Women's Underwear Industry Is Growing Large, And High-End Brands Are Facing Opportunities.

On the whole, the promotion of women's economic capabilities and the enhancement of their self-consciousness have made women's underwear industry in China grow faster than other countries. The development history of modern women's underwear has entered a century, but the growth time in the domestic market has lasted for more than 30 years.

Market growth of women's underwear industry in China at this stage space Compared with the United States and other western countries, the market competition pattern is still basically stable, but the market concentration needs to be further improved. With the deepening of domestic consumption upgrading, consumer demand has changed. Consumers are more willing to choose underwear with high comfort and moderate price. In terms of market financing, the platform for financing in 2018 is mostly net born brand, but offline stores as an indispensable sales channel for all underwear manufacturers, have also made some netting brands start to line up, so as to enhance their market competitiveness.

Women's underwear industry chain: Offline stores are still indispensable for industry manufacturers.

Generally speaking, the main raw materials for women's underwear industry are all kinds of woven fabrics or non-woven fabrics, with sponge, edge, shape yarn, bone glue, shoulder straps, etc. the cloth fabric has a larger proportion in the production cost of underwear enterprises. Among them, bra in bra is the most processed product with the most materials and the most difficult design. Because of the complexity of its structure and the different materials used in different parts, its material is rather complicated, but in general, its main fabrics are cotton cloth, chemical fiber cloth or silk cloth. Downstream underwear industry mainly refers to general merchandise, monopoly and other retail terminals. At the present stage, the competition structure of female underwear manufacturing industry in China is relatively stable. The top three manufacturers are urban beauty, love and Hui Jie shares. Besides, other leading enterprises in the industry are also listed on A shares and Hong Kong stocks, and these underwear manufacturers are mainly concentrated in the Pearl River Delta, Yangtze River Delta and other industrial agglomeration areas.

There is still room for growth in the market, and there is great potential for market concentration.

On the whole, the promotion of women's economic capabilities and the enhancement of their self-consciousness have made women's underwear industry in China grow faster than other countries. The development history of modern women's underwear has entered a century, but the growth time in the domestic market has lasted for more than 30 years. From the domestic female underwear market retail sales and growth rate, ahead of the United States and Japan. According to Euromonitor statistics from international authoritative institution, the retail sales of Chinese women's underwear market in 2018 was about 161 billion 300 million yuan, up 7.2% over the same period last year. And the composite growth rate of these 6 years is 8.1% from 2012-2018 years. According to Euromonitor, the Chinese underwear market will reach 197 billion 300 million yuan by 2022.

From the number of women's per capita underwear, the number of women's underwear in China is increasing. According to the statistics of China Statistical Yearbook 2018 and WAN de data, the number of women aged 16-59 years old and the average annual underwear size of Euromonitor are estimated by the prospective industry research institute. The number of bra holders per capita of Chinese women has increased year by year, from 3.6 in 2014 to 4.87 in 2017. It is estimated that in 2018, Chinese women will have 5.02 pieces of underwear per person per capita.

The forward-looking Industry Research Institute believes that China's demographic dividend has not yet been fully realized for women's underwear industry. First of all, the basic age of women in China is large, and women in the 16-59 year old age range are basically above 400 million. Secondly, the overall consumption of lingerie has been upgraded in China, and the demand for different scenes has gradually increased. With the increase of per capita disposable income and the change of consumption concept, the per capita expenditure of underwear in China is expected to continue to grow.

However, despite the development of Chinese women's underwear industry after twenty-first Century, there is still a huge gap compared with other developed countries. According to the per capita consumption of women's underwear, the average per capita consumption of Chinese underwear is still at a low level. The annual consumption per capita is only 20.2 dollars, which is only about 1/4 of some developed countries in Europe and America. With the awakening of domestic women's awareness of underwear consumption and the internationalization of consumption concept, there will be huge room for development of domestic women's underwear market.

China's modern underwear industry has been developing for more than 30 years. Underwear manufacturers mainly concentrate on the Pearl River Delta, Yangtze River Delta and other industrial gathering areas. At present, the city beauty, Hui Jie share, Wacoal, Embry Form Leading enterprises in other industries are listed on A shares and Hong Kong stocks. According to Ou Rui data, the top three of China's women's underwear industry accounted for the top three of the city's beauty, love and Hui Jie shares. These enterprises have maintained a stable competition pattern in recent years. From the perspective of industry concentration, the market share of CR3 industry is only about 7%, which needs to be further improved.

Consumer demand has changed, and high-end underwear brands are facing opportunities.

At the same time, the rapid development of China's economy and the rapid growth of residents' income have led to the demand of the high-end underwear market. The demand for underwear has gradually increased from the basic functional requirements of style, fabric and process quality to the high level demand for attribution and emotional value. According to the women's underwear consumption behavior obtained by NetEase's number reading, it can be seen that there are two important characteristics of the women's underwear market in China at present. One is that quality and comfort are the focus of underwear purchase, and the comfort level of the most number of purchase comments is 3427.

Two, underwear price sensitivity is low, middle end price underwear is far higher than high-end and low end. From NetEase's familiar statistics, it can be seen that the number of underwear with a price of more than 500 yuan is 3%, the underwear quantity between 100-500 yuan is 60%, and 100 yuan is less than 36.7%.

Participants increased and market heat increased.

At the present stage, China's listed companies with underwear as its main business are mainly divided into two categories: One category focuses on products and channels, such as an Li Fang, a city beauty, Hui Jie, and so on, and a kind of surface accessories that focus on the upper and middle reaches, such as surpass international, virgin and so on. In addition, some leisure and fashion enterprises with relatively prominent scale effect and relatively perfect industrial chain have expanded product categories, involving or beginning to involve underwear fields, such as UNIQLO, Hai Lan's home, Taiping bird and so on. The scale of China's underwear market still has room for growth. Under the new retail background, some vertical platforms and brands based on the Internet have begun to show strong vitality, and some brands have begun to operate under the line, such as inside and outside.

It is worth mentioning that at this stage, high-end brands in Chinese women's industry are mainly occupied by foreign brands, and domestic brands mainly occupy the low-end market. Such as Ann Li Fang, Ttiumph, Finn and man Ni fan are the most famous high-end brands in China's underwear industry. Many underwear brands in China, such as city beauty, master and Lun Sha, occupy the middle end market; the low-end market brands are mainly wholesale, such as Shu Wei, pearl, Dai Li, etc.

At present, the market concentration of underwear industry in China is still improving. Traditional enterprises tend to develop into multi brand and multi category, and the emergence of network brand is fast and shows amazing vitality. According to incomplete statistics of IT oranges, the domestic underwear industry has about 200 million yuan investment and financing amount in 2018.

The forward-looking Industry Research Institute believes that the emergence of domestic underwear brand can not be separated from the following four reasons: First, these brands are mostly based on the Chinese context, giving the domestic consumers a sense of cultural identity; two, the competition among the Internet brand brands focuses on differentiated development, with the emphasis on light luxury and underwear fashion, and the emphasis on data customization. The three is that these brands have strong product iteration capability and support the continuation of the brand; the four is the innovation of channel and marketing. Compared with the traditional underwear platform, online brand marketing of online brand takes more mainstream and hot spot copywriting, and these emerging brands are highly sensitive to marketing, especially in publicity, paying attention to the balance between tonality and marketing.

Offline stores can not be missing, brands enjoy their own channels of online traffic dividends.

As the leading lingerie company's versions are self-developed, there are also differences in the size system, which makes it difficult for consumers to purchase. In order to buy underwear that fits their own bra, try it on and become an important part of purchasing. Through trying out different models and styles, supporting effect, fitting effect and comfort of products, it is indispensable for women's underwear store.

With the weakening of the demographic dividend brought by smart phones, online shopping has gradually become a competition in the stock market, and the cost of acquiring traffic is higher and higher, even more than offline. In the underwear industry, because of its high brand loyalty, when women choose underwear online, they will directly search for familiar underwear brands and purchase online through offline fitting and experience. The layout of leading enterprises' stores, such as the urban beauty, at the end of 2018, there were 1406 brand terminals and 5899 outlets in the whole country.