Apparel brands and retailers turn their attention to the Chinese and Indian markets

For people working in the apparel industry, the US retail market is undergoing a revolution. Consumers are spending less on clothing, and money is spent more on life experiences. They prefer to take vacation instead of buying clothes, so some malls have been converted into community colleges or indoor parks. As a result, brands and retailers turn their attention to the Chinese and Indian markets and look at the growth potential of these markets. After all, the possibilities for expanding the market here are enormous. The current population of the United States is 321.4 million. According to Wells Fargo, 65% of US consumers' disposable spending is spent on holidays and sports events, an increase from less than 40% 60 years ago. At the same time, clothing consumption fell from 26% of disposable spending to 11%. The Congressional Budget Office expects actual disposable income to fall from 2.5% last year to an average of 2% over the next two years. In contrast, China has a population of 1.37 billion, while India has 1.3 billion residents. According to the analysis of the Deloitte Journal, China's personal disposable income is growing at an average annual rate of 11.5%, while India's increase is 7.5%. This difference is striking, and it is very attractive for brands that have the time, money and ability to navigate the business environment of each country. From sportswear to luxury brands, more and more large apparel brands have entered or are entering the Chinese and Indian markets. Under Armour is looking for opportunities to invest billions of dollars in China. Last fall, UA founder and CEO Kevin Plank told the South China Morning Post, "We will do everything we can to make our investment in China work well." Adidas recently launched a "100 million pick one" advertisement in China. Encourage young people in China to highlight their individuality. According to the American International Cotton Association (CCI) and the US Cotton Company's Global Lifestyle Monitor (Global LifestyleMonitor?), 83% of Chinese consumers “like or like it” to buy clothing. 49% of consumers said that they like to buy clothing, followed by electronics (15%), sundries (11%), cosmetics (8%) and shoes (7%). Another point that makes the Chinese market attractive to apparel brands is that Chinese consumers buy clothing more frequently. According to lifestyle survey data, 68% of consumers say that they shop for themselves one or more times a month. . But one thing is to remind retailers and brand owners that Chinese consumers prefer online shopping (79%), followed by department stores (76%) and specialty stores (51%). In addition, according to the Lifestyle Monitor data, although Chinese consumers say they prefer to buy clothing at the time of discount, but other factors such as the quality is more important than price. Only 8% said they are willing to sacrifice quality to get a cheaper price. The most important factors driving consumer apparel purchases are fit (92%), comfort (92%) and quality (90%). In India, according to data from lifestyle surveys, 91% of consumers said they “liked or liked” to buy clothing. 66% of consumers said that clothing is their favorite item to buy, 9% of cosmetics and electronics, cosmetics (8%), fashion accessories (4%). However, only 25% of Indian consumers buy clothing once or more a month, and they prefer to buy a garment every two or three months or even longer. India and China are very different. The most popular shopping channels in India are independent stores (68%), supermarkets (66%), department stores (47%), and street markets (33%). According to a study by lifestyle surveys, only 17% of consumers shop online. The data shows that Indian consumers have great concerns about online shopping, for example, the clothes they want to buy, the ability to try on or touch the fabric , and the quality of the clothing purchased online is reliable (the two worry factors account for the respondents) The percentages in the expression are all 66%). Brands and retailers who want to enter or expand their market share in India should note that research in lifestyle surveys shows that 82% of consumers “at least sometimes” buy discounted apparel. 45% of Indian consumers are impulsive consumers. The survey found that lifestyle, environmental protection clothing appeal to Indian consumers, 78% of consumers said they are trying to find the clothing to protect the environment. Almost all people (92%) believe that cotton cultivation is environmentally friendly, far higher than the highest percentage of man-made fibers (nearly 20%). The famous consulting firm ATKearney has listed India as the most promising retail expansion market. Hana Ben Shabat, a partner at the company and one of the authors of the Global Retail Development Index, points out that the 2017 Global Retail Development Index is a global geopolitical look at how it affects business. Retailers have high political risks for future government actions. Where to think about expansion, think twice.” ATKearney’s report says that India’s strong GDP growth over the past few years, the growing middle class, and a more favorable regulatory environment have all contributed to its top rankings. the reason. Reebok India is seeking to expand its territory to the whole of India. The company is looking to establish an exclusive brand retail store. Currently, the Adidas Group sells Adidas and Reebok clothes and shoes in India. Reebok India recently submitted a proposal to the Group's Industry Policy and Promotion Department. This is a long-term brewing and exploration that dates back to 2013 when Erick Haskell, Managing Director of the Board of Directors, explored India's discussion of single-brand retail regulations. At the same time, the company also said that the scale and sustainable development of China's retail industry "still makes China's retail industry one of the most attractive investment markets."

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