Abstract
Rapid economic transformation and government efforts have made China a
dominant player in the global textile and apparel trade. Chinese textile and
apparel products now constitute an important segment of apparel and textile
markets of various developed and developing economies. The country has gained
a competitive edge on account of its favorable economic environment,
government support, tariffs and tax incentives, SEZ culture, and low labor and
raw material cost.
The changing retail industry landscape, coupled with rising purchasing power
and increasing influence of Western culture, is also giving a new meaning to
the domestic apparel market of China. The emergence of middle class, growing
young population and rapid globalization of culture is fuelling the demand for
branded apparel in the country. This is attracting the foreign and domestic
players to tap the rising demand of branded (as well as mass) segment products.
The emergence of China as one of the largest consumer markets will spur the
apparel consumption in coming years. Consumers will prefer more fashionable
and branded products. Despite the rise in purchasing power and preference for
branded products, mass segment products will continue dominate the apparel
purchase. Changing trends and rising consumption will give rise to a new era
of apparel and textile industry in China, says “China Apparel Industry -
New Opportunities for Growth”, a new research report by RNCOS. As per
the report, the global financial crises of 2008 and changing market conditions
at globe level will not affect China' s dominance in apparel and textile
industry.
The research report critically evaluates the current and past performance of
the industry and gives a detailed overview on it. It studies the latest
industry trends and summarizes the important factors related to growth of the
industry.
The report thoroughly evaluates the opportunities and factors critical to the
success of the apparel and textile industry in China. It underlines the issues
related to the success of the industry and provides a prudent analysis on its
various aspects. It presents a comprehensive overview of the past and current
performance of the industry, including textile and apparel industry.
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