese Garment Industry

With the characteristics of high product quality and competitive cost, China's clothing industry has gradually played an increasingly important role in the global clothing industry chain, and has become the world's largest clothing producer and exporter.

Market scale of clothing industry

China has a large population base and has natural advantages in market scale. At the same time, with the economic growth and consumption upgrading, the scale of China's clothing market shows a steady growth trend. In 2021, the domestic demand market of textiles and clothing will recover steadily, and the pulling effect on the steady recovery of the industry economy will be enhanced. According to the data of the National Bureau of statistics, in 2021, the total retail sales of clothing, footwear, knitwear and textiles above the national quota will reach 1384.2 billion yuan, an increase of 12.7% year-on-year. It is estimated that in 2022, the total retail sales of clothing, footwear, knitwear and textiles above the quota will reach 1447.9 billion yuan.

Source: National Bureau of statistics

Analysis of per capita consumption

With the increase of per capita disposable income, China's per capita clothing consumption has also maintained a rapid growth, but compared with developed countries and regions, there is still a gap. In 2020, China's per capita clothing consumption is 201.44 US dollars. Compared with developed countries, China's per capita clothing consumption still has a large space for growth. In the future, with the further growth of China's per capita disposable income, China's per capita clothing consumption will also increase, which provides room for the further development of China's clothing industry.

Data source: Euromonitor

Development prospects

Consumption can increase disposable income

In the future, with the further improvement of China's residents' disposable income level and the continuous promotion of new urbanization, China's residents' clothing consumption expenditure will further increase. In addition, with the rapid growth of the middle class and rich class groups in China, the pursuit of clothing quality, brand value and emotional identity of these groups is deepened, showing new consumption characteristics of diversification, high-end and experience, which brings new business opportunities for garment enterprises, and the clothing market space is expected to further expand.

2. Online retail drives the growth of clothing consumption

With the continuous expansion of online shopping users, the penetration rate of social e-commerce has gradually increased, and the supply mode of emerging markets such as online retail has maintained rapid growth. Mobile Internet has become the primary shopping channel for young people. In addition, while promoting the consumption experience of stores, clothing brands and retailers make full use of the achievements of Internet technology reform, and with their own feedback mechanism and interactive advantages, push product information to consumer groups in multiple dimensions, and establish new consumption channels and new consumption scenarios based on specific groups, Gradually realize the transformation from the traditional consumption mode of "people looking for goods" to the new consumption mode of "goods looking for people", which further promotes the growth of online clothing retail.