In 2020, China Will Become The Second Largest Clothing Market In The World.

By 2020, China will become the second largest clothing market in the world, and the growth rate in the next five years will account for 30% of the global market growth.

Dan Cotton, Asia Pacific General Manager of WGSN group, the global fashion and retail information service provider, recently visited the China Textile and garment brand pioneer park in Songjiang, Shanghai. It pointed out that in the expansion market, Chinese clothing brands and manufacturers must increase their share of the market. It is necessary to determine consumers' demand information in advance, rather than months, to accurately judge the competitive advantages brought by it will be far beyond the low cost and manufacturing capacity.

According to Cotton, China's shoes and clothing consumption accounts for 35% of the total share of the top ten cities such as Beijing and Shanghai. From the per capita perspective, China's per capita clothing consumption is still lower than that of the mature market, and there is still room for considerable growth.

Predicting China's next five years

The average annual growth rate will reach 11%, reaching $4 billion by 2020.

But the expansion of the market does not mean the arrival of the spring of clothing manufacturers.

Hu Song, deputy director of China Textile Information Center, admitted that many of the problems faced by many garment enterprises are inventory and customs clearance. In Fujian, one of the major cities in the garment industry, "can we continue to produce" has become a hot topic for many managers.

"The future," he said.

The center of gravity is still fashion oriented, to see whether vendors can stimulate consumers' enthusiasm for purchase.

This view has also been recognized by Cotton. "The development of the garment industry can not rely solely on productivity," Cotton said.

And manufacturers, especially in the lucrative high-end apparel industry, information differentiation has become the key to their larger market share.

Nowadays, many domestic garment manufacturers have begun to pform from manufacturing intensive industries to creative fashion industries, and seek advisory services on consumer insights and market strategies.

It has been revealed that WGSN only had its first Chinese customer in 2005, and the figure has increased to 500. These Chinese customers have brought about 33% of the revenue to the WGSN Asia Pacific region and become the largest market for the latter in the regional market.

In April this year, WGSN Group signed a cooperation agreement with China Textile Information Center, and will speed up the introduction of local content and services.