Underwear industry: integration and concentration are in progress

“After 30 years of development, although China's underwear industry is still immature, it has apparently faded from its original awkwardness and the integration of various categories is about to come.” One industry insider predicted the underwear industry in China.

The Chinese underwear market is a developing market. Each underwear category has its own strong brand, and each strong brand influences mainly in one category. In the same category, different regions often have different leading brands, and different brands dominate the markets in different regions. Even the talents are the same. Good at doing small underwear is intractable to the thermal underwear market. They are not good at macro-market operations. They are good at doing thermal underwear but are not good at store management. However, there are clear signs that integration and concentration are in progress.

The harsh channel environment caused by excessive irregular competition in the department store industry poses a great challenge to brand building. Consumers often underestimate the value of products sold in the supermarket channel, allowing mid-range brands to enter the department store industry and form a high degree of brand reliance on the department store industry. The fierce competition in department stores and department stores has led to a sharp increase in the cost of channels, and retail prices have thus been unreasonably high. When the retail price is overstretched, how to support the retail price that is forced to increase is the problem that each brand has to consider. The creation of brand texture and consumer acceptance has become an important consideration in brand strategy.

The underwear market has not yet cultivated a full-fledged dealer group. On the one hand, thermal underwear, as an alternative to the underwear market, has nurtured and introduced a large number of underwear dealers with financial strength and independent market operations. They are good at distribution and have the courage to invest in the market. Most of them lack sufficient awareness and store management tools to enhance single-store shop efficiency. On the other hand, although bra brand dealers often come from single-store shop owners, they are innately good at store management, knowing and caring about how to tap potential from single stores, but because The main bra brands are directly operated in the first-tier cities and even some second-tier cities. Therefore, bra dealers often do not have the opportunity to operate large-capacity markets and do not need large amounts of capital. Therefore, they often do not have a large amount of capital and independent market operations.

The maturity of lingerie brand franchise stores requires the appealing brands plus multi-category Four Seasons products that can support the turnover, and the key is that the brand mainly depends on the dealer system rather than the self-operated system to operate the market. A large amount of resources to support self-employed, and relying on dealers, but its product line width and low brand appeal to consumers often make single-store sales can not support profitability at the same time enhance the brand. Although the strong brands of first-line bras have strong brand appeal and product design advantages, they have basically chosen self-competition due to history and similar competition. Although the second- and third-tier cities are handed over to dealers, they are generally preferred in the supply of goods. The supply of self-operated terminals to discourage high-end guarantees and discriminatory policies against distributors, set dealers a very high supply price in terms of price deduction rate in order to avoid shocks. All these restrict the successful development of lingerie brand franchise stores in the past.

There is no doubt that impact and joint effects of thermal underwear are no doubt that thermal underwear is the most dynamic and ever-growing category in the underwear market.

Through reference to the short-term operation mode of health products, a group of excellent health care product distributors and followers entered the underwear industry. They personally experienced or saw the magic of the high input and high returns of the health care products market, and brought this “magic power” and courage into the thermal underwear industry. This splits the already quiet and stable underwear market into a special zone in which short-lived heroes and celebrities emerge in an endless stream. For the first time, the underwear industry has become a public concern through high-frequency sub-media advertising. Thermal underwear in the field of underwear has become an important part of the underwear industry. It is mainly anti-offspring and does not have the characteristics of underwear or even clothing marketing models. When the "gold mine" is over-exploited in the short-term, like other products in the Chinese health care industry, thermal underwear as a product is being speculative to the extreme, it will be extremely frustrating, and it will be exquisite and beautiful. Its conventional nature. If it is a health care product distributor, he will not hesitate to abandon this “brand” and product that he wears, and then repeat the move to another new “brand” new product. However, thermal underwear distributors are not so lucky. Their network resources and experience only allow them to run new brands of “warm underwear” rather than new products. Lack of product innovation naturally can not have new profits.

All categories have passed the initial stage of development and the integration period will come, including bras, pajamas and home wear, and traditional underwear.

Bra. When high-end brands in the category began to promote high-end Bra in China, the target population could only be mature women with spending power, because then only they could have such spending power. Afterwards, almost all the major brands followed this "Red Sea." The development of economy and consumption in the past two decades has resulted in the creation of a new "blue sea": the girl's bra. A more youthful, young girl with a more youthful personality, and a younger mindset, allow us to position our differences in youthful people – they are generally between 16 and 28 years old, and have their own opinions on sexy understanding. They know how to express their “own” advantage to delight themselves in attracting others, instead of relying on the use of social representations. The instrument of youth, vitality, cheerfulness, and confidence is the sexiest! They understand this more than anyone else. In addition, the needs of girls, sports needs, etc. have become the basis for further subdivided bra style. Shorts were also richly evolved during the same period, and T-BACK and S-BACK were among them. Different occasions, different collocations, and even different moods have become the reasons for buying different bras. Smaller underwear market further subdivision, personalized development, flourishing era is coming.

Pajamas and home clothes. The promotion of economic development and simultaneous lifestyle changes in the pajamas and home wear market is obvious, because the consumption of pajamas and home wear can better reflect the quality of life and quality of life. Pajamas and home services are first used as accessories in the underwear area in the form of packaging. Sales, development to enter the most high-end department stores set up a large area of ​​the counter, along with this process is the continuous increase in product retail prices, the corresponding product style, fabric, color more diversified, in a sense, fine The premise is that there is enough market capacity to support a more detailed classification, so it also proves the rapid development of this category. In the so-called “black October” underwear in 2005, there are 30 popular pajamas and home wear. -40% increase in sales indicates that high-end consumption is growing rapidly. At the time, this impressed all mall managers and lingerie dealers, and led to pajamas and home service in 2006. At the same time, we found that this category actually does not have a national strong brand. Although some products have a certain reputation, the main influence is limited to a certain area. The swimwear developed steadily. The only national brand that could be perceived by consumers failed to maintain the brand value through correct strategies. Frequent inventory clearance and special prices made it easy for consumers to think that there was no mid-to-high-end brand in this category. However, the existence of high-end bras and pajamas markets has no doubt that the high-end swimwear market exists. Individual bra brand's high-end swimwear performance is impressive. Other categories such as lingerie and children's underwear have also begun to gain independent development.

The development of traditional underwear in China has experienced three revolutionary innovations. For the first time, regular underwear brands launched high-quality underwear suits, urging consumers to pay attention to the quality of underwear and investing in it, which is product innovation; the second is the so-called “warm underwear” we call the first generation of thermal underwear to bring They only made slight adjustments to the product, but successfully imported the health product marketing model. In terms of marketing promotion, this was an innovation. This ad hype campaign has caused the underwear industry to receive a high degree of social attention and is favored by investors. Another beneficial result of the field sport is the substantial increase in underwear consumption levels and product prices; the third is the so-called “fashion underwear” that we call the second-generation thermal underwear. This innovation is mainly carried out on products. The adoption of more colorful colors and garment design elements began with the emphasis on terminal prop design. These changes can be regarded as the return of conventional underwear and the revision of thermal underwear**.

For the third so-called change, the results are obvious: the first generation of thermal underwear basically declined, and the second generation of thermal underwear is still alive. However, such achievements are also obviously limited. Seasonalization of products and seasonal positioning of brands in the minds of consumers make sales mainly in autumn and winter. Sales venues are often located in seasonal thermal underwear areas. In addition, the lack of self-owned capital investment by brand operators has led to increasing reliance on dealer funds. This ultimately made it impossible to implement the long-term vision and detailed requirements that mid- to high-end brands should have. Thermal underwear improvement. The fundamental change - the real implementation of store management and store improvement - cannot be achieved. And the concept of fashion underwear does not exist for consumers and department store managers. They are thermal underwear.

In summary, the changing underwear industry is looking forward to further integration and improvement.

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