The U.S. apparel market is booming again



On April 16, several U.S. trade-related bills, such as AGOA (African Growth and Opportunity Act), were sent to the House of Representatives and the Senate for review. This news shocked many local American cloth…

On April 16, several U.S. trade-related bills, such as AGOA (African Growth and Opportunity Act), were sent to the House of Representatives and the Senate for review. This news shocked many local American clothing, shoe and hat retailers. , because the textile and apparel industry has benefited the most from AGOA, and they said that these long-delayed trade agendas finally see hope. In addition, not long ago, the United States also announced that it would fund US$150 million in research and development of new fibers and fabrics. These messages seem to reveal a strong signal that the textile and apparel industry in the United States will once again usher in the spring of development. The policy benefits the entire industry
It is reported that the bills submitted for review include the Trade Promotion Authorization Act (TPA), the Trade Adjustment Assistance Act (TAA), and the updated trade preferential plans include the African Growth and Opportunity Act (AGOA). These bills are of great significance to the development of import and export trade in the US textile and apparel industry.
Juanita Duggan, president of the American Apparel and Footwear Association (AAFA), said that the TPA can promote free trade negotiations between the United States and Asia-Pacific and European Union countries, because the signing of the TPA means that the U.S. Congress will set trade settings for the government. Negotiation objectives, and promised that once a trade agreement is reached, it will be voted directly and quickly without any modifications to the content. It can be said that the passage of TPA paved the way for subsequent trade plans such as the African Growth and Opportunity Act and the Generalized System of Preferences.
Juanita Duggan said: “We are confident that Congress will approve these trade measures as soon as possible. This is crucial for American textile and apparel companies developing in the United States or overseas. It can effectively help them reduce import costs, promote investment and Import and export trade growth.”
Julia Hughes, President of the American Fashion Industry Association, also said: “TPA is very important to the trade development of the U.S. fashion industry. Because TPA will prompt the Obama administration to reach the Trans-Pacific Strategic Economic Partnership Agreement (TPP), and TPP is an American fashion brand and core support for retailers to do business in the Asia-Pacific region. The American Fashion Industry Association has many members, who not only import products from all over the world, but also sell American fashion and other fashion products to the world. Textile and apparel brands, retailers, imports Merchants and wholesalers are full of hope for the passage of the bill and the future development of the industry.”
Clothing consumption has increased significantly
The U.S. market seems to be prosperous not only because the government has increased its support for the textile and apparel industry, but also in the consumer field, its market sales are also promising for the industry.
According to the US market research company NPD, total sales in the US apparel market have increased by 2% in the past year, with the increase mainly driven by online shopping and sales growth in smaller cities such as Orlando and Washington, DC. As of February of this year, total apparel sales in Orlando were up 23% compared with the same period a year earlier, while in Washington, D.C., they were up 18%, and in Phoenix and Cleveland, they were up about 16%. But New York and Los Angeles still account for the largest shares of the U.S. apparel sales market, accounting for 8% and 5% respectively.
Analysts said that the significant growth in sales is due to the fact that many retailers have begun to implement targeted product supply and sales, providing products that are more in line with the needs of local consumers based on their consumption habits, rather than selling the same goods across the country as usual. .
Sophia Song, co-president of SINO New York Fashion Group, who visits the U.S. market every year, has a deep understanding of this. She said: “Uniqueness and adaptability to local conditions are factors that have always attached great importance to the American market. The main reason is that the United States has a vast territory and great cultural differences between the east and the west. In New York, the popular colors are black, white and gray, while in Los Angeles, more colorful colors are preferred .”
In addition, according to a survey of American teenagers, the U.S. youth market contains approximately US$7 billion in business opportunities. Since the beginning of this year, teenagers’ spending power on clothing products has been increasing and they are optimistic about future economic growth. According to surveys, Nike, Ralph Lauren, and Victoria’s Secret are the most popular clothing brands among American teenagers.
A battleground for overseas brands
What caught our attention is that many international brands have also accelerated their expansion in the US market. British brand Burberry said that sales in the Asia-Pacific region fell last year, but the U.S. market brought surprises to the brand. Recently, the mid-term financial report released by UNIQLO stated that UNIQLO will speed up the opening of stores in the U.S. market. As of February 2015, the brand’s total number of stores in the United States was 39. However, judging from the sales situation throughout the winter, Uniqlo’s overall performance was lower than expected, and the opening expenses of new stores increased operating costs.
Despite this, Uniqlo still has not slowed down its pace in the US market, but has accelerated its progress. The brand will open three stores in Seattle and Denver this fall. Its U.S. CEO Larry Meyer said that Uniqlo will also set up more retail locations in the United States to meet the needs of consumers and tourists everywhere.
In this regard, Sophia said: “Not only Japanese brands are paying attention to the U.S. market, but Chinese brands are also very concerned. This is why many Chinese companies now want to go global. At present, some brands have set up stores in the U.S. market, and there areSome brands are selected by buyers and placed in American department stores or boutiques. “Sofia revealed that generally speaking, there is currently no Chinese brand that has been particularly successful in the U.S. market. Even JNBY, which has been developing in the United States for three or four years, has not been profitable.
She said: “No powerful brand can ignore the U.S. market. It can be seen from JNBY that even though it is not profitable, the brand has no intention of returning home because the U.S. has great consumption potential. In addition, Chinese brands have The development of the United States is not just for sales, but also to seek a sense of identity and tell the world that Chinese design can gain a foothold on this land.”

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Author: clsrich

 
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