2014 The Fourth Quarter Of The Apparel Industry Macro Retail Data Has Been Better.

The three quarter,

From a fundamental perspective, the garment industry has maintained a moderate recovery trend, and domestic demand is still under pressure from the retail terminal.

According to the statistics of the General Administration of customs, China's textile and apparel exports totaled US $221 billion 900 million in 2014 and September, and the impact of the sharp decline in exports in February was removed. The 1 to September growth of 8.3. was 1

In terms of domestic demand, according to statistics, clothing sales volume of 100 and 50 key large enterprises in August increased by 8.6 and 8.8 compared with the same period last year, reaching a new high of the year.

This is mainly due to the low base last year and the promotion of sales this year.

In addition, from the total retail sales of consumer goods, the growth rate in August and September was around 12, and the growth rate in the four quarter is expected to remain above 10.

We believe that there is still some pressure on the retail terminal of the industry. In the long run, it is still necessary to rely on the innovation of enterprises.

Entering the 2014, we have been emphasizing the new trend of consumption: cost performance has become one of the main factors to decide whether to consume or not. Besides, the importance of service quality is also gradually improving. This trend will continue for a long time in the future.

This is because: first, the change of product structure in the upgrading of consumption.

The new round of consumption upgrading structure has changed, consumption upgrading of mother and infant, education and so on has been put on the agenda. Second, the rational trend of consumption regression is obvious under the economic slowdown.

Looking at the history of economic development in the US and Japan, consumer goods giants such as UNIQLO and GAP in the United States will be born whenever the economy slows down. Third, the Internet has eliminated most of the information asymmetry, and price wars and brand wars have become the past.

We value the consumption leader who underestimates the value.

Leading enterprises in the industry adjustment period has more advantages, resources are more, industry shuffling under the adjustment is more thorough.

Judging from the projected three quarterly report, the industry continues to show performance differentiation. It is expected that the trend will be more significant in the first half of next year, for example, the pressure on men's clothing industry is still greater.

Taking into account the fact that the macro retail data of the garment industry has been improving, we believe that the worst time for the industry has passed. We can expect the experience and inspiration from this industry adjustment to bring the enterprises more vigor.

Industry adjustment period, thinking and changing, only rely on

The strategy of selling products will be eliminated, and the era of products being king and service supremacy is coming.