Textile And Garment Industry Is Expected To Recover Weakly In 2016.

With the improvement of the consumption ability of domestic residents, the demand for mass underwear has been released rapidly.

The upgrading of household consumption is moving from low frequency to high frequency, and home textile pformation is also facing an opportunity period.

2016 is expected to maintain a weak recovery trend.

After more than three years of adjustment, the demand side of the industry has not improved significantly, but the upward trend of the inflection point has been established.

In the first three quarters of 2015, industry revenue increased by 1.4% (0.91% in 2014), benefiting from positive pformation, business extension and other revenue contribution, and profit side performance was significantly better than revenue side, an increase of 17.7% over the same period last year.

But by the whole domestic and foreign

Domestic and foreign demand is still hard to see. The domestic demand is expected to remain at around 10% next year, and the elasticity of export demand is also limited.

We propose to look for structural opportunities and look at the following three major directions:

First, the favorable policies and the Winter Olympic Games stimulate the sports consumption.

Unlike the first round of sports before China's 2008 Olympic Games, we believe that this round of sports goods market has entered the new stage of "quasi sport + fashion trend" from "light sports + Leisure tide", and the consumption movement has stronger attributes.

In 2014, the end of China's sporting goods continued to decline in 2008, and for the first time it resumed a positive growth of 5.4%.

We recommend the following three lines to nugget sports industry opportunities: local sports leading enterprises, companies with overseas sports brand capabilities and sports ecosphere resources integrators.

Two is

From the inside out, the demand for mass underwear quickly releases.

With the improvement of the consumption ability of domestic residents and the maturity of underwear consumption consciousness, the demand for underwear is improved. From the aspects of style, fabric, process quality, health and comfort, public underwear is the fastest growing market segment.

According to frost&sullivan data, the composite annual growth rate of the mass market in 2009-2013 years is 21.7%, higher than that of the low-end market and 7.9% of the top grade 8.6%.

Because the underwear category has the characteristics of high technological threshold, we should value the brand with the advantage of supply chain, and suggest that we should pay attention to Hui Jie shares and Jenson group.

Three, the upgrading of household consumption is moving from low frequency to high frequency.

Usher in the opportunity period.

In the 2007-2012 year, the annual compound growth rate of residents for household appliances was 13%, faster than 12% of clothing and 11% of total consumption expenditure, and 19% of high-frequency household sundry goods and 16% of bed products.

We prefer the daily consumption frequency and the bedding closer to the small household category. The current home textiles exploration category extension, the one-stop retail format of the home museum is worth looking forward to, and recommends the home textile of Luo Lai.