Forecast And Analysis On The Current Situation And Development Trend Of China'S Clothing Market 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.

In recent years, China's clothing market presents a steady growth trend. According to the relevant data of the National Bureau of statistics and the General Administration of customs, in 2019, the retail sales of consumer goods per unit above the quota in China will reach 14.8 trillion yuan, a year-on-year increase of 3.9%. Among them, the total retail sales of clothing goods of units above the quota is 1.35 trillion yuan, and the clothing production of Enterprises above Designated Size in China's clothing industry has reached 24.472 billion pieces. 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

Clothing market can be divided into women's wear, men's wear, children's wear and other categories according to the consumer groups. Among them, women's wear is the most important part, which has the characteristics of various demands and categories, and has the largest market scale and development space. Because women have a higher aesthetic pursuit and a higher sensitivity to fashion, their demand for clothing is far greater than that of men. According to Euromonitor data, children's wear, men's wear and women's wear accounted for 10.92%, 27.17% and 47.62% of China's clothing market share in 2019, of which the sales of women's clothing was 1.04 trillion yuan, more than the sum of men's and children's wear.

Data source: Euromonitor and China Business Industry Research Institute