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China's textile & garment retail sales rise in Jan-Feb'14
18
Mar '14
The retail sales of textiles and clothing in China inched up by 8.7 percent to 216.6 billion yuan in the first two months of 2014, compared to the retail sales made in the corresponding period of last year, according to the latest data released by the National Bureau of Statistics.
 
However, the growth rate in textile and garment retail sales was lower than the 11.8 percent year-on-year rise observed in total retail sales of social consumer goods, valued at 4.228 trillion yuan during the two-month period.
 
In 2013, textiles and clothing retail sales in China totaled 1.141 trillion yuan, registering an increase of 11.6 percent year-on-year.
 
According to the China National Commercial Information Center, clothing retail sales of 50 large-scale retail enterprises in China grew by 4.1 percent year-on-year in 2013.
 
The contribution of the clothing sector in overall retail sales grew by 13.8 percent in 2013, compared to 31.4 percent in 2012. In menswear category, the annual retail sales fell by 0.6 percent, much below the 22.9 percent and 11.3 percent growth seen in 2012 and 2011.
 
The magnitude of sales promotion and discount offers by retailers significantly increased last year, especially in view of the competition with online businesses.
 
According to statistics, the apparel sales price of 50 large-scale retail enterprises fell by 2 percent during the year, which was in stark contrast to around 10 percent rise in previous years. Still, promotion efforts did not yield substantial results for retailers.
 
The 4.1 percent growth in retail clothing sales was lower than the 9.5 percent year-on-year growth registered by the 50 large-scale retailers during the year, according to the data.
 

Fibre2fashion News Desk - India

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