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Textile And Clothing: Deep Analysis Of Consumption Growth And Growth Mode

2008/9/26 14:21:00 26

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Key points of investment

Industry development trend: clothing consumption continues to grow, consumption structure tends to be multi-level and diversified.

Clothing market depth segmentation era is coming.

Investment logic: building brand trees is the best way for apparel retailers to share the industry's growth.

Brand positioning, brand tree structure, operation system and business style gradually grasp the long-term value of apparel retail enterprises.

Related companies: seven wolves, happy birds, and American Apparel.

Risk warning: macroeconomic slowdown risks

Distinctive analytical methods and viewpoints in this report

According to the driving force of growth, we divide the textile and garment industry chain and define the apparel retailing industry.

According to the industry status, the stage of clothing brand development and the comparable historical data, the change direction of industry growth mode is put forward for the first time, that is, the number driven growth of single brand channel is approaching the peak, and the era of market segmentation is coming.

For the first time, the advantage of the international clothing brand is that the clear brand positioning and the proper operation mode complement each other.

Referring to the growth mode and market depth segmentation trend of international apparel retailers, it is proposed that building brand trees is the best way for apparel retailers to share clothing demand growth. The analysis method and analysis object will be shifted from a single clothing brand to a clothing brand tree.

On the basis of brand tree and operation mode, considering the characteristics of clothing brand management, it puts forward a progressive way to measure the long-term value of apparel retail enterprises.

I. definition of the report

(1) apparel retailing industry

The textile and apparel industry chain is divided into two parts: manufacturing and circulation.

Chinese apparel manufacturers, through the adoption of their own brands and penetration into the clothing circulation sector, have strengthened the control of consumer influence and clothing circulation, which is basically the same as that of apparel retailers relying on consumer driven growth.

The apparel retailing industry should include manufacturers who have the leading role in clothing circulation and sell their own brands to consumers.

Clothing products include clothing, shoes and hats, socks, gloves, scarves, ties and handbags.

(two) clothing brand type

According to the clothing brand name classification, designer brand, seller brand, manufacturer brand.

Brand life cycle is usually longer than designer's career. Designer brand and seller brand are usually difficult to distinguish.

The expansion of manufacturers to the circulation sector, the brand drivers of manufacturers and brand growth drivers are basically the same, so this report uses France, Italy and other countries according to the design and production attributes to classify brand types.

According to clothing brand design and production attribute classification, Haute Couture/TailorMade/Stylist, Couture Ready-to-wear and garment (Ready-to-wear).

Advanced customization: originated in the mid nineteenth Century, the concept and standard of French custom-made women's clothing are widely adopted by many countries. Italy is called advanced customization, and other countries become high fashion. Designers are tailored, handmade and expensive, and are luxury goods.

Ready-made clothing: standardized and industrialized mass production, low price.

Advanced garments: the design and clothing standardization of advanced garments is higher than that of ready-made garments. The price range is larger, but higher than that of garments.

Two, clothing consumption continues to grow, and consumption structure tends to be multi-level and diversified.

(1) income, urbanization and population growth are driving the continued growth of clothing consumption.

Driven by the growth of per capita disposable income, urbanization rate and population growth, the consumption level of residents continues to grow and consumption habits are becoming more mature.

Clothing consumption accounts for a relatively stable proportion of per capita consumption expenditure.

According to the total volume of clothing wholesale and retail, the retail sales of key high-end business enterprises, the retail sales of clothing and footwear, which represent all the retail formats, the clothing consumption changes are maintained, and clothing consumption keeps steady growth.

According to the national "11th Five-Year" development plan, the average annual growth of population is controlled below 8 per thousand. The per capita disposable income of urban and rural residents increased by 5% annually. In 2010, the per capita disposable income of urban and rural areas reached 13390 yuan and 4150 yuan respectively, and the urbanization rate of the whole country reached 47%, and the total population of the whole country reached 1 billion 360 million.

Apparel consumption is expected to continue to grow.

(two) clothing consumption structure tends to be multilevel and diversified.

The disparity of income per capita, urbanization rate, consumption culture and regional economy makes the structure of clothing consumption tend to be multi-level and diversified.

The per capita income of urban and rural areas, urban and rural areas and rural areas is quite different.

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