Where is the Chinese fashion industry going

· China’s fashion industry is experiencing growth and change, in which middle class has become brand-conscious, with strong purchasing power for luxury goods.

· Despite a recent decline, China’s luxury fashion segment is experiencing a resurgence and remains poised for continued growth. Most major global fashion companies have established a presence in China, and the second-hand clothing market in China is expanding.

· E-commerce fashion in China is growing with the development of livestreaming shopping and social e-commerce platforms. Low price is the key factor driving e-commerce fashion in China.

· China’s fashion industry is shifting towards sustainability as consumers demand ethical practices and responsible retailing. Sustainable fashion brands’ ability to overcome rising costs and changing consumer sentiment is still uncertain.

· The industry is embracing new technological trends such as NFTs, Metaverse, and Web 3.0, creating new possibilities and challenges.

· Chinese fashion companies are targeting Millennials and Gen Z, who have progressive consumption preferences. Brands need to innovate in product development, design, and strengthen their marketing and customer operations to keep up.

Source from DAXUE CONSULTING