The Rapid Rise In Unit Price Has Led To Over 20% Growth In Clothing Retail Sales.
In 2011, the retail sales of China's clothing market increased by over 20%.
The 2011 Annual consumer goods market statistics released by the China Federation of Commerce and the China National Business Information Center show that sales of clothing market in China continued to grow rapidly in 2011, and the growth rate of clothing retail sales of wholesale and retail enterprises above Designated Size and major large-scale retail enterprises nationwide was over 20%.
The rapid rise of the unit price of clothing is an important factor in stimulating the sustained growth of clothing sales in 2011. According to the data of the China National Business Information Center, the price of brand clothing in the major retail enterprises in the country increased by 20.3% over the same period in 2011, and 1.2 percentage points faster than that in 2010.
The contribution rate of unit price growth to retail sales growth is as high as 79.9%, which is 28.2 percentage points higher than that in 2010. That is to say, the growth of garment retail sales in 2011 is almost 80% from the rise of unit price.
The rapid growth of clothing prices, especially the accelerated growth of brand clothing prices, has brought greater pressure to consumer clothing consumption. In 2011, the volume of retail sales of all kinds of clothing in the major large-scale retail enterprises increased by only 4.36% over the same period last year, a sharp decline of 5.84 percentage points compared with the growth rate of retail sales in 2010, and the lowest level since 2001.
In 2011, the rapid rise of clothing prices triggered a sharp downward trend in clothing consumption in China, and the growth rate of high-end clothing consumption slowed down significantly.
According to the statistics of the China National Business Information Center, in 2011, the retail sales of high-end clothing stores in major retail enterprises in China increased by only 10%, an increase of 11.5 percentage points lower than the overall level, and a 12.7% decline in the volume of retail sales.
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