2017中国服装和鞋类行业报告_12页

Summary of Apparel and Footwear in China (February 2017)

Core Content

The report provides an overview of the apparel and footwear market in China from 2011 to 2016 and forecasts for 2016-2021. It highlights the market's steady growth in value despite a slowdown in volume growth, driven by increasing consumer demand for quality and trendy products. The market is highly fragmented, with sportswear emerging as a standout category due to rising health consciousness and the influence of the Rio 2016 Olympics. Internet retailing is also gaining traction, contributing significantly to the overall market.

Main Points

• Market Growth:

  • Apparel and footwear maintained steady value growth in 2016, with women's apparel outperforming men's in terms of value growth and total sales.
  • Childrenswear showed stronger growth due to the implementation of the two-child policy and the Year of the Monkey in 2016.
  • The overall market is expected to continue with modest value CAGR in the forecast period.

• Sportswear Performance:

  • Sportswear, particularly sports footwear, recorded double-digit value growth in 2016.
  • It is increasingly accepted as casualwear and there is growing demand for professional sportswear, such as gym suits.
  • Sportswear-focused manufacturers like Nike (China), Adidas Sports (China), and Anta (China) are among the top players in the market.

• Market Fragmentation:

  • Nike (China) overtook Bestseller Fashion Group in 2015 and remained the market leader in 2016.
  • The market is highly fragmented, with many local and international brands competing.

• Internet Retailing:

  • Internet retailing accounted for 25.9% of the value sales in 2016, up from minimal presence in 2011.
  • Leading platforms such as JD.com, Tmall.com, and VIP.com have seen strong growth due to wide product selections, competitive pricing, and convenient delivery.
  • Manufacturers are expanding their online presence to reach lower-tier cities.

• New Concept Stores:

  • Bricks-and-mortar stores are upgrading to new concept stores to provide a lifestyle experience.
  • Examples include Cabbeen Life in Shanghai and JNBY's concept store in Beijing, which integrate art and lifestyle elements.
  • These stores are expected to become more popular in the forecast period as they cater to the demand for enhanced shopping experiences.

• Smart Wearables:

  • The State Council encouraged the development of wearable sports equipment, which has become a trend in sports fashion.
  • Smart wearables, such as Li Ning's Chitu running shoes with a Huami chip, are used to monitor performance and improve training.
  • These devices are projected to drive growth in segmented apparel and footwear categories, such as running, yoga, basketball, and football.

Key Trends and Developments

• Two-child Policy:

  • The full implementation of the two-child policy positively influenced childrenswear growth.
  • Childrenswear and children's footwear are expected to grow at a CAGR of 6% in the forecast period.
  • The trend towards smart children's footwear is anticipated to continue, with brands like Li Ning collaborating with technology companies.

• Consumer Sophistication:

  • Young parents are more cautious about children's products, seeking higher safety standards.
  • The rising middle-class and disposable income are expected to boost expenditure on children's apparel and footwear.

• Online Brand Expansion:

  • Online brands are establishing offline stores to enhance the shopping experience.
  • For example, Inman plans to open 1,000 outlets across the country in the forecast period.

Market Data Highlights

• Volume Growth:

  • Apparel and footwear volume grew steadily from 2011 to 2016.
  • Apparel showed a CAGR of 5.3%, while footwear had a CAGR of 6.3%.
  • Sportswear had a higher CAGR of 5.6% due to its strong performance.

• Value Growth:

  • Apparel value grew at a CAGR of 6.9%, and footwear at 6.7%.
  • Sportswear had the highest value growth, with a CAGR of 5.6%.
  • In 2016, sportswear accounted for 31.6% of the total value sales.

• Market Share:

  • Nike (China) Inc had the highest market share in value sales, increasing from 1.5% in 2012 to 1.9% in 2016.
  • Other notable brands include Adidas Sports (China), Anta (China), and Li Ning Co Ltd.

• Distribution Channels:

  • Store-based retailing dominated the market, accounting for 74% of value sales in 2016.
  • Internet retailing is growing rapidly, with a share of 25.9% in 2016.
  • Non-grocery specialists and mixed retailers are also significant contributors.

• Forecast Data:

  • Apparel and footwear are expected to grow in both volume and value from 2016 to 2021.
  • Apparel is forecasted to have a CAGR of 2.3% in volume and 2.1% in value.
  • Footwear is expected to grow at a higher rate, with a CAGR of 4.4% in volume and 3.0% in value.
  • Sportswear is projected to continue its strong performance, with a CAGR of 5.6% in value.

Key Insights

• The market is driven by consumer demand for quality, style, and health-conscious products.
• Internet retailing is a growing force, changing the way consumers shop for apparel and footwear.
• New concept stores are becoming a key strategy for brands to engage with consumers and enhance the shopping experience.
• Smart wearables are revolutionizing the sports fashion industry, offering data-driven insights for both consumers and athletes.
• The two-child policy and rising middle-class income are expected to continue supporting the growth of childrenswear.