Slowdown In US Apparel Sales And Prospects For Export Of Functional Products
Affected by the subprime crisis, the rise of clothing sales in the US market has slowed down markedly, some of which have declined since last year. Nevertheless, the American consumers who are new and loathing are still having a big appetite for new functional fabrics and garments, and their export prospects are promising. This is learned from the recent analysis report of the American Apparel retail market held in Shanghai recently.
According to a survey just completed by the US Cotton Corp, consumers of 35~65 years of age at different ages have increased their spending on clothing for 2.7% over the previous year because of their high incomes, while those with lower income 13~24 years spent on clothing reduced by 1.6%. The survey shows that, as in 2006, sales of clothing in the US market remained negative last year, while sales of clothing in specialty stores and department stores continued to rise.
Although the economic downturn has affected the purchasing power of American consumers, the survey shows that Americans are willing to buy fabric garments with ironing, wrinkle resistance, moisture absorption and breathability. Most of them are willing to pay more than $2.43 for shirts that sell for an average price of $more than 10 per shirt. 2/3 of Americans know functional clothing, and 59% of American consumers have bought functional clothing. Since 2005, most of the functional clothing prices have risen, but the price of the ironing pants has almost stood still, because the supply of ironing trousers has increased, and the brand has increased rapidly from more than 120 to more than 360. Therefore, it is possible to enter the US functional clothing market as early as possible and constantly innovate and increase the added value of commodities so as to make a difference in the US market. The survey also showed that 35~65 year old consumer groups like to wear functional clothing coats, while the 16~34 year old consumer groups love to wear functional sportswear. If we can develop products for their preferences, China's exports to the United States are expected to usher in a new climax.
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