Sales Surge Surge Hidden Worries - Double Eleven: Clothing Business Enterprises To Go To Inventory Carnival?

Entity store and e-commerce platform will be

The fish and bear paws of the enterprise? -- Lin Jianrong

"The big feature of the electricity supplier is the pursuit of cost performance. In order to get rid of inventory and seize the electricity market, the company only makes the price and does not maintain the brand image, which is very harmful to the brand in the future."

According to the information released by Tmall, there are two enterprises in the "double eleven" that sell billions of dollars on the same day.

Industry.

What is the reason why the sales volume of clothing companies that are not high in price is far ahead of the relatively high price of household appliances and mobile communications?

From the industry perspective, textile and garment enterprises have also been developing e-commerce for a period of time. What does e-commerce bring to apparel enterprises and what they may lose? The data from enterprises and the view from the industry may help us clarify these problems.

Clothing enterprises serious inventory

For apparel listed companies, inventory problem has always been a nightmare that can not wake up.

Wind data show that in the three quarter, Shen Wan textile and garment industry is eliminated.

The 31 listed companies of cap and home textiles inventory totaled 44 billion 47 million yuan, up 6.01% over the same period last year.

The huge amount of inventory is not the only problem facing apparel enterprises, and the turnover days are also worrying.

Financial reports show that the main camp

YOUNGOR (600177.SH), the apparel foundry and real estate development company, reached three yuan in the 23 billion 953 million quarter, and the turnover period was 1642.34 days.

The main business is clothing, wool yarn and printing and dyeing, cotton spinning and real estate 600400.SH shares are also facing the double index of inventory and turnover days, the two figures are 3 billion 978 million yuan and 1298.08 days.

If it is said that the inventory and turnover period of YOUNGOR and ormosia shares are greatly extended due to the real estate business, it can not represent the current situation of clothing enterprises' inventory and turnover. Then, the data of the above two indicators that focus on clothing production and sales of 002269.SZ may be enough to make people worry about the inventory status of clothing enterprises.

Three quarterly reports show that the amount of goods stored in the US apparel period is 2 billion 198 million yuan, a slight decrease compared with the same period last year, 2 billion 982 million yuan, but higher than the 1 billion 753 million yuan in the semi annual report.

At the same time, the inventory turnover days of Smith Barney clothing were 161.55 days, and the inventory turnover rate was 1.67.

In fact, many famous clothing brands including Semir clothing (002563.SZ), 600884.SH (Shanshan), 002029.SZ (Wolfgang Wolf) (002029.SZ) and 601566.SH (601566.SH) have more than 500 million yuan in stock, and the turnover days are over 100 days.

Huatai Securities in the previous textile and apparel industry report said: "from this year's industry sales level, the terminal's clothing sales growth rate is significantly reduced.

Franchisee and brand enterprise terminal sales rate is also less than the level of previous years, terminal inventory is an objective existence.

And with the decline of raw material prices, the impairment of commodities over the season should be unavoidable.

Inventory digest hope electricity supplier

A research report from state securities shows that AOKANG International ("double eleven" online shopping) is in a big wave.

), sales of seven wolves and fuanna (Home Textiles) grew by more than 100% year-on-year, and the sharp growth of network sales channels was in sharp contrast to the weakness of physical sales.

Last year, the domestic online shopping scale reached 809 billion yuan, of which clothing online shopping performance was the most prominent, the scale of the market was 267 billion yuan (accounting for 33% of the network market sales), the annual growth rate was 93.5%, higher than the overall growth rate of the network market 20.6 percentage points.

With the rapid development of e-commerce, many garment enterprises have been "electric shock" and launched their own direct online stores.

Whether it is the "state purchase" under the US state clothing or the online shop of the same name under the seven wolves, they are making more and more contribution to business performance.

In the "double eleven" online shopping activities, the main reason for the sales of garment enterprises is that the relative premium of clothing is relatively high, especially the brand clothing, and the premium varies from 35 times to 10 times twenty times.

The higher the premium rate is, the higher the discount rate will be.

Wang Zhonggang, a former deputy general manager of the fashion Logistics Department, said to the financial business of the first financial daily, that for customers, online shopping is a price ratio. In the case of collective sales promotion, other categories are far less than clothing.

Its fashion brands include ONLY, VERO MODA, JACK JONES and SELECTED. Among them, JACK JONES became the first store to sell hundreds of millions of dollars in Tmall's online shopping activities this year. The total Alipay turnover was more than 119 million yuan, while last year's data was only 30 million yuan.

Wang Zhonggang said: "online sales in the short term seems to be for clearing stocks. In the long run, enterprises want to be on the same track and offline, but this mode is still being explored by all garment enterprises."

On the whole, the sale of clothing listed companies in the "double eleven" is far less than the explosive growth of JACK JONES, but the financial data also show that e-commerce channels play an irreplaceable role in the digestion of apparel enterprises inventory in recent years.

The main business of American Apparel, which is the main leisure apparel, is 162 million yuan, which accounts for 1.63% of the total sales volume of the e-commerce website in 2011. The half year report shows that the "state purchase" business income is 317 million yuan during the reporting period, accounting for 6.7% of the total business income of 4 billion 600 million yuan during the same period.

The seven wolves, the main brand of men's clothing, are not as high as those of American state clothes, but the contribution of e-commerce to the company's sales revenue has also increased significantly from the earnings data.

The 2011 Annual report shows that the company's operating income from the online sales channel during the reporting period was 106 million yuan, accounting for 3.63% of the total business income of 2 billion 920 million yuan. This year's semi annual report shows that in the first half of this year, the sales revenue of the company's electricity supplier was 76 million yuan, accounting for 5.11% of the total business income of 1 billion 486 million yuan, while the sales revenue of the semi annual report increased by 137.5% over the same period last year.

"Although the gross profit margin of apparel products sold online is generally less than 10%, it appears to be a very small profit business, but it is still very difficult to define how much inventory should be consumed by the electricity supplier."

An analyst who asked not to be named by the Great Wall securities told reporters that there are many ways for clothing enterprises to go inventory. The high-end brands will take inventory to new stores or big stores to do different kinds of collocation promotions, and the discount rate is low; or get the outlets to deal with, the proportion of digestion is increasing.

"At present, the use of electricity suppliers to inventory or many brands are on the way."

Sales surge hidden worries

Seven wolves

Zhong Tao, director of the Department, said publicly after the "double eleven" that during the double eleven period, sales of several brands of the seven wolves had exceeded 10 million yuan, especially the seven wolf wolf flagship store.

Zhong Tao said: "the seven wolves are now a traditional enterprise or an electric business enterprise. It is really very vague.

Like our leather products, the online scale is even larger than the offline scale. The socks industry in the group is also at the forefront of Taobao and Tmall, and sales are faster than the offline shopping malls and even traditional channels.

The blurring of online and offline sales is the hidden worry of e-commerce to the enterprises.

"Many enterprises are using electricity suppliers to inventory, but we must be cautious in taking this road. We can not simply cut prices because of the high inventory and the rapid development of e-commerce.

The big feature of the electricity supplier is the pursuit of cost performance. In order to get rid of inventory and seize the electricity market, the company only makes the price and does not maintain the brand image, which is very harmful to the brand in the future.

The above the Great Wall securities analysts believe that clothing companies in order to inventory all products prices are very low, after the sale of physical stores will definitely be affected.

"At present, brand enterprises do not have the strength to create a separate online shopping brand in the short term, and can not produce and sell products with high performance price ratio to achieve the same price sale on line, so the digestion of inventory has become the main purpose of online shopping."

Guo Jin securities analyst Zhang Bin said in the research report that due to the constraints of the development stage, most of the traditional brand clothing retail enterprises still regard online shopping as one of the new supplementary channels, but the rise of online shopping actually snatch the consumption demand of physical shops, which is not conducive to the management of physical shops.

"The key to digest inventory is to make products sell well, reduce terminal pressure, and online shopping spawned inventory growth in essence."

Zhang Bin believes that online shopping is conducive to brand enterprises to digest inventory in the short term, but it is not conducive to long-term development of brand enterprises.