Status of development of the textile and clothing industry

1. Market size

In 2022, China's retail sales of apparel goods in units above the quota accumulated 977.81 billion yuan, up 2.6% year-on-year. from January to February 2023, both total retail sales of consumer goods and retail sales of apparel goods achieved faster growth due to the effect of the Chinese New Year and optimisation of epidemic prevention and control policies. Among them, the cumulative retail sales of apparel goods of units above the limit amounted to RMB 189.48 billion, up 6.4% year-on-year. Chinese apparel enterprises are gradually developing in the direction of high-end and branding.

2. Consumption trend

According to the survey of S&P Consulting, in 2022, the proportion of online consumption of apparel consumers will be 62.0%, and the proportion of offline consumption will be 38.0%; the top three types of apparel consumers' preference will be casual style, sports style, and the style of keeping up with the current season's popularity, which will account for 59.5%, 45.6%, and 29.0%, respectively. This shows that consumer demand for clothing is more diversified and personalised, while also paying more attention to comfort and functionality.

The influence of national fashion brands in the field of clothing is increasing day by day, and the rise of "Generation Z" has gradually become the main crowd of clothing consumption. The rise of national products has boosted brand upgrading, and with the enhancement of consumers' national self-confidence and the rise of the young generation of consumer groups, consumers' recognition of national fashion brands has increased. ShangPu consulting survey shows that in 2022, China's apparel "generation Z" consumers monthly purchase frequency is 3.4 times, the average amount of each purchase is 386 yuan; compared with last year, the purchase frequency increased by 16.4%, the purchase amount increased by 14.9%. This shows that Generation Z consumers have a strong demand for clothing and are willing to pay more for their favourite brands and styles.