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Fashion Market Winning Mode Change

2011/7/28 10:35:00 46

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The agency dispute is only the tip of the iceberg in China's fashion market.

Recently, the research report released by Boston consulting company (BCG) shows that, in the next 10 years, China will become one of the largest fashion retail markets in the world. The past "big" brand, low-cost supply chain, and rapid retailing through franchising are no longer the magic weapon to occupy the Chinese market.

The scale is 800 billion yuan in 5 years.

By the end of 2010, the size of China's fashion market has been close to 400 billion yuan. It will reach 800 billion yuan in the next 5 years, and will grow two times in the next 10 years. It will become one of the largest fashion retail markets in the world.

The report predicts that the trend of fashion sales in the next 10 years will be related to population structure. The fashion consumption of the younger generation will increase, and women's fashion consumption will take a larger share. More high consumption groups will come from smaller cities.

It is reported that the report studied more than 5000 different levels of urban consumers 14-45 years old.

Share of interests spread to hundreds of cities.

The report points out, "in the past

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The key to success is to have a 'big' brand, a low-cost supply chain and the ability to develop retail business rapidly through franchising.

But if we want to succeed in the future, we need to adjust our strategy.

Statistics show that 50% of the fashion market in 2010 is made up of small and medium-sized cities, and the future 2/3 middle income and wealthy consumers will live in 4-7 line cities.

This means that the share of the corporate interests will be more dispersed, and if a high-end garment brand wants to cover 80% of China's market, it needs to enter 462 cities.

Therefore, in order to succeed in the Chinese fashion market, the key strategy is to expand the market outside the big cities, aim at the new high consumption groups, and explore new distribution channels and retail formats.

Emotional marketing channel competition is the key.

In addition, the changing lifestyle has led to an increasing demand for fashion to adapt to different occasions. Consumers' views on fashion are increasingly involved in emotional aspects, and enterprises have the opportunity to enhance their shopping experience through new distribution channels and retail formats.

Zhou Yunling, one of the report's contributors and BCG project manager, said: "competition for consumer emotional needs and retail channels will be more intense than ever before.

Developing the right products as early as possible will be the key to win the Chinese market. "