U.S. Clothing Retail Renews in May

According to the latest data released by the US Department of Commerce, retail sales of goods in the United States in May were US$455.6 billion, which was a seasonally adjusted increase driven by automobiles, restaurants, clothing, and online sales. This was a 0.5% increase from the previous quarter. Excluding the more volatile cars and components, the US retail sales in May increased by 0.4% from the previous month. From a breakdown, US catering and apparel sales increased by 0.8% month-on-month in May, sales of sporting goods, books, and music products rose by 1.3% month-on-month, and online sales also rose by 1.3%.

According to an interview with a reporter from China Garment magazine, people in the industry believe that the growth in the retail sales of apparel products in April and May indicates a rise in household spending power, and that the US economy is expected to rebound in the second quarter. According to the report of “Chinese Fashion” magazine’s official website today, the US clothing apparel sales, the American wage earners and civilian clothing consumer price index, and the US apparel consumer price index have all been displayed. This sign.

Sun Xun, a researcher at Utah International Brand Consulting (Beijing) Co., Ltd., said in an interview with a reporter from China Fashion Magazine that, overall, the US apparel market was 225 billion U.S. dollars in 2012, and it is expected to reach 2025 in 2025. 285 billion U.S. dollars. Among them, the growth rate of the e-commerce segment has been around 10% in recent years, with an estimated growth rate of 13.7% in 2016 and 14.9% last year.

Sun Xun said that, as a whole, the US apparel and apparel industry is in a situation of slowing growth. 97% of clothing in the U.S. market is manufactured globally, and China has always been the largest supplier of U.S. clothing to foreign trade. About 30% of apparel sold in the U.S. market is also sourced in China. However, Sun Xun also believes that with the changes in China's consumption structure, the US garment market has also been tested by the changes in the economy and consumer personality. For example, the performance of fast fashion brands in the US market is not satisfactory. However, compared with the Chinese market, although the US apparel market is slightly weak, it still benefits from the relative maturity of the market and the relative stability of foreign trade. The growth is expected to remain relatively stable and flat.

Sun Xun pointed out that the US apparel market, especially the outdoor sports market and the luxury goods market, has brought some driving forces, among which the large-size women's wear part is a relatively blank market, and there will be great potential in the future. According to statistics, in 2015, Chinese tourists spent about 1.2 trillion yuan overseas. In 2015, Chinese consumers' global luxury consumption reached 116.8 billion U.S. dollars. In the whole year, Chinese people bought 46% of the world's luxury goods. Of this, 91 billion US dollars occurred in foreign countries, accounting for 78% of the total. This also contributes a lot to the growth of U.S. consumption.