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Clothing consumption to usher in golden decade
01
Mar '11
Data recently released by the Ministry of Commerce reveals that the 3000 domestic key retail enterprises monitored by the Commerce Department achieved an annual increase of 26.6 percent in sales performance in January.

Among them, sales of clothing rose 37.2 percent year on year. The growth rate accelerated by 18.2 percentage points when compared with December 2010.

The industry generally believes that the Chinese domestic apparel industry will continue to be a powerful driving force of the industry in 2011 and clothing consumption will usher in a glorious growth in the current decade.

Vice executive president of China National Garment Association Chen Da Peng points out that domestic demand has been greater than export market in recent years. This has led to domestic demand becoming a powerful force in promoting development of China's garment industry.

In the future, the huge domestic market will be the main competitive battlefield for apparel brands.

In addition, the report of the China National Garment Association also makes it clear that it is one of the core themes in 2011 policy of Chinese economy to expand domestic demand and consumption.

According to a relevant report, total retail sales of social consumer goods grew 18.4 percent in 2010, of which, wholesale and retail sales of clothing were up 24.8 percent, which was 6.4 percentage points higher than the average growth rate.

Fibre2fashion News Desk - China


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