Forecast of the development prospects of the apparel industry in 2021

1. National strategies and policies support industry development During the "13th Five-Year Plan" period, we will focus on improving development quality and efficiency, promote supply-side structural reforms as the main line, and focus on the "three products" strategy of increasing varieties, improving quality, and creating brands to enhance industrial innovation capabilities and optimize industries Structure, promote intelligent manufacturing and green manufacturing, form new development momentum, create new competitive advantages, promote the industry to move toward the middle and high end, and initially become a textile power. The share of textile and apparel exports in the global market remained basically stable. The growth mode of the textile industry has shifted from scale and speed to quality and efficiency. 2. Further expansion of market scale Nowadays, consumer demand is not only the product itself, but the definition conversion from product to commodity, and the requirements for clothing are getting higher and higher. Affected by the epidemic and the rapid development of online channels in recent years, the decline in the performance of retail physical stores is the general trend. However, a number of mainstream retail e-commerce platforms have gradually cultivated the habit of online shopping for young consumers. In particular, the e-commerce industry will experience a blowout growth in 2020, and it is expected that the average growth level will resume in 2021. 3. The improvement of material living standards and the change of consumption concepts promote consumption upgrading With the steady growth of my country's economy and the continuous improvement of residents' living standards, it has provided material guarantee for the development of the clothing market. The steady increase in the income level of residents has directly formed strong consumption power and purchasing power in the consumer market. The per capita disposable income of urban residents and rural residents has maintained rapid growth, which has ensured that the consumption ability of residents at all levels and regions has increased significantly. 4. The rapid rise of shopping mall stores and e-commerce have gradually become major channels Compared with traditional channels such as department stores and brand stores on the street or in the community, shopping malls and online e-commerce have developed extremely rapidly as emerging channels in recent years. In terms of online channels, with the development and popularization of Internet technology, especially mobile Internet, and the rapid development of the logistics industry, online channels have become important sales channels for companies to explore markets.