Competition from cheaper online retailers may repress industry growth.
San Francisco, CA (PRWEB) April 03, 2013
The Clothing Store industry in China is expected to generate $20.84 billion in revenue in 2013, says IBISWorld. Over the past five years, revenue has been growing at an annualized rate of 13.4%.
The Clothing Store industry in China is expected to generate $20.84 billion in revenue in 2013, says IBISWorld. Over the past five years, revenue has been growing at an annualized rate of 13.4%. Industry growth was strong in the past decade due to the opening of the market in accordance with China's World Trade Organization commitments. After 2001, foreign capital streamed in, bringing with it experienced management and systems. And as the Chinese economy developed, living standards improved and demand for fashion products grew.
Competition is increasing in the industry, due to the entry of more foreign players and a large increase in the number of domestic firms. As a result, industry concentration within the Clothing Store industry in 2013 is low, with the top four firms accounting for an estimated 16.2% of industry revenue, says IBISWorld.
The industry's major players like Metersbonwe, Bestseller, Esprit, and Jeanswest are focusing on branded franchising, which will quickly expand sales coverage and market share. IBISWorld anticipates that smaller retailers will lose customers or join franchised chains to stay in the Clothing Store industry. External competition will also come from online clothing retailers, such as VANCL, which have lower intermediate costs are able to offer lower final prices.
For more information, visit IBISWorld’s Clothing Stores in China industry report page.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
IBISWorld industry Report Key Topics
The Clothing Store industry is part of the retail sector in China. Operators in this industry retail clothing for men, women, and children, as well as clothing accessories such as scarves, socks, belts and ties. The major sites for retailing operations are in clothing specialty stores, franchised stores, and independent outlets.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.