Clothing Retail Domestic Demand Increased &Nbsp; Brand Clothing Accelerated Growth.

From the industry perspective, the total retail sales of consumer goods in 2011 totaled 183919 billion yuan, an increase of 17.1% over the same period last year. In the retail sales of Enterprises above Designated Size, the retail sales of clothing amounted to 571 billion 270 million yuan, an increase of 25.1% over the same period last year, and the growth rate was much higher than that of social consumer goods retail sales and domestic GDP growth. But in 2012 1-2, the total retail sales of 100 large retail enterprises nationwide increased by 6.1%, a record low, and the total retail sales fell 4.23% year-on-year.

On the one hand, high priced products inhibit terminal demand, economic situation is uncertain and cause residents' consumption to be cautious and so on, which has led to a sharp decline in consumption growth. The growth rate has dropped to a single digit. It has been rare for many years. It can be said that domestic clothing consumption is at the bottom of the slow growth slowdown. With the gradual decline of CPI month by month, the gradual promotion of the national consumption policy, the increase of disposable income of residents and the gradual warming of the weather, people's consumption will be gradually released. The bottom is basically clear, and the growth of clothing consumption will also gradually increase. In this way, the short-term business downturn is the best time to invest.

　　 policy In 12th Five-Year, the planning for the first time explicitly put forward the implementation of brand building projects focusing on clothing and home textile industry, focusing on cultivating 100 garment home textile enterprises with strong innovation capability, high market coverage and high occupancy rate, and good business efficiency. In the past, the investment pull mode has shifted to consumption as the breakthrough point, and consumption will play an increasingly important role in the proportion of economic structure. In recent days, the consumer market development report released by the international trade and Economic Cooperation Research Institute of the Ministry of Commerce of China said that the contribution rate of consumption to China's gross domestic product (GDP) in 2012 will exceed investment and become the first pull for economic growth for the first time in nearly ten years. "In 2012, From this point of view, the wide coverage of the clothing retail industry will be faced with favorable policies, and the performance of the listed companies will also be released with the good fortune.

From the perspective of market performance and capital allocation, in 2011, in the trend of the overall market decline, the brand clothing sector was relatively small, reflecting a better resilience. In 2012, in the market rebound, Spin Due to the decline of consumption data of warm winter last year, the clothing sector suffered a fall, leading to a further narrowing of the valuation of apparel retail industry and the overall valuation level of A shares. At present, the overall price earnings ratio of the apparel retailing industry is about 20 times, which is closer to the bottom area than all A shares, and the valuation advantage is obvious. In addition, in 2012, the global economy is facing uncertainty. The slowdown in domestic economic growth has become a consensus. Only a few achievements in the industry have been identified. However, the retail sector of clothing is still growing by the stimulus of consumption policy. The quality apparel retail stocks are both defensive and offensive, and the willingness to fund the initiative is also high, which is more likely to exceed the average market performance.

Consumers of high-end clothing products Price Low sensitivity and strong brand premium. In terms of stocks, Men's wear We can pay attention to the seven wolves, the card slave Road, the wedding bird, the nine herdmen, the high-end women's clothing can be concerned about the stock of Langer, and the casual dress is concerned about the Semir dress and the American dress.