Analysis On The Existing Problems And Development Prospects Of China'S Clothing Industry In 2021

Since the reform and opening up, clothing industry has become one of the important industries in China's economy. As China's dominant industry with international influence, the clothing industry has formed a series of mature clothing production industry chain from yarn production, surface accessories processing to ready-made clothing production. With the overall development of China's economy and the improvement of urbanization level, the quantity and quality of people's material demand have been improved at the same time. With the continuous upgrading of aesthetic requirements, clothing has become the symbol of people's personal style, and the clothing retail industry has become the biggest driving force driving the development of China's textile and clothing industry. According to Euromonitor data, the retail scale of China's clothing market will reach 2.19 trillion yuan in 2019, with a year-on-year growth of 5.29%. China's clothing market has a large scale, and has been growing in recent years. The China Business Industry Research Institute predicts that China's clothing market will reach 2.4 trillion yuan in 2021.

Data source: Euromonitor and China Business Industry Research Institute

Development dilemma of clothing industry

1. Consumers lack of intuitive experience of online store products

Clothing, especially high-end clothing, is a commodity with high unit price. Fabric texture, processing technology and clothing pattern are the important factors that determine the comfort and Consumption Satisfaction of customers. Touch experience and try on experience have a certain role in promoting customers to make purchase decisions. There are some defects in the touch experience and fitting process of online shopping, which affect customers' purchase decision and result in high return rate after purchase.

2. The shortage of professional and technical personnel

In recent years, with the rapid development of China's information construction and the continuous upgrading of network technology, China's online clothing retail has gradually emerged "yinman", "handu Yishe", "split silk", "Rongmei" and other brands. In the rapid development of apparel online retail industry, the continuous competition and learning among industry participants promotes the continuous upgrading and upgrading of the business technology of the whole industry in visual presentation, sales mode, flow promotion and many other aspects. As the guarantee of the competitiveness of online clothing retail industry, there are relatively few talents with online store operation, supply chain management and integrated marketing communication experience in the industry, which limits the overall development of online clothing retail industry to a certain extent.

3. Impact of raw material price fluctuation

In the clothing industry raw material link, the information asymmetry between upstream planting and animal husbandry and clothing production is easy to lead to the mismatch between supply and demand, which makes the price of raw materials fluctuate. At the same time, due to the fierce competition in the retail end of clothing industry, it is difficult for enterprises to transfer the cost to the downstream by adjusting the sales price when the price of raw materials fluctuates, which puts forward certain requirements for the cost control ability of enterprises

Development prospect of garment industry

1. The continuous growth of China's economy and the continuous increase of residents' disposable income

As a consumer industry closely related to the national economy and the consumption level of residents, the steady growth of China's economy has provided strong support and guarantee for its development in recent years. From 2013 to 2019, China's GDP increased from 59.3 trillion yuan to 99.09 trillion yuan, and the total retail sales of consumer goods increased from 24.3 trillion yuan to 41.2 trillion yuan. The steady development of China's overall economy provides a solid foundation for the sustained and healthy development of the clothing industry. With the development of China's economy, residents' disposable income and consumption expenditure are also increasing. The growth of Chinese residents' income and consumption level has become an important driving force for the growth of clothing consumption market.

2. Industrial policies support industry construction and encourage the development of independent brands

With the continuous development of online retail industry, the state has issued a series of industrial policies to promote the development of the industry, such as "some opinions on accelerating the development of e-commerce", "2006-2020 national information development strategy", "opinions of the Ministry of Commerce on promoting the standardized development of e-commerce", "the 13th five year plan" development plan of e-commerce, and "on promoting physical retail innovation" The opinions on the new transformation, the opinions of the general office of the State Council on the in-depth implementation of the "Internet + circulation" action plan, etc., have a great role in promoting the development of online retail brands.

3. Mature and complete clothing industry chain support

Since the reform and opening up, the clothing industry has become one of the important driving forces of China's economy, forming a series of mature clothing production industrial chains from yarn production, surface accessories manufacturing to ready-made clothing production, and has formed a number of mature industrial clusters in coastal areas of China, such as Jiangsu, Zhejiang, Guangdong and so on, gathering a large number of experienced yarn production and surface accessories Manufacturing and garment manufacturing factories provide strong supply chain resources for downstream clothing retailers, which enables them to invest their own resources in brand operation and channel management.

4. The continuous development of Internet economy makes online shopping a trend

In recent years, the scale of China's online retail market continues to expand. According to the data of the National Bureau of statistics, in 2019, the national online retail sales exceeded 10 trillion yuan, with a year-on-year growth of 16.5%. Among them, the online retail sales of physical goods were 8.5 trillion yuan, with a year-on-year growth of 19.5%. The growth rate was 11.5 percentage points higher than the total retail sales of social consumer goods, accounting for 20.7% of the total retail sales of social consumer goods, an increase of 2.3 percentage points over the same period of last year The long-term contribution rate reached 52.3%, an increase of 7.1 percentage points over the previous year.