Business Opportunities In China's Garment Industry In The Next Ten Years

Boston Consulting Co. Beijing The report on "the costumes Dancing: the opportunity to grasp the fast growing opportunities in China's fashion market" is published. It is estimated that the scale of China's fashion market will reach 800 billion yuan in the next 5 years, and will become the world's largest fashion retail market in 10 years.

The report shows that China's fashion market has expanded two times in the past 10 years, and the market scale reached 400 billion yuan in 2010. This figure is expected to continue to rise at an annual rate of 10% over the next 10 years. By 2020, China's fashion retail sales will reach 13480 billion yuan. In the past 10 years, the opportunities for China's garment industry have been concentrated in small and medium-sized cities.

The report shows that in the next 10 years, many high consumption groups will live in inland or smaller cities. In 2010, smaller cities constituted about 50% of the fashion market. By 2020, 2/3's middle-income class and wealthy consumers will live in four to seven tier cities, and will occupy 60% of the overall growth of the fashion market. For enterprises, this means that the share of interests will be more dispersed. According to the survey, according to the survey results, if the clothing of medium and high price is to achieve 80% coverage in the market, enterprises need to enter 462 cities, to maintain in 2020. same In terms of market coverage, enterprises will need to enter 568 cities.

In this regard, Boston consulted China. clothing The key to a new strategy will be to assess opportunities for smaller cities to provide services, determine the emotional space that their brands own and should have, and explore ways to create an exciting shopping experience for consumers.

"For fashion companies, the key to winning in the past is to have a" big "brand, low-cost supply chain and the ability to develop retail business rapidly through franchising. "In order to succeed in the future, enterprises need to adjust their strategies according to the new needs of consumers," said Lu Yan, partner of BCG Greater China.

According to the introduction, Boston consulted the research report was interviewed over 5000 and 14~45 year old consumers in different regions and tier cities. Boston consulting company (BCG) is a global management consulting firm founded in 1963 and now has 74 offices in 42 countries worldwide.