As one of the main market segments, high-end children's clothing has broad development prospects
With the continuous expansion of my country's middle class, people's awareness of quality consumption has gradually increased. my country's high-end children's clothing industry has ushered in a stage of rapid development, and the market size has maintained rapid growth. Among them, the growth rate of high-end children's clothing is higher than that of large children's clothing.
From the perspective of the life cycle of the clothing industry, compared with men's clothing, women's clothing, sportswear and other industries, my country's children's clothing industry is still in the growth stage, with the characteristics of rapid market demand growth and large room for growth. As one of the main market segments, high-end children's clothing also has broad development prospects.
China's middle class group continues to expand
With the rapid development of China’s economy, the continuous improvement of people’s income level, the continuous expansion of China’s middle class, and the gradual increase in quality consumption awareness, the international consulting agency Mckinsey predicts that by 2020, the disposable income of Chinese households will reach 8185 US dollars, and mainstream consumer groups The per capita disposable income is expected to reach 16,000-34,000 US dollars, and the proportion of mainstream consumers is expected to reach 51%.
Note: The per capita disposable income of different classes is divided: poor is less than 6000 US dollars; value 6000-16000 US dollars; main 16000-34000 US dollars; affluent more than 34000 US dollars
The high-end children's clothing industry has entered a period of rapid development
Since the beginning of the 21st century, the design and operation capabilities of Chinese children’s clothing manufacturers have improved, and local high-end children’s clothing brands have begun to appear, including Les Enphants, T100, etc., but on the whole, Chinese high-end children’s clothing companies are companies that act as agents for foreign brands. More; since 2010, with the increase in people’s income levels, China’s high-end children’s clothing market has gradually expanded. In addition to high-end children’s clothing companies in the market that independently operate high-end children’s clothing companies, companies that previously mainly engaged in ready-to-wear or sports brands have also begun Layout the children's clothing market, with the liberalization of the two-child policy, China's high-end children's clothing industry has also ushered in a period of rapid development.
Mature clothing production and supply chain supports the supply of high-end children's clothing
China is the world's largest textile and garment production area. According to data released by the National Bureau of Statistics, as of the end of 2019, there were 13,876 garment manufacturers above designated size in China.
China’s complete clothing supply chain and strong clothing production capacity make my country’s children’s clothing production capacity rank among the top in the world. According to the data queried by Qicha Mao, as of November 4, 2020, my country’s registered capital of more than 5 million yuan has There are 2,241 children's clothing manufacturers of a certain scale, of which 207 will be newly established in 2020.
Note: ①The scope of statistical statistics is for the large-scale children's clothing manufacturing enterprises with a registered capital of more than 5 million yuan; ②The data for 2020 is as of November 4, 2020
With the rise of my country’s middle class, high-end children’s clothing and becoming the mainstream of the development of the domestic children’s clothing market, more and more local brands have begun to join the competition in the high-end children’s clothing industry. The output of high-end children’s clothing has shown an overall upward trend, according to the announcement of representative high-end children’s clothing companies. The production data shows that in 2019, affected by the decline in market demand in the apparel industry, the output of high-end children's clothing has declined slightly.
The per capita spending on children's clothing has increased.
With China’s economy becoming the world’s second largest economy, fundamental changes in the demographic structure, and the introduction of the two-child policy, my country’s children’s clothing industry has entered a stage of upgrading the consumption structure, and the children’s clothing industry has become the second-largest clothing sub-industry in terms of prosperity after sports clothing. Sub-industry. In recent years, the per capita consumption of children’s clothing in my country has continued to increase. In 2019, the per capita consumption of children’s clothing in my country reached 1,018 yuan, a year-on-year increase of 14.5%.
The increase in children's per capita consumption of children's clothing has driven the rapid growth of my country's children's clothing market. According to data released by Euromonitor, China's children's clothing market reached 239.15 billion yuan in 2019, a year-on-year increase of 14.6%.
It is worth noting that the second-child families are mostly middle-class in large and medium-sized cities, and they are the mainstream of luxury goods consumption. After the second child is born, middle-class families pay more attention to the quality of children's products and increase the demand for high-end children's clothing, according to Euromonitor. The data shows that in 2015, the global high-end children’s clothing accounted for about 12% of the children’s clothing industry market scale. The high-end children’s clothing market in China accounted for a relatively low proportion of about 9%. In recent years, as the demand for China’s high-end children’s clothing market has increased With rapid growth, the proportion of China's high-end children's clothing market in the children's clothing industry market has continued to increase. Based on market development estimates, China's high-end children's clothing market will account for about 13% of the children's clothing industry market in 2019, and the market size will reach 31.1 billion yuan. , A year-on-year increase of 24.1%, the growth rate is higher than the growth rate of the children's clothing industry market size.
High-end children's clothing is growing faster
At present, the market size of my country's high-end children's clothing medium and large children's clothing (4-14 years old) is larger than that of small children's clothing (0-3 years old), but the growth rate of the small children's clothing market is faster than that of large children's clothing. In 2019, the market size of China's high-end children's clothing is 6.4 billion The size of the high-end children’s clothing market was 24.7 billion yuan, a year-on-year increase of 22.9%.
Direct operation + franchise is the main business model of the company. At present, my country’s high-end children’s clothing companies mainly focus on direct operation and franchise business models, adopting a combination of direct operation and franchising. In the initial stage of brand expansion, companies rely more on franchisees Resources to quickly expand sales channels and coverage, and grant them more operating rights or allow them to develop their own lower-level franchisees. With the need for brand development and unified operations, companies will gradually increase the proportion of direct sales or strengthen franchise management capabilities to form a more reasonable and effective ratio structure between the two models, and make full use of the operating advantages of the two sales models.