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Casual Articles - Overview Of China fashion industry
When someone asks you about what you do, do you have a ready answer? Or do you stumble and stammer trying to explain your business?I was recently at a writer’s conference where one of the main focuses was learning to create a successful book pitch. My instructor emphasized what a good pitch can do for a writer. She explained that when an editor asks an author about their writing project, they have one shot at sharing their pitch and getting the editor excited about their project. A great pitch makes a great first impression and can translate into a book contract. On the other hand, a pitch that is not well thought out can cost an author the chance of selling that project.A good book pitch is a summary of the author’s idea, but more than that it’s a summary with a sizzle. At the conference, I learned that many authors spend hours crafting and memorizing their pitch. Then, when asked about their project, they are able to give a quick, concise synopsis that not only explains their idea, but makes the editor want to learn more.I believe that the concept of creating a pitch c
The government’s tolerance of greater Yuan volatility and the higher GDP has caused expectations
When you have to deal with one of your team who's complaining to you, rather than allowing your negative programmes to take over, get your thinking part in gear and try to see the situation the way they see it. You don't necessarily have to agree with them but perhaps you can empathise with their point of view.The successful manager thinks about the people they have to deal with, is sensitive to how they see things and knows that they might think differently than they do.Let me give you an example: I've always had a thing about good timekeeping; it's something that's been programmed into my brain. If you agree to meet me at 8.30 in the morning, I'll be there at 8.20; I will always do my utmost be on time.So I used to get angry when a member of my team would show up late for a meeting or an appointment with me. When I got angry I'd get stressed and end up saying something that I regretted later. Therefore, I learned to start thinking about the situation and try to see it from their point of view and not let my programming run my brain.That doesn't mean to say I ign
The Chinese economy continues its dynamic performance, averaging around 10% growth for the last 5 years. As barriers to entry are reduced, more and more businesses are considering their entry into China. This is in an effort to capture some percentage of the returns generated by China’s 1.3 billion consumers.
This series of reports is intended to provide fashion retailers, who are planning to enter China for the first time, with an overview of the Chinese fashion industry. In addition, the reports act as a quick update for companies who have already entered China as it touches on the industry, trends, brands available, wholesale and retail pricing, type of clothing cutting preferred, consumer behavior and updated regulations. A key challenge when entering China is the different regions in China. Consumer behaviour and preferences for food, fashion and lifestyle vary dramatically in these regions. For example, retailers should not assume that products or Fashion styles that sell in Shanghai will also be popular in Xiamen which is in southern China.
The series of reports includes:
Report 1 Overview of China Fashion Industry
Report 2 Regulations: an overview of the regulatory environment in China
Report 3 Regional Analysis: Analysis of the key regions in China from a retail perspective
Report 4 Women’s Fashion and Consumer Behaviour
Report 5 Teen’s Fashion and Consumer Behaviour
Report 6 Children’s Fashion and Consumer Behaviour
Report 7 Men’s Fashion and Consumer Behaviour
Report 8 Recommendations
Economic Conditions in China
China’s economy grew by 10.2% in 2005 and 10.7% in 2006 making it the fastest growing major economy in the world. It is forecasted by the banks (Quarterly Bank reports) that GDP would drop to 8% in China in 2007. (Goldman Sachs), though in our opinion GDP rate may be higher due to increased production and consumption. In 2006 China’s urban living expenditure increased at a higher rate than GDP, both on a national as well as provincial basis. Despite strong growth, inflation remains moderate with monthly inflation averaging 1.3% year on year from January to September 2006. It is forecasted that annual growth in consumer prices will reach 1.8% in the early 2007. This is because higher land prices would impact production costs. Increased investment would in turn feed inflationary pressures.
The government’s tolerance of greater Yuan volatility and the higher GDP has caused expectations
If you like the idea of being self employed yet entering the marketplace with an already established business then a franchise might be a good opportunity for you. However, there is a lot to learn about franchises before taking a leap into this entrepreneurial world. Your previous business experience, amount of investment, and personal preferences will play a huge role in whether or not you are suited for a franchise. Plus, you will need to have a franchise idea to help you get started.All franchises have the possibility of being lucrative and they all have the possibility of failing. Most of the time the making or breaking of a franchise is the franchise owner and his ability to overcome problems that present themselves not to mention staying dedicated to the franchise at all times. There are three basic types of franchises, including wholesale distribution, products, and services. The type of franchise you should pick is not the one that has the supposed possibility of making you the most money because this simply won't work. The most lucrative franchise for anyone is the one they fi
The series of reports includes:
Report 1 Overview of China Fashion Industry
Report 2 Regulations: an overview of the regulatory environment in China
Report 3 Regional Analysis: Analysis of the key regions in China from a retail perspective
Report 4 Women’s Fashion and Consumer Behaviour
Report 5 Teen’s Fashion and Consumer Behaviour
Report 6 Children’s Fashion and Consumer Behaviour
Report 7 Men’s Fashion and Consumer Behaviour
Report 8 Recommendations
Economic Conditions in China
China’s economy grew by 10.2% in 2005 and 10.7% in 2006 making it the fastest growing major economy in the world. It is forecasted by the banks (Quarterly Bank reports) that GDP would drop to 8% in China in 2007. (Goldman Sachs), though in our opinion GDP rate may be higher due to increased production and consumption. In 2006 China’s urban living expenditure increased at a higher rate than GDP, both on a national as well as provincial basis. Despite strong growth, inflation remains moderate with monthly inflation averaging 1.3% year on year from January to September 2006. It is forecasted that annual growth in consumer prices will reach 1.8% in the early 2007. This is because higher land prices would impact production costs. Increased investment would in turn feed inflationary pressures.
The government’s tolerance of greater Yuan volatility and the higher GDP has caused expectations
Response rates to Yellow Page advertising are decliningThere's no getting around it, traditional Yellow Pages are in trouble. Fewer people use them every year. Even the best- pulling ad in the section isn't getting the number of callers or sales it used to. At the same time, the monthly cost to maintain your same-size directory ad keeps going up.Simply tinkering with ad size (or options like color) can't compensate for the adverse developments. Declining usage impacts each directory category differently. Some (like contractors and lawyers) are declining more steeply than others. Emergency service providers (tow trucks, plumbers) are holding their own. While categories like cell phones and lawn furniture are growing rapidly, with increased consumer demand.Advertising only in the Yellow Pages is no longer a safe bet- Over half of all customers go to the Internet first to find product information and sources - even if they intend to spend their money locally- People increasingly trust the Internet as a source of information about major purchases (and
The series of reports includes:
Report 1 Overview of China Fashion Industry
Report 2 Regulations: an overview of the regulatory environment in China
Report 3 Regional Analysis: Analysis of the key regions in China from a retail perspective
Report 4 Women’s Fashion and Consumer Behaviour
Report 5 Teen’s Fashion and Consumer Behaviour
Report 6 Children’s Fashion and Consumer Behaviour
Report 7 Men’s Fashion and Consumer Behaviour
Report 8 Recommendations
Economic Conditions in China
China’s economy grew by 10.2% in 2005 and 10.7% in 2006 making it the fastest growing major economy in the world. It is forecasted by the banks (Quarterly Bank reports) that GDP would drop to 8% in China in 2007. (Goldman Sachs), though in our opinion GDP rate may be higher due to increased production and consumption. In 2006 China’s urban living expenditure increased at a higher rate than GDP, both on a national as well as provincial basis. Despite strong growth, inflation remains moderate with monthly inflation averaging 1.3% year on year from January to September 2006. It is forecasted that annual growth in consumer prices will reach 1.8% in the early 2007. This is because higher land prices would impact production costs. Increased investment would in turn feed inflationary pressures.
The government’s tolerance of greater Yuan volatility and the higher GDP has caused expectations
When there is such an enormous choice of ways to make money at home, it seems strange that so many people fail when they try to start their own home business. Do they all choose the wrong business for them or is there something inherently wrong with the idea of earning money working from home? The statistics produced in regard to home businesses say that 90% will come to an end within the first five years. Ninety percent is a frighteningly high failure rate. If we assume the statistics are correct, should we let them deter us from working from home?Some people quote a failure rate of 95% or 98% for Internet based businesses but, for now, let's assume the failure rate is at the same 90% level for any home business (online or offline). One thing that the figures don't reflect is that five years is a long time for most of the people who start their own home based business. All sorts of people, for all sorts of reasons, decide to have a try at making money working at home. However, the majority of the people who decide to start a business so they can work at home are mothers of youn
Report 8 Recommendations
Economic Conditions in China
China’s economy grew by 10.2% in 2005 and 10.7% in 2006 making it the fastest growing major economy in the world. It is forecasted by the banks (Quarterly Bank reports) that GDP would drop to 8% in China in 2007. (Goldman Sachs), though in our opinion GDP rate may be higher due to increased production and consumption. In 2006 China’s urban living expenditure increased at a higher rate than GDP, both on a national as well as provincial basis. Despite strong growth, inflation remains moderate with monthly inflation averaging 1.3% year on year from January to September 2006. It is forecasted that annual growth in consumer prices will reach 1.8% in the early 2007. This is because higher land prices would impact production costs. Increased investment would in turn feed inflationary pressures.
The government’s tolerance of greater Yuan volatility and the higher GDP has caused expectations
Universal Funnel Law #4 – Every business needs customers or clients. A customer relationship plan further develops loyal customers and serves as a source for ongoing referrals.W. Edwards Deming who is considered to be the father of continuous or quality improvement said “Profit in business comes from repeat customers, customers that boast about your project or service and that bring friends with them.” Deming truly understood the #3 Universal Funnel Law (http://ezinearticles.com/?id=92768) and recognized the importance of loyal customers and referrals within Universal Funnel Law #4.Customer satisfaction is now a click away. Developing loyal customers who can provide repeat business and referrals is a critical success factor in today’s fast paced, technology driven, global marketplace. A customer relationship plan that is in alignment with the strategic business plan, the marketing plan and the sales plan and is consistently implemented and monitored would seem to be a “No Brainer” for any business. Y
The government’s tolerance of greater Yuan volatility and the higher GDP has caused expectations of further exchange rate reform, which would result in faster currency appreciation. The potential impact would be that foreign clothing brands would find that their prices could be more readily accepted in the Chinese market.
Retail Industry in China
Increasing income in China and Government efforts in encouraging consumer expenditure have resulted in rising domestic consumption. Statistics show that total retails sales of consumer goods increased by 12.5% to RMB 6,718 billion in 2005. However, it drops slightly to approximately RMB 6,400 billion (US$770b) in 2006. One of the factors is the import quota imposed by US and European Union in 2006 (O&L). However, with the increase in income and domestic consumption, it is expected that the growth rate of retail sales can be maintained at about 10% in the next 5 years (O&L projection & Goldman Sachs Global Investment Report)
China’s clothing market has been growing at 7% and is now a USD40 billion industry. Department stores account for approximately 40% of the market. This includes stores like Parkson, Shanghai Bailian and foreign brands like Wal-Mart. Clothing brands sold in these department stores include both international brands like Hugo Boss and local brands like Li Ning, Borne, Joe One. Franchise chains and local individual clothing outlets in China account for the other 60% share.
Profit Margins for retail chains in China are high. Due to the lower costs of manufacturing in China, profit margins by these Clothing brands can be as high as 50.5% for brands like Giordano (2005) and Ports(70.4% in 2005) . The cities of influence for fashion in China are Shanghai, Beijing and Guangzhou. In addition locals and tourists travel to Guangzhou, Shanghai, Shenzhen for major fashion brands at cheaper prices. For manufacturing, there are different specialty regions. For example, Ningbo is more famous for manufacturing of bags while Guangdong especially Guangzhou is more famous for apparels.
The Different Regions in China
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