2022 is a year of change for the major global textile and apparel retail market. From the demand side, there are more consumers in the global market who need higher quality, customized, environmentally friendly, and fashionably diversified goods. From the supply side, companies are generally accelerating investment in innovation and upgrading, green system construction related to the supply chain, logistics, and accelerating the de-stocking of inventories caused by the imbalance of regional economic development.
In China, the textile and apparel industry, which is dominated by enterprises in China, Hong Kong, Macau and the globalized industrial chain, is moving towards "long-haul + first-haul" in 2022, improving internal innovation momentum, diversifying the interface with consumer scenarios, and better promoting green and intelligent supply chain construction. At the same time, the general upgrading of China's manufacturing industry has triggered a change in the shape of the market, with the textile and apparel supply chain becoming more complex, while some of the stronger counterparts will start to better protect their brand image, with three keywords such as fashion, environmental protection and technology becoming the key consumer factors to be considered by consumers in the coming period.
In the United States, although the impact of the epidemic temporarily let the situation is relatively light, but with the gradual return of life to the right track, restaurants, travel and other areas of gradual recovery, the future of people's purchasing power is expected to gradually restore. Brand competition in the U.S. market is also fierce, and traffic is becoming increasingly difficult to allocate as more and more companies in the Chinese market enter the U.S. It has become inevitable to try independent innovation, big data analytics and to explore global markets.
Consumers in Europe are relatively more focused on brand value, personalization and eco-consciousness. In 2022, the competitive situation in the textile and apparel market in Europe is more intense, such as Scandinavian, German, Italian, French and other national markets are more competitive.
In the Asian market, with the huge potential of the Chinese consumer market, many companies have taken their textile and apparel brands to the world by deepening their international operations and developing markets in Europe, America, Southeast Asia and the Middle East. As Asian companies, including countries and regions such as South Korea and Japan, continue to strengthen their brand power, the market competition is also increasingly intense. And in Hong Kong, China, as a major textile and apparel trade center, more international brands have been stationed in Hong Kong, accelerating the further integration of the Hong Kong apparel consumer market.
In short, 2022 is a key year for the development of the world textile and apparel industry, the market for more diversified consumer demand, brand competition intensified, enterprises require more efficient and green, and intelligent supply chain construction will become the future trend of the textile and apparel industry.