“According to data from the National Bureau of Statistics and the Customs Department, China’s clothing retail growth and clothing export growth turned to positive growth for the first time this year in August, and the growth rate increased again in September, which is a good sign. Other major indicators The decline narrowed slightly in August, and the market has recovered. However, these data are still in the declining range, which shows that the clothing industry is still facing greater pressure!
Due to the large inventory of fashion products, this spring There is almost no consumption, so the situation in the textile and garment industry in the spring of 2021 will still not be ideal, when the spring models of 2020 will be sold. She expects that new orders next spring will only be 30% of the same period. “The market cannot be predicted now. It is expected that next year Autumn and winter will only recover 40%-50%, and it may take until 2022 for the market to fully recover. “
Hu Dongmei, general manager of Dalian Dayang Group, has been looking for new customers recently. “The company is like going back to when it was started from scratch 40 years ago. ”
Dayang is China’s largest suit manufacturer and one of the world’s largest suit customization companies. Its revenue growth has remained at 40% in recent years, and 80% of its orders are contributed by overseas markets.
In 2020, such good times will no longer exist. Hu Dongmei estimates that this year’s revenue will fall back to the level of 2017. Until the fourth quarter, the impact of the epidemic on the clothing retail industry has not subsided. As far as suit consumption is concerned, in In the world’s major consumer markets, whether it is professional suits, wedding dresses, funeral dresses, social or event dresses, sales have been greatly reduced.
Dayang Group is not an exception. Guangdong, one of the world’s largest shirt manufacturers Esquel Group’s foreign trade orders are expected to drop by 30%-40% in 2020, and the annual revenue of Shandong Qili Group, Uniqlo’s core supplier, has also declined by the same scale.
China from January to August 2020 Key data of the apparel industry
Data source: China National Bureau of Statistics, China Customs data
