Insight into consumer preferences and study the new trend of China’s clothing retail market
In the context of recurring epidemics, the lifestyles and shopping habits of consumers in China and around the world have undergone tremendous changes, and consumers have become more cautious. Factors such as the impact on offline consumption, the rise of online consumption, and the decline in consumer confidence have made China’s clothing retail market full of uncertainty. Industry companies urgently need to adapt to changing consumer preferences and take the initiative to grasp the pulse of the market.
On August 17, Mr. Zhang Ligang, senior account manager of Asian supply chain marketing at Cotton Incorporated, joined forces with the China Women’s Clothing FabricFashion Trends Research Institute to conduct a live broadcast through the “CTIC Fashion Institute” platform Here comes “Priority Reset: Continuously Adapting to Consumer Preferences – 2022 Latest China Clothing Retail Market Research Report”. Zhang Ligang made an in-depth analysis of China’s apparel market in 2022 from three dimensions: the impact of the epidemic on China’s apparel market, consumers’ love for denim, and consumers’ concern for environmental protectionsustainability The latest trends in the retail market help industry companies to flexibly respond to market changes, overcome fixed mindsets, and adjust development ideas.
Insight into trends and analyze consumption preferences under the epidemic
Based on Cotton Incorporated’s survey of Chinese consumers, Zhang Ligang explained in detail the changes in consumer preferences affected by the epidemic and analyzed the future development trends of the clothing retail market.
“The survey shows that two-thirds of Chinese consumers say they now stay at home more often. More than 80% believe it will take some time before they feel safe in shopping malls, which has prompted Chinese consumers to visit more Shopping online. Online shopping retail sales will grow significantly from 2020 to 2021. In 2022, nearly 40% of China’s retail sales are expected to come from e-commerce, reaching nearly 26 trillion yuan.” Zhang Ligang emphasized the surge in online shopping preferences Leading many brands and retailers to reimagine how they utilize physical store space. Most consumers say they shop in-store for the experience, so brands and retailers should redesign physical stores to create immersive experiences for consumers, thereby enhancing the brand’s image in the minds of consumers.
“Chinese consumer confidence has dropped significantly since the beginning of this year and is at the lowest level in the past 10 years.” Zhang Ligang analyzed that the decline in consumer confidence may be due to the increasing concerns of Chinese consumers, including health care and the surge in epidemic cases. worries rose to the top of the list, followed closely by concerns about future uncertainty, inflation and personal finances.
“More than a third of consumers say they plan to spend more on clothing in the coming months. However, if the epidemic continues to cause shutdowns or inflation causes the price of basic items to rise, this means consumers must not If the money spent on clothes is not reduced, clothing consumption may slow down.” Zhang Ligang pointed out.
“Looking to the future, the growth rate of China’s apparel market is expected to be close to 7% in 2022. In the next five years, total apparel expenditure is expected to increase by 37%, reaching approximately US$460 billion.” Zhang Ligang added that in addition, affected by the epidemic, The types of clothing consumers plan to buy are still mainly casual wear and sportswear.
Looking forward to opportunities and tapping the potential of the denim market
Zhang Ligang focused on consumer experience, analyzed the main motivations for consumers to buy jeans, shared the opportunities contained in the denim market, and pointed out the direction for industry companies to develop products in the denim field.
Zhang Ligang analyzed that one of the biggest changes in dressing style after the epidemic is that consumer preferences shift to more comfortable, casual and fashionable clothing. Because jeans are comfortable to wear, people often wear jeans when working from home, and many workplaces have relaxed or plan to relax dress codes, which further encourages consumers to wear jeans at work. In many activities outside of work, jeans are also a popular choice among Chinese consumers. Four out of five Chinese consumers say jeans are their preferred casual wear.
Nearly half of Chinese consumers said they plan to buy more jeans this year than last year. It is expected that by 2026, jeans sales will grow strongly by 19%, reaching nearly 113 billion yuan. Zhang Ligang pointed out that by type of jeans, economical and standard jeans account for the majority of China’s jeans sales, accounting for nearly 66% of the market. Over the next five years, mid-priced standard jeans will see the fastest growth, followed by premium and ultra-premium jeans.
“Comfort and fit are the biggest motivations for Chinese consumers to buy jeans, followed by quality and versatility.” Zhang Ligang said that more than two-thirds of Chinese consumers consider fit to be very important when purchasing jeans. More than four in five people are willing to pay more for jeans when they find the right fit.
“As consumers become more and more environmentally aware, it is increasingly important for consumers to buy more sustainable denim.” Zhang Ligang emphasized that denim uses natural fibers, is recyclable, and has workers’ safety. Factors such as entitlement wages and the reduction of chemicals and water in the production process will affect consumption.People buy jeans.
Focus on environmental protection and explore sustainable fashion
Zhang Ligang conducted an in-depth analysis around the three core pillars of recycling of clothing products: reuse, recycling, and degradability, and provided innovative solutions for sustainable product development by industry companies.
“Promoting clothing quality and durability will help extend the use and reuse stage of the circular economy.” Zhang Ligang said that 94% of consumers in China choose quality over price. Consumers want good quality, so products need to be designed to ensure quality and durability. Nearly two-thirds of Chinese consumers believe that compared with other fibers such as rayon and polyester, cotton clothing has the longest and most sustainable service life. .
Zhang Ligang pointed out that the next pillar of recycling is recycling. Nearly nine out of 10 consumers say they are interested in recycling old clothes and making them intonew products other than textiles, as long as the same level of quality is maintained. Cotton Incorporated’s BLUE JEANS GO GREEN™ program, launched in 2006, is a project to collect distressed jeans from consumers. The project keeps worn jeans out of landfills while converting them into insulation materials that can be used in homes, food packaging, pet beds and other uses.
The final pillar of recycling is biodegradability. Nearly three-quarters of Chinese consumers say it is important for clothing to be made from biodegradable materials. Cotton Incorporated, in partnership with North Carolina State University, found that after 30 days, cotton degraded by more than 90 percent in wastewater, 80 percent in fresh water, and nearly 50 percent in salt water, and was completely durable in all of these environments. degradation. Zhang Ligang emphasized that as a plant and natural fiber, cotton is essentially recyclable.
AAA
Disclaimer:
Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights and interests, please contact us and we will change or delete it as soon as possible.
AA
