Chinese consumers are willing to spend money on clothing than ever before.

A global survey by OC&C, a global consulting firm, said that Chinese consumers are now willing to spend money on clothing more than ever before.

The survey covered 2,600 Chinese consumers over the age of 16 from 22 cities, and compiled a large number of consumer interviews.

The report pointed out that due to the improvement of Chinese consumers' purchasing power, the Chinese clothing market has developed extremely rapidly in the past decade. Since 2015, China has become the world's largest clothing market. From 2005 to 2015, the compound annual growth rate was 11%, and the current market total reached 280 billion US dollars. Even though China’s economic growth has declined in recent years, it is still the fastest growing apparel market in the world.

According to the survey, from the average results of consumption levels in different regions, the frequency of Chinese consumers buying clothing is about once a month, and the purchasing power is about 6% to 7% of disposable income. In China, clothing plays an important role in shaping personal image. Up to 70% of respondents believe that they are willing to spend money on clothing more than ever before.

Nearly 50% of respondents said they are more inclined to buy international brands. According to the report, when consumers choose a brand, the inertial thinking of using international brands as a status symbol has gradually disappeared. Instead, consumers choose international brands because of quality and design. More than 90% of respondents said they hope International brands are customized for Chinese or Asian consumers.

In the survey, when consumers were asked about the most important purchasing factors of clothing, most people answered “product quality”. Especially for the core consumer groups of the clothing industry from 25 to 44 years old, product quality is their first consideration. factor. The report pointed out that this is a very critical trend, because quality has not been the most concerned factor for Chinese apparel consumers in the past five years.

Zhuang Jiejie, a partner of Greater China in the business management consulting group, said: “With the growth of the urban middle class, the Chinese clothing market is undergoing transformation. As Chinese consumers become more mature, prices are no longer the first consideration, and they are beginning to focus on quality and design. ”

The survey also shows that despite the rapid development of online channels in recent years, physical stores are still the most important channel for Chinese apparel consumers to understand international brands.

Ou Xi Analysis has more than 400 consultants in 14 countries and regions around the world, and its offices in Hong Kong and Shanghai provide consulting services to multinational companies in Asia.

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