In January and February, the epidemic had a greater impact on cotton terminal consumption.
Affected by the epidemic, shopping malls in various places were sparsely populated or even temporarily closed from January to February. Offline consumption of textiles and clothing was almost at a standstill. Textile companies generally delayed the start of operations and overseas orders were delayed. Cotton terminal consumption has been greatly affected. . According to data from the National Bureau of Statistics, from January to February 2020, the national retail sales of clothing, shoes, hats, and knitted textiles above designated size were 153.4 billion yuan, a year-on-year decrease of 30.9%. Among them, clothing sales decreased by 33.2% year-on-year. Both hit their lowest levels since 2001. According to the latest statistics from the General Administration of Customs of China, from January to February 2020, my country’s textile exports were US$13.773 billion, a year-on-year decrease of 19.9%; clothing exports were US$16.062 billion, a year-on-year decrease of 20.0%, reaching the largest year-on-year decrease in the past two years. Lows.
Before the epidemic ends, textile and clothing exports Still under pressure.
The domestic epidemic has basically stabilized, but the overseas epidemic has begun to spread rapidly, causing panic in the global market and a sharp increase in pressure on foreign trade exports. As of 18:00 on March 23, there were more than 330,000 confirmed cases of COVID-19 globally, covering almost all countries in the world. The World Health Organization stated that the current COVID-19 pandemic is accelerating its spread. The deterioration of the epidemic has led to a decline in the willingness and spending power of global consumers. The closure of physical department stores around the world has reached a record high in many years. The spring fashion week has been canceled or postponed, and the consumption of textiles and clothing has declined. my country’s textile and clothing exports account for about 30% of global textile and clothing exports. Among them, exports to Asia, America, and Europe, which are severely affected by the epidemic, account for 91% of my country’s total textile and clothing exports. Affected by the epidemic, the export orders of domestic textile companies have declined significantly recently, and some orders have even been canceled or delayed. The Spring Canton Fair on April 15 has also been postponed. Before the global epidemic recovers, overseas demand will be affected, which will inevitably lead to a shrinkage in the export end of my country’s textile and apparel products.
There is no shortage of bright spots in the market, which will help release the domestic demand market
This epidemic is an impact on the textile industry, and it is also a reshuffle. There are also many companies that adjust production and production in a timely manner. Sales, create living space. First, a group of manufacturers of underwear, home textiles, clothing, etc. have transformed their original production lines into production lines for masks and protective clothing, which have become highlights in ensuring the demand for epidemic protection materials, such as Mercury Home Textiles, Hongdou Group, Jihua Group, and Huafang Co., Ltd. , and at the same time led upstream production companies to resume operations. The bottom line is that companies need to improve production and supply chain flexibility to respond to market changes. Second, faced with the dilemma of offline sales, many companies have developed breakthroughs in online sales and carried out online live broadcasts and e-commerce themes through self-media platforms such as Weibo, WeChat, and Douyin to increase interaction with consumers and ignite the epidemic. The market’s enthusiasm for consumption has achieved a win-win situation of brand promotion and inventory clearance. In the later period, with the application of big data, it will bring more space for enterprises to conduct precise online marketing.
After the epidemic, the concept of pure cotton has become more and more popular.
In the short term, the epidemic has caused a decline in physical consumption, but after the epidemic, life will eventually return to its original state. After this epidemic, consumer psychology and behavior may have changed. Healthy living is undoubtedly regarded as the first priority, and natural cotton fiber will become increasingly popular. A survey by Cotton Incorporated during the novel coronavirus epidemic showed that 71% of consumers have spent more time online since the beginning of the novel coronavirus pandemic, 80% said they choose to wear comfortable clothing, and 70% considered 70% cotton fiber texture Clothing is very comfortable, and the top three online shopping categories are comfortable clothing/textiles, durable clothing/textiles, and towels. After the epidemic, as more and more people pursue further improvements in quality of life and comfort, and the textile industry’s production technology continues to reform, the demand for cotton textiles and clothing will gradually pick up. </p
