China Apparel Market
China’s apparel market, 2012
December 2012 Li & Fung Research Centre
In this issue:
I.
Market overview
p. 3
II.
Competitive landscape
p.10
p.17 p. 31
III. Latest developments IV. Snapshots of sub-sector performance
2
I. Market overview
3
Apparel sales grew by 24.2% yoy in 2011, reaching 795.5 billion yuan
• According to the National Bureau of Statistics of China (NBS), the total retail sales of clothing, shoes, hats and textiles* by enterprises above designated size** in 2011 rose nominally by 24.2% year-on-year (yoy) to reach 795.5 billion yuan (Exhibit 1). • The growth in 1-3Q11 was 17.8% yoy, reaching 666.5 billion yuan.
Exhibit 1: Growth in total retail sales of clothing, shoes, hats and textiles* by enterprises above designated size**, 2007 – 1-3Q 2012 Year yoy % change
2007
28.7
2008
25.9
2009
18.8
2010
24.8
2011
24.2
1-3Q 2012
17.8
Source: National Bureau of Statistics of China (NBS)
*“Clothing, shoes, hats and textiles” replaced the previous “clothing” category in the NBS announcement in 1-3Q09 Source: National Bureau of Statistics of China (NBS) ** Enterprises above designated size refer to enterprises with annual sales of 5 million yuan or above and with an employment of or over 60.
4
Urban and rural households on average spent 11% and 7.2% of their annual expenditure on clothing respectively
• The annual per capita disposable income of urban households grew by 8.4% yoy to 21,810 yuan in real terms in 2011. The annual per capita net income of rural residents reached 6,977 yuan in 2011, posting double digit yoy growth of 11.4%. • Urban households on average spent 1,674.7 yuan on clothing, accounting for 11% of their total annual expenditure in 2011; while rural households spent 341.1 yuan, which was 7.2% of the total annual expenditure on clothing in the same year (Exhibit 2).
Exhibit 2: Per capita annual expenditure on clothing* of urban and rural households, 2007-2011
December 2012 Li & Fung Research Centre
In this issue:
I.
Market overview
p. 3
II.
Competitive landscape
p.10
p.17 p. 31
III. Latest developments IV. Snapshots of sub-sector performance
2
I. Market overview
3
Apparel sales grew by 24.2% yoy in 2011, reaching 795.5 billion yuan
• According to the National Bureau of Statistics of China (NBS), the total retail sales of clothing, shoes, hats and textiles* by enterprises above designated size** in 2011 rose nominally by 24.2% year-on-year (yoy) to reach 795.5 billion yuan (Exhibit 1). • The growth in 1-3Q11 was 17.8% yoy, reaching 666.5 billion yuan.
Exhibit 1: Growth in total retail sales of clothing, shoes, hats and textiles* by enterprises above designated size**, 2007 – 1-3Q 2012 Year yoy % change
2007
28.7
2008
25.9
2009
18.8
2010
24.8
2011
24.2
1-3Q 2012
17.8
Source: National Bureau of Statistics of China (NBS)
*“Clothing, shoes, hats and textiles” replaced the previous “clothing” category in the NBS announcement in 1-3Q09 Source: National Bureau of Statistics of China (NBS) ** Enterprises above designated size refer to enterprises with annual sales of 5 million yuan or above and with an employment of or over 60.
4
Urban and rural households on average spent 11% and 7.2% of their annual expenditure on clothing respectively
• The annual per capita disposable income of urban households grew by 8.4% yoy to 21,810 yuan in real terms in 2011. The annual per capita net income of rural residents reached 6,977 yuan in 2011, posting double digit yoy growth of 11.4%. • Urban households on average spent 1,674.7 yuan on clothing, accounting for 11% of their total annual expenditure in 2011; while rural households spent 341.1 yuan, which was 7.2% of the total annual expenditure on clothing in the same year (Exhibit 2).
Exhibit 2: Per capita annual expenditure on clothing* of urban and rural households, 2007-2011