Boom in Clothing and Footwear Retailing in China: Ken Research

1
Boom in Clothing and Footwear Retailing in China
Ken Research
2

• Clothing and footwear is projected to grow at a
  CAGR of 23.93 and 26.92 respectively over the
  next five years in online spending.
• China is the leading importer of footwear
  products.
• Ken Research recently announced its latest
  publication titled Clothing Footwear Retailing
  in China-Market Summary Forecasts which
  discusses detailed analysis of clothing and
  footwear retailing, leading players, distribution
  channels and consumer trends and the report sheds
  light on how the existing players can use this
  information to capture major share in the market.

3

• Additionally, major trends, Challenges and
  opportunities have also been covered, describing
  the market penetration and future potential of
  each product segment.
• In both the sectors Clothing and footwear, no
  firm can dominate the market because the market
  is fragmented. Now a days competition is at its
  peak. There are so many retailers and also the
  online retailing has cut the shares of existing
  retailers. Online retailing is capturing the
  maximum market share. Economic growth of the
  nation leads to increase in disposable income of
  the Chinese, thereby increase in retail demand
  and also the changing lifestyles is the reason
  behind increase in retail demand.
• Clothing market in China has bright future. This
  market is labor intensive and China has the
  advantage of cheap labor. Huge production is
  taking place and the clothing sector is creating
  huge employment opportunities adding to the
  growth of the country.

4
Todays generation is very particular about their
clothing style and in addition to domestic
brands they demand for international brands too
and spends major part of their earning in this
sector. In china, per capita clothing consumption
is projected to grow at a CAGR of 9.2 over the
next five years. China used to be an exporter of
the footwear products but now the consumption
base has widened and it captures the largest
share of the U.S imports. China had a share of
68.6 of the U.S footwear imports in 2013
which is expected to increase up to 71 by
2018.Manufactures in other countries produce by
keeping in mind the demands of the Chinese
consumers because it is the leading importer.
Chinese economy is in transition phase from
manufacturing driven economy to consumption
driven economy especially in footwear sector.
Footwear market in China is dominated by women
followed by mens footwear and Kids footwear.
There are various distribution channels to meet
the growing demands of the large consumer base
which involves online retailing, retailers,
Malls, Supermarkets and hypermarkets.
5
Footwear enterprises achieved sales revenue of
USD109.5 billion in 2014 and China produced 14.2
billion pair of foot wears. Leather shoes were in
high demand and contributed 65 to the total
sales revenue. Clothing production is more or
less same in the last year. From the business
point of view, these two sectors seem lucrative
but there are some challenges which every
businessman has to face. The rising factor costs
are a very big challenge in this price
competitive market. To capture the large share of
the market, manufacturers need to keep the price
of their product as low as possible as if
competitors price is lower than his price then
he will lose all his market share. High cost of
imported raw material is also adding fuel to the
prices of the products. Also, the governments
concern towards environment and maintaining
quality standards is increasing the cost of
manufacturers.
6
Follow the link to access the table of
content https//www.kenresearch.com/consumer-prod
ucts-and-retail/textile-apparel-and-footwear/cloth
ing-footwear-retailing/29894-95.html Related
Reports UK Womenswear Market 2016-21 The UK
Accessories Market 2016-2021 Contact Ken
Research Ankur Gupta, Head Marketing
Communications query_at_kenresearch.com 91-124-42302
04
7
(No Transcript)