Terminal consumption is expected to recover in 2023, and the textile market will usher in more development opportunities

Recently, relevant research reports have shown that the overall performance of the textile and clothing market in 2023 will be poor, but foreign trade will be slightly better than domestic sales, and domestic sales will show a trend of "good at both ends and poor in the middle". In terms of foreign trade, due to the impact of the epidemic in the first half of 2022 on the stability of the supply chain, it will be difficult to deliver export orders. In terms of domestic sales, the textile and garment industry will present a situation of "better at both ends and worse in the middle" in 2022, that is, the market performance of mid-to-high-end and low-end mass-market textile and garment products is better, while the "sandwich layer" between the two ends is the most bitter.

Many industry insiders said that the pressure of internal and external demand is an important factor for the overall poor performance of the textile and garment industry in 2022. On the one hand, major economies are facing inflation risks, and many markets such as the United States are still clearing inventories, resulting in weak demand for textiles and clothing. On the other hand, due to the impact of the epidemic, the travel of residents has decreased, the consumption scene is limited, and the demand for clothing is not good. It is understood that some textile and garment enterprises engaged in foreign trade in Jiangsu have begun to actively receive domestic sales orders due to the large shrinkage of orders. Japan is an important market for the export of my country's textile and apparel products. At its peak, about 80% of Japanese textile and apparel products were imported from China, but now only about 40% are imported. This has had a great impact on textile and apparel companies specializing in the Japanese market.

With the continuous optimization of the epidemic prevention and control policy and the promotion of the national policy of expanding domestic demand, it is expected that the clothing retail data is expected to gradually improve. In the future, textile and garment enterprises should change their concepts and develop to new models and new formats such as cross-border e-commerce. At the same time, they must focus on building their own brands and promote the industry to upgrade to mid-to-high end. In 2023, although the epidemic situation in most countries around the world has been released, the experience of countries that have released earlier from overseas has not improved significantly in the case of overseas economic downturn and the decline in residents' income. Therefore, the recovery of domestic epidemic prevention and control still remains Cautious.

With the release of epidemic prevention and control and the country's risk support for real estate, it is expected that domestic demand will recover from the previous month, and the textile and garment market will usher in more development opportunities in 2023.