Insight into the Chinese underwear market

Judging 2015 China Underwear Market: Grasping the Era of Consumption Upgrading

The underwear industry has risen in China for only 20 years, but its annual sales have reached more than 200 billion yuan, and it is still growing at an annual rate of nearly 20%. Economic development and consumption escalation have brought about huge consumption growth in the underwear market. In 2015, changes in the industry trends brought about by consumption upgrades will be highlighted.

In terms of trends, the subdivision of underwear products will be the trend of the future development of China's underwear market. Underwear brands conduct in-depth research for consumers of all ages, strata, and style preferences, develop subdivided product lines, and consolidate or extend products. Line, continuously improve the advantages to meet consumer demand. Some manufacturers who pay attention to independence and independence pay more attention to the improvement of design and craftsmanship. This provides a technical basis for product subdivision. User-oriented product development thinking will subvert the traditional product orientation model and accelerate the formation of a new value creation system. New business models will continue to emerge. Brand building based on strong products will form leading companies in various segments.

Market segmentation opportunities

The concept of market segmentation was originally proposed by the American market scientist Wendell R. Smith. In his theory, he emphasized that the market segment is not based on the product variety and product series, but from the consumer. Dividing the perspective, that is, the diversity and diversity of consumer demand, motivation, and purchasing behavior dominate the market segmentation, which in turn affects the production and marketing of the company.

In 2014, what was the hottest in the underwear industry? There was no doubt that the rimless bra was in the front row. Instead of a sponge bra, it is also gaining momentum into a new hot spot. The continuous escalation of consumers’ concerns about women’s health has led to the gradual growth of underwear products related to this. From the initial shame and basic clothing to shaping and adjustment, underwear has entered a new era of “healthy” and “comfortable”.

This all stems from the constant escalation of consumer demand. The upgrading and diversification of consumer demand also pushed the underwear industry to market segmentation.

Product segmentation has become a necessary condition for brand underwear to further dominate the market. Many companies know that taking a series of products to eat the world is very difficult to achieve in the future. However, companies cannot determine the competition between products and categories because the basic driving force of market segmentation is the differentiation of consumer demand. What changes will happen to the consumer demand for underwear in 2015 and in the future?

Market segmentation is first and foremost the breakdown of the crowd. The forecast of the underwear industry prospects shows that, as far as the consumer groups are concerned, they can be divided into urban and rural areas, men and women, girls and women, and so on. More and more, underwear practitioners have discovered that they are faced with a crowd that has never been seen in China: they grew up in a more privileged economic environment, lived in symbiosis with the Internet, and have a broader perspective, pursuing trend and personality. , pay attention to environmental protection and health. They are urban young people who are mainly composed of 80s and 90s.

When these young people walked into the workplace, had independent economic capabilities, and had more decision-making power in their consumption, their choices showed distinctive characteristics that were different from those of the previous generation. As the main force to promote consumption upgrades, the most obvious performance of this upgrade is price. We have found that this group of people is increasingly willing to spend on higher-priced brands.

Chr (34) Greg Chr (34) Brand Chairman Huang Yuhong told reporters that consumers’ demands for home clothes have gradually increased and consumers’ purchasing power has increased. The price of home clothes is no longer simply concerned with the price. More Focus on the value presented by the product. According to market research, in choosing the price level of home service, people tend to choose mid-to-high-end exquisite home clothes that can reflect the value of the product.

Market segmentation is not only reflected in product prices, but also reflected in the richness of product categories. As far as the current status of China's underwear market is concerned, underwear sales are becoming more and more branded, the thermal underwear market is becoming saturated, the sales of knitted colored cotton underwear are booming, and women's underwear brands are abundant. The market for girls, children, and men's underwear is yet to be developed. In addition, some specialized markets will gradually be discovered and occupied, such as

Professional size, professional flat chest, professional fat humane chest, professional pregnant women, professional Mummy and so on.

Wu Mg, Chairman of the Charm Curve Brand, said that the Chinese underwear market will continue to be subdivided in the future. The gaps and space are very large. There is no need to get together in a single category and plagiarize each other. In fact, this phenomenon has become a common market headache for the industry chr (34) chronic disease chr (34), disorderly, chaotic market competition is not conducive to the healthy and sustainable development of market segments.

Product Process Regression

Craftsmanship in underwear, the meaning is self-evident. Fabric and craftsmanship are the main expressions of underwear value. A small fabric and a slight angle of seam adjustment can bring a new look. The upgrading of consumers and the reshuffling of the industry all call for the initial return of the underwear industry, starting with process innovation and pushing the industry forward steadily.

In 2014, the underwear industry did not lack profound reflection; in 2015, we will see more rational corporate behavior. "Return" was the reporter's most frequently heard word from the underwear operator during the interview in the past year. The first secret honey brand general manager Wang Dongwu told reporters that the product idea that should be misled by the past channels should return to the original appearance of the bra, that is, comfortable, stylish and sexy.

Whether it is the nature of returning to the product or the creation of new products, it depends on the improvement of the overall industrial technology level. For example, the rise of non-steel bras has benefited from the maturity of a molding process, and the development of new fabrics has created new market hot spots such as non-sponge bras and technology-type underwear.

Increasing product technology can sometimes seem like a "passive" choice for businesses because of the increasingly transparent information and smarter consumers. Ma Bin of the New Century family believes that after years of education, consumers have become professional. They are no longer ignorant of the types and functions of fabrics. High-tech, functional and environmentally-friendly textiles will become the mainstream of underwear brands, senior cotton fabrics will continue to receive attention, and the development of traditional natural fibers in the direction of deep processing and finishing.

Guge Huang Yihong holds the same opinion, she said, consumers are no longer confined to the choice of a single product style, instead tend to choose a variety of styles, styles and quality inspection, which requires companies to pay more attention to the product's style, Style design and quality assurance, so as to evoke the desire of consumers to buy more.

The emphasis on enthusiasm and enthusiasm for innovation in craftsmanship is in addition to responding to increasingly astute consumers. It is also a respect and love for the industry. In the underwear industry, the pursuit of product technology innovation, have to mention Rongli costume Chairman Zhu Xiangdong, he is a rare underwear industry, new technology, new products, always excited to pursue the pursuit of entrepreneurs. In the second half of 2014, Rongxi's Zixiu bra officially launched the market. For this reason, Zhu Xiangdong invested 20 million yuan for four years.

Zixiu’s approach may be difficult to respond to in a short period of time because huge investments and long waits are not affordable for all companies. However, it is certain that although the entire industry is far from mature, more and more manufacturers attach importance to product technology and design innovation.

Outside the enterprise, industrial clusters also place technological innovation at an unprecedented height. In this regard, Shenzhen seems to be ahead. In November 2014, the “China Silicon Design for Underwear Design” project was officially signed in Shenzhen and will be officially launched this year. It is understood that this project has attracted the attention of French and Italian underwear designers. After the completion of the project, 20 to 30 international top underwear designers will be invited, such as the famous French brand design studio stella cadente, etc. to form underwear design studios. International Design Master Personal Creative Studio provides international consulting services for Chinese underwear brands.

“The terminal is the king” and “The channel is the king”. These slogans were once considered the most famous in the underwear industry. With the advent of a new era of consumer upgrades, “consumers are the king” has become the new standard for corporate brand development. The breakthrough of the model also followed.