Review 2022 and Endeavor 2023 | Chen Dapeng: What cannot defeat us will eventually make us stronger
TAweekly: Could you please introduce the overall development of the apparel industry in 2022?
Chen Dapeng: 2022 is a very unusual and extraordinary year. During this year, under the continued influence of the COVID-19 epidemic, faced with the severe and complex international environment, as well as the triple pressure of shrinking domestic market demand, supply shocks, and weakening expectations, China’s garment industry moved forward with a heavy load, bravely faced challenges, and continued to Optimizing the industrial structure, accelerating the pace of innovation and adjustment, and increasing the transformation of development momentum have demonstrated strong development resilience and ability to resist risks.
From the perspective of production, production growth continues to slow down. According to data from the National Bureau of Statistics, from January to November 2022, the clothing output of enterprises above designated size in my country’s clothing industry reached 21.16 billion pieces, a year-on-year decrease of 3.42%, and the decline was 11.95 percentage points lower than the same period in 2021. But at the same time, we must also see that my country’s status as a major clothing country is still solid and it is still the largest clothing producer in the world.
From the market perspective, demand is generally sluggish. In terms of the domestic market, from January to November 2022, the retail sales of clothing products by units above designated size in my country was 829.46 billion yuan, a year-on-year decrease of 6.9%, and a decrease of 23.3 percentage points from the same period in 2021; the online retail sales of wearing products increased by 3.4% year-on-year. The growth rate is 7.7 percentage points slower than the same period in 2021. At the same time, although the international market has continued the growth trend of exports since 2021, from January to November 2022, my country’s cumulative exports of clothing and clothing accessories reached US$160.527 billion, a year-on-year increase of 4.2 %, but the trend of clothing export growth slowing down has emerged: monthly clothing exports began to turn negative in September, with exports falling by 16.8% and 14.4% in October and November. The downward pressure on exports is continuing to intensify.
In terms of efficiency, operational quality and efficiency have declined significantly. According to data from the National Bureau of Statistics, from January to November 2022, designated enterprises in my country’s clothing industry achieved revenue of 1.30769 billion yuan, a year-on-year decrease of 3.3%; total profits were 65.76 billion yuan, a year-on-year decrease of 7.4%; the operating income profit margin was 5.03%, This is a decrease of 0.23 percentage points from the same period in 2021.
We have seen that although the growth rate of the main operating indicators of my country’s garment industry continues to slow down, the operating pressure of enterprises continues to rise, and the industry’s economic operation is seriously under pressure, but my country’s garment industry A large number of enterprises have risen to the challenge, grasped the basics, strengthened innovation and development, and pushed the industry towards highquality development.
Judging from the current situation, global economic growth is weak, inflationary pressure is high, and the shrinking trend of domestic and foreign market demand is more obvious. In 2023, facing the severe and complex external environment and the arduous and arduous tasks of reform, development and stability, the industry will still be under great pressure to maintain restorative growth. However, with the implementation of national economic stabilization policies and measures, the industry’s operating environment has become more stable, the production and sales cycle has become smoother, and the domestic demand market has accelerated its recovery. Main indicators such as production, domestic sales and profitability of the garment industry are expected to achieve a steady recovery, and the industry’s recovery trend will be further improved. Consolidate.
TAweekly: In your opinion, what are the highlights of the development of the apparel industry in 2022 that are worthy of attention?
Chen Dapeng: The first highlight worthy of attention in 2022 is that clothing investment continues to run at a high level. Under the guidance of the national “stabilizing growth” policy, various localities have actively promoted the implementation of the “stabilizing investment” policy and the results have gradually emerged. According to data released by the National Bureau of Statistics, fixed asset investment in the garment industry will achieve rapid and stable growth in 2022, with an average growth rate of around 30% during the year, with the growth rate as high as 46.2% from January to February. By November 2022, although the growth rate of fixed asset investment in my country’s garment industry has slowed down slightly, with a year-on-year increase of 28.1%, it is still 26.6 percentage points higher than the same period in 2021, which is 22.7 and 18.8 percentage points higher than the overall level of the textile industry and manufacturing industry. .
Such data allows us to see that the industry is accelerating structural adjustment, technological transformation, and digital transformation in high-quality development. This is the confidence and action of the industry to strengthen and strengthen the chain, and is the vitality and power behind resilient development.
The second highlight is that the apparel industry has maintained its scale advantage and international competitiveness. In 2022, a year full of twists and turns, under the influence of multiple factors such as the epidemic and the international situation, enterprises above designated size have maintained basically stable operating income and total profits. The number of garment exports has remained the same as that of the same period in 2021, and the unit price of exports has achieved Improvement, our industry still maintains its scale advantage and international competitiveness.
The third highlight is the diversified innovation of channels in the apparel industry. In recent years, both domestic platforms such as Douyin and Kuaishou and cross-border e-commerce platforms have shown strong vitality. Behind the success of these platforms is the real industry. support, both sides help and complement each other. At the same time, clothing companies’ own brand development models are becoming more diversified and they are constantly exploring innovation in their own channels. The combination of channel and brand innovation constitutes the future competitive advantage of the apparel industry.
The fourth highlight is that a large number of garment companies are pragmatic and proactive in moving towards high-quality development. In the current general environment, Chinese clothing companies do not talk about “weather”, but only focus on efficiency. They do not look for the mayor, but only the market. Especially inStrength, the ability to innovate and create, convey the trends of the consumer market and the results of supply-side structural reforms. Communicate, explore, collaborate, innovate, and work together to face opportunities and the future. Let us move forward together!
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