Industry Data: Check The Operation Of Textile And Clothing Professional Market In 2024

2024 is a year full of pressure and challenges. The new economic development cycle, geopolitical impact and technological innovation impact are constantly superimposed. The industry development is facing a complex and severe situation and the reality of insufficient effective demand. 2024 will be a year of hope and opportunity. The industry will vigorously develop new quality productivity, make positive progress in the construction of modern textile industry system, and play a constructive role in stabilizing the macro-economy. From the perspective of the textile and clothing circulation industry, 2024 is a year of profound changes in the industry's competitive landscape. The trend of integration of subversion of traditional channels and innovation channels continues to deepen, bringing huge challenges to the professional market of textile and clothing, and the industry has entered a cycle of in-depth structural adjustment.

In 2024, there will be 862 specialized textile and clothing markets with an area of more than 10000 square meters in China, with a total turnover of 2.36 trillion yuan, up 0.45% year on year; The total turnover of 44 market business districts monitored by China Textile Federation Circulation Branch was 1.71 trillion yuan, up 6.79% year on year. Under the realistic condition that there is greater uncertainty outside the professional market and severe structural challenges occur inside, the professional market adheres to the principle of integrity, innovation and integrated development, ensuring the overall stability of the total scale and achieving a smooth conclusion.

　　 1、 Overall situation

According to the statistics of the circulation branch, in 2024, there will be 862 specialized textile and clothing markets above 10000 square meters in China, with a year-on-year growth of 0.23%; The market operation area reached 73.116 million square meters, up 0.05% year on year; The number of shops in the market was 1.3483 million, up 0.02% year on year; The number of merchants in the market was 1.0913 million, up 0.02% year on year; The total market turnover was 2.36 trillion yuan, up 0.45% year on year.

Total amount and scale. In 2018, the number of professional textile and clothing markets with an area of more than 10000 square meters in China reached 915. With the deepening of stock competition, professional market industry optimization and internal elimination coexist, and the situation of closing down and reloading, closing down and closing down, and changing the business type intensifies. The new market investment construction is more rational, and the total market volume is reduced. Since 2022, the number of closed markets and new markets has been relatively balanced (Chart 1).

In terms of turnover growth. From 2019 to 2024, the year-on-year growth rate of total turnover of professional markets will be - 1.08%, - 2.22%, 1.98%, - 8.54%, 10.11% and 0.45% respectively. In 2023, the turnover of the textile and clothing professional market will grow by more than 10%, driving the turnover scale back to the pre epidemic level. In 2024, the professional market will maintain its overall scale and achieve a smooth conclusion under the condition of superposition of adverse factors (Chart 1).

Table 1 Data on the number and turnover of professional textile and clothing markets from 2019 to 2024

Source: Operation efficiency of China Textile Federation Circulation Branch. In 2024, the efficiency of shops in the textile and clothing professional market will be 1.7471 million yuan/shop, with a year-on-year increase of 0.44%; The efficiency of merchants was 2.1585 million yuan/household, up 0.43% year on year; The market efficiency was 32216.03 yuan/m2, up 0.40% year on year. In 2024, the operating efficiency, shop efficiency and merchant efficiency of the professional textile and clothing market will all reach the highest value in nearly six years, and fewer markets and merchants will create greater value. The results of structural optimization of the professional market will gradually show in terms of operating efficiency (Figure 2).

Figure 2 Operation efficiency data of textile and clothing professional market from 2019 to 2024

Source: China Textile Federation Circulation Branch

Prosperity. In 2024, the annual average prosperity index of professional market managers will be 51.84, and the annual average prosperity index of merchants will be 50.72, both of which are higher than the 50 boom and bust line. It can be seen that in 2024, the business activity of professional market managers and merchants in China's textile and clothing industry will be high, and they will be in the expansion range as a whole. From the perspective of the index trend, the manager index fluctuates more, and the professional market operation shows obvious performance in the off peak season; The merchant index is relatively stable, which shows that the merchants have always maintained relatively active business activities throughout the year (Chart 3).

Figure 3 Overview of the Year 2024 Prosperity Index

Source: China Textile Federation Circulation Branch

　　 2、 Structural analysis

From the regional perspective, 521 of the 862 professional markets in the eastern region (Chart 4) had a turnover of 2014.278 billion yuan, accounting for 85.51% of the total turnover, up 1.58% year on year. The turnover of 188 markets in the central region was 233.473 billion yuan, accounting for 9.92% of the total turnover, down 5.42% year on year. The turnover of 153 markets in the western region was 107.757 billion yuan, accounting for 4.57% of the total turnover, down 6.32% year on year. (Chart 5)

Figure 4 Market share data of eastern, central and western regions

Source: China Textile Federation Circulation Branch

Table 5 Market Turnover Proportion and Growth Rate in Eastern, Central and Western Regions

Source: China Textile Federation Circulation Branch

From the perspective of category, clothing and raw and surface (auxiliary) materials are the main commodities of China's textile and clothing professional market. There are 610 professional markets that mainly sell clothing and raw and surface (auxiliary) materials, accounting for 70.76% of the total market (Chart 6), and the turnover accounts for 68.20% of the total turnover. Among them, there are 453 professional markets mainly engaged in clothing products, with the highest turnover among all categories, reaching 850.066 billion yuan, accounting for 36.09% of the total turnover, down 3.23% year on year; There are 157 professional markets mainly engaged in raw materials and surface (auxiliary) materials, with the turnover ranking second, reaching 756.29 billion yuan, accounting for 32.11%, up 1.91% year on year; The growth rate of small commodity market was the highest, reaching 14.02%; The professional home textile market also achieved positive growth, with a year-on-year growth of 1.26%; The turnover of the comprehensive market and other markets decreased by 4.95% and 12.96% respectively (Chart 7).

Table 6 Proportion of Market Quantity by Category

Source: China Textile Federation Circulation Branch

Table 7 Proportion of turnover and growth rate of each category of market

Source: China Textile Federation Circulation Branch

　　 3、 Key monitoring market analysis

From January to December 2024, the total turnover of 44 professional textile and clothing market business districts monitored by the circulation branch reached 1717.757 billion yuan, up 6.79% year on year. Among them, the turnover of 20 markets increased year on year, with an average increase of 8.98%; The turnover of 23 markets declined year-on-year, with an average decline of 1.66%; The turnover of one market was flat.

　　 （1） Operation efficiency analysis

From the perspective of market operation efficiency, the average operation efficiency of 44 key monitoring markets was 77332.88 yuan/square meter, up 6.79% year on year; The average store efficiency was 5917200 yuan/store, up 6.80% year on year.

　　 （2） Analysis of market regional structure

From the perspective of regional structure, from January to December, among the 44 key monitoring markets, the turnover of professional markets in the eastern region was 1508.336 billion yuan, up 7.62% year on year, accounting for 87.81% of the total turnover of professional markets; The turnover of professional markets in the central region was 149.921 billion yuan, up 1.34% year on year, accounting for 8.73% of the total turnover of professional markets; The turnover of professional markets in the western region was 59.5 billion yuan, up 0.71% year on year, accounting for 3.46% of the total turnover of professional markets (Chart 8).

Table 8 Turnover Proportion and Growth Rate of 44 Key Monitored Markets in the Eastern, Central and Western Regions

Source: China Textile Federation Circulation Branch

　　 （3） Analysis of circulation hierarchy

From the perspective of circulation level, the 44 key monitoring market units include 26 professional markets of producing areas and 18 professional markets of selling areas. From January to December 2024, the turnover of 26 local markets reached 1563.805 billion yuan, accounting for 91.04% of the total turnover, up 7.70% year on year; The turnover of 18 land selling markets was 153.952 billion yuan, accounting for 8.96% of the total turnover, down 1.66% year on year.

　　 4、 Analysis on the Operation of Textile and Garment Market in 2024

　　 （1） Data analysis

1. Professional market actively responds to challenges to stabilize transaction scale

From 2020 to 2022, China's textile and clothing circulation sector was hit by the epidemic, and the professional market was under pressure. There was a gap between the total turnover and that before the epidemic. In 2023, the professional textile and clothing market will grow at a high speed, and the turnover will return to the pre epidemic scale. In 2024, the textile and clothing professional market will face a new stage of development in which opportunities and challenges coexist. Under the superposition of technological innovation, commercial competition and consumption upheaval, it will show a more tenacious development will and innovative spirit. Under the circumstances of industry incentive competition and internal elimination, it has stabilized the scale of turnover.

2. The influence of leading markets on the total volume of the industry continues to deepen

In 2024, the professional textile and clothing market will face fierce internal and external competition, increasing market development pressure, and a large proportion of professional market turnover will decline. On the other hand, under the difficult mode of the industry, the Matthew effect is further highlighted, leading markets around the country show stronger resource integration capabilities and market competitive advantages, and the turnover continues to achieve new breakthroughs. In terms of categories, Keqiao and Shengze noodle accessories market groups, Yiwu China's small commodity market, Nantong Dieshiqiao home textile market and other leading market groups have accounted for half of their respective subdivisions, and have achieved medium to high speed growth under the condition of a large total base, directly driving the noodle accessories market, home textile market The three sub categories, including the small commodity market, achieved positive growth in turnover. From the national perspective, the 44 leading market groups monitored by the Circulation Branch have accounted for more than 70% of the market share of the national textile and clothing professional market, and achieved a growth of 6.79%, which has played a huge role in pulling the total volume of the industry.

3. All regional markets actively explore breaking development

In 2024, facing the increasing pressure of industrial competition and development, the textile and clothing professional market in the east, middle and west of China will actively try new business models and explore the way to break the situation. Backed by industrial clusters, the eastern region has created more than 80% of the transaction shares in the country relying on strong scale advantages and production and circulation synergy ecology. In recent years, the eastern market has continued to increase its efforts in product innovation and research and development, exploring innovative modes of circulation, achieving a rise against the trend and stabilizing the basic volume of transactions in China's professional markets. The professional markets in the central and western regions actively explore the innovation of mode and business type, and contribute to the optimization of the industrial structure and quality improvement of professional markets in China. On the one hand, the market vigorously promoted the transformation of the second batch of merchants to the 1.5 batch, and improved the ability to control the supply chain; On the other hand, the market actively creates a new scene and new ecology of both wholesale and retail operations, accelerates integration into the city's commercial landscape, constantly improves customer experience, stabilizes market operation, and improves passenger flow.

　　 （2） Professional market enters the quality development cycle

In 2024, the development of apparel e-commerce will enter a bottleneck period, and online traffic dividends will continue to weaken; Consumers gradually return to the entity, followed by a new situation of real number integration, global marketing, and scene experience. In the new stage of the alternation of old and new commercial civilization, China's textile and clothing professional market has entered the quality development cycle.

1. Take "new quality" as the engine to promote comprehensive innovation in the industry

After the National Two Sessions in 2024, the concept of "new quality productivity", which was written into the government work report, has aroused extensive discussion in various industries. As an important hub of the textile and clothing industry, the professional market of textile and clothing actively explores the transformation and upgrading path with new quality productivity as the core. In 2024, the professional market has achieved good results through active attempts in new product research and development, new technology application, new mode integration, etc., which has driven the increase of turnover.

In terms of new product research and development, the textile fabric market takes industrial scientific and technological innovation as the lead, new material research and development as the starting point, and fabric research and development drives the overall upgrading of clothing research and design level. For example, Keqiao China Light Textile City has vigorously promoted the implementation of the "New Textile Materials Center" and "Textile Technology Innovation Center" projects, Guangzhou International Light Textile City has created a "fashion source innovation platform", and the two leading fabric markets have promoted the in-depth development of new quality productivity in the whole industry chain from the source of the industry.

In terms of new technology application, professional markets around the country actively set up technical teams, combined with their own conditions and practical needs, to create new technical tools with high matching and high practicality, which greatly improved the operational service efficiency of professional markets. For example, Changshu Garment City upgraded the version 2.0 of the "Shangcheng Waiter" platform of the smart mall, launched 12 functional systems online, and established an online offline linkage mechanism; Zhengzhou Jinrong Trade City has independently developed the platform of "Quick Approval Bar" to realize online connection between businesses and customers through "exposure, exploration, promotion, introduction, gathering and sales", and help businesses expand their marketing.

In terms of new mode integration, professional markets around the country have carried out exhibition planning operations, and large supply chain collection brand exhibition halls have appeared in Zhengzhou Yinji Plaza, Hanzheng Street clothing market and other markets, which have the development characteristics of supply chain platform and "white brand stores"; Jimo Garment City realizes the division trusteeship and centralized operation of professional managers, creates special zones with characteristics, and forms a good demonstration driving effect; Local markets strengthened the operation of membership system, deeply cultivated the private domain flow pool, and comprehensively improved the membership service system; Merchants constantly improve the level of original design, test new models such as lightweight customization, the integration of stalls and studios, and improve customers' personalized design service experience.

2. People oriented, improving service quality of professional market

In 2024, Pangdonglai will set off a new wave of people-oriented in China's retail industry. As one of the commercial formats to meet the people's better life, the textile and clothing professional market will continuously improve the service quality of both wholesale and retail. In addition to traditional modes such as various purchase festivals and holiday promotion festivals, textile and garment professional markets around the country have created scenes and improved experience, achieving new breakthroughs in quality services. In terms of scene building, such as Guangzhou International Textile City, Guangzhou Middle Gate, Zhengzhou Yinji Square, etc., create art scene exhibition halls and curatorial spaces; Shenzhen Huahaida Market sets up a Chinese classical aesthetic punch in point; Promote the professional textile and clothing market to create an experience space for the integration of fashion and art. In terms of business integration, Chongqing Daronghui has built a "delicious street", Guangzhou Baima Clothing Market has introduced a restaurant on the first floor, Shenzhen Sungang Business District has introduced a special dining car, and Hanzheng Street Business District has built a cross street market to build a pyrotechnic consumption space for urban residents.

3. Develop exhibition economy and smooth industrial circulation

In 2024, the professional textile and clothing market will give full play to the key role of exhibitions in unblocking the supply and demand cycle, promote two-way online and offline flow through expos, purchase festivals, fashion weeks and other ways, enhance its influence and drive the growth of turnover.

In 2024, the Spring and Autumn Joint Exhibition of China Textile Federation will be grandly opened in the National Convention and Exhibition Center (Shanghai), and the leading markets of the industry, such as Baima Clothing Market, Italy France Clothing City, Changshu Clothing City, China Textile Center Clothing City, Zhengzhou Yinji Plaza, will participate in the exhibition, demonstrating the innovative development achievements of the textile and clothing circulation industry; The 2024 China (Dalian) International Garment and Textile Expo, Jinzhengmao · Hanpai Garment Headquarters 2024 Hanpai Autumn and Winter Picking and Batching Festival, the 7th China (Ordos) International Cashmere and Wool Expo, Shaoxing Keqiao China Light Textile City Curtain and Fabric Exhibition, Haining China International Leather and Fur Fashion Accessories Exhibition, Puyuan International Wool Knitted Garment Expo and other local exhibitions were held continuously, It has greatly enhanced the vitality of industrial circulation, and strengthened the communication and docking between markets, enterprises and merchants around the country.

At the same time, professional markets around the country actively established fashion weeks and fashion festivals, vigorously developed the "release economy", and constantly improved the connotation of the industry's "debut", "original" and "fashion" design. 2024 Jinan Fashion Week, 2024 Xiliu International Fashion Week, 2024 Chaotianmen Original Fashion Week, 2024 Hunan Fashion Expo&Lusong Fashion Week, 2024 China Liuhua International Fashion Festival, etc. were successfully held, constantly improving the professional position and voice of the professional market in the fashion art industry.

4. Promote international cooperation and open a new prospect for global development

In 2024, local textile and clothing professional markets will continue to exert their efforts to export economy and expand overseas markets. Haicheng Xiliu held the "2024 National Conference on the Integration and Development of Domestic and Foreign Trade in Textile and Clothing Industry", Shaoxing Keqiao held the "2024 International Textile Expo Overseas Cloud Commerce Exhibition (UK Station)", Chinese textile and clothing enterprises actively participated in the sixth China Textile Fine Products Exhibition (South Africa), and home textile enterprises actively participated in the Russian International Household and Indoor Textile Exhibition, The "Guangzhou White Horse Fashion Shop · Border Trade Supply Chain Matchmaking Conference" was opened in Kunming, Yunnan... The textile and clothing professional market has continuously expanded its international trade network and deepened supply chain cooperation.

In terms of cross-border e-commerce, in 2024, the Ministry of Commerce, the National Development and Reform Commission and other departments will successively issue documents to continuously release important signals supporting the development of cross-border e-commerce industry. The professional market of textile and clothing is keenly aware of the development trend of the industry, actively planning the industry going to sea, and arranging cross-border e-commerce. For example, the "Sweater Sect" global one-stop cross-border sweater procurement platform was officially launched in Honghe; 2024 Guangdong Clothing Cross border E-commerce Conference was held grandly; The special matchmaking meeting of "Hope Blossom" industrial belt going out to sea was held in Keqiao, and the investment promotion meeting of TEMU key enterprises in autumn and winter was held in Changshu; Hubei Tianmen held 2024 China (Tianmen) Garment E-commerce Industry Conference under the theme of cross-border e-commerce.

　　 epilogue

In 2024, China's textile and clothing professional market industry will enter the development cycle of shock adjustment and structural optimization, and also enter the strategic opportunity period of the alternation of old and new business civilizations and the recovery of physical consumption. It is a relatively long and challenging process to adapt to the new environment, clarify the new positioning, explore new models, and find new quantities. The professional market must adapt to the changes of upstream and downstream entities, consumer demand, and channel models in the constant changes of the external environment, and based on the profound changes of industry connotation and trends, Focusing on the direction of developing new quality productivity, find the focus of work, create a supply chain platform market, adhere to the development concept of online and offline integration, domestic and foreign trade integration, industry and business culture and tourism integration, and supply chain coordination, and jointly build a new circulation ecology of textile and clothing industry.

(Source: China Textile Federation Circulation Branch)