Chinas 1.3 billion population constitutes a big market for garments, and one that's growing year by year. Based on figures published by Euromonitor, Chinas adult clothing market was worth around RMB1, 457.8 billion in 2017, a rise of 5.2% year-on-year. Market value is likely to reach RMB1, 592 billion by 2019. Garment brands can be split into two categories. The first includes a growing preference for luxury and high-end brands, brands, aimed at spending power, and an issue for garment caliber and purchasing experience.
The second adopts a mass market strategy and, like Uniqlo, Zara and H&M offer cheap and classy clothes particularly favored by young customers.
Garment marketplace: Euromonitor data reveals the Chinese garment market was worth around RMB923. 2 billion in 2017, a rise of 5.7% during the last year. Of this, women's underwear revealed the fastest growth, with a 7.8% growth. Market value is likely to reach RMB1, 096.1 billion by 2021. The need from women for clothes with style is with designer labels and limited edition style, market brands. Garment market: The consumer marketplace for garments that are men is currently undergoing a growth period. According to Euromonitor information, the garment Marketplace in China was worth RMB534. 6 billion in 2017, an annual growth of 4.4%.Of this, men's underwear revealed the fastest growth with an annual growth of 6.5%. Market value is likely to achieve RMB620.
3 billion by 2021. They're seeking on-trend clothes, that has subsequently boosted demand for quality garments as men have become more particular about their appearance than before. The market is offering a wide variety of men's clothing, apart from formal suits, streetwear and also crossover style are also attracting growing interest from the younger generation. Children's garment market: According to China National Bureau of Statistics, in 2017 there were approximately 247 million kids under the age of 15 in China.
Furthermore, 17.23 million new babies were born. This underlines the likely colossal size of the children's garment market in the next few years. According to Euromonitor data, the mainland children garment Marketplace was worth RMB179. 6 billion in 2017, a calendar year-on calendar year growth of 14.3%.Of this, baby clothes revealed the fastest growth with a 17.2% increase. Based on A Marketplace survey conducted by HKTDC on Chinas baby and children's clothes market in 2017, respondents usually indicated a preference for purchasing at physical shops in spite of the rising on-line market. The reason they gave was that at physical stores that could personally feel the caliber and thickness of clothes and avoid the problem of color discrepancy, which might occur in shopping online.
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