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Other Added - Overview Of China fashion industry
A job fair represents a good opportunity for job seekers to meet with the job offers in persons, meaning with the employing companies representatives. If you are looking for a job, a job fair is an event you shouldn’t miss. You will have the chance to interact personally with the employers and you will get a glimpse on the companies inside. You will also have the opportunity to meet a lot of employers in a short time and in the same place. And you may even get an interview right there if you are exactly what the employer is looking for.In order for you to best benefit from a job fair, here are some tips you should take into consideration.First of all, always do your homework before attending a job fair. Study the list of the companies participating to the job fair and select those you are interested in applying for a job. Keep in mind that you will have limited time at the job fair and you will not be able to meet all the employers. Therefore, make your own list of companies and do some research on them. Check their web sites; get familiar with their specific field of expertise.
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 Repo
Loose Lips; Sink ShipsA friend of mine just called and said that he was told that he was going to get laid off.I said to myself I know this guy's working habits and he's the last guy anybody would want to lay off. So it must be someone who wants to undermine him. If you are on the job, and someone comes up to you and says there is going to be a layoff, do not let this affect your attitude towards work.Some people think that this is a form of entertainment. They prey upon individuals who are insecure. If you are doing just fine, and you are not on the lay off list, and you let this information affect you, then you run the risk of making a logistical error, that may in fact, put you on the layoff list, when you would have never made it there in the first place.This is corporate psychological warfare, and the perp (or perps) of the rumor have a motive, and that motive is to disrupt your productivity.By running their little game, they attempt to increase their
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 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 Repor
I first learned of this particular concept of strengths and excesses in the context of annual performance appraisals. Periodic performance feedback, coupled with an annual performance appraisal, is an integral part of a well-run business. Honest appraisals which inform the employee of his or her development needs are critical to helping the employee improve. They also help the business improve because its employees are improving their performance. It’s a “win-win” proposition.Unfortunately, not all appraisals are honest. The one for the outstanding employee is easy to conduct and is a pleasure. The one for the marginal employee can be difficult because the discussion can become argumentative and contentious. I have seen too many managers avoid the tough performance appraisal by simply deeming an employee’s performance to be satisfactory and avoiding any discussion of development needs.This is unacceptable because it is unfair to the marginal employee. Sooner or later the true assessment will come to light and it will be a shock to the employee. Perhaps it will come in the form o
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 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 Repo
Go into any bookstore and you will find a big selection of self-help and personal improvement products. Most everyone (and I’ll bet everyone reading this) wants to improve. We know we need to get better, and we want to get better. We may want to improve our personal relationships, our business capabilities, our ability to be disciplined, our desire to juggle four chain saws, or any of hundreds of other things. In that book store you can find books to help you do any of those things! In many cases though, those books start half way through the process. After writing the last chapter about identifying our potential I realized that identification of our potential, while critical, isn’t the complete answer. It is only the first step. If we want to reach our potential, we must start by identifying our greatest areas of potential. With that knowledge, we must take a step-by-step approach to making that potential reality in our lives. It is no different than a business identifying its core strengths in order to best capitalize on the opportunities they see. When we sta
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 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 Repo
It's the question you dreamed about when you were ten years old. It's the question your parents nagged you about during high school. It's the question that stresses most of us out more and more the older we get. "What do you want to be when you grow up?"After living on a college campus for three semesters now, I'm realizing that most people have some really screwed up ways of figuring out the answer to that question. I have friends who are studying political science but hate politics, nursing majors who hate biology, and accounting majors who hate math. Obviously, a lot of people are confused about what exactly it is that they want to spend their life doing. Think about it. If your job lasts from 9-5 each day, you're going to end up spending over 50% of your awake life at work. Personally, I think it's important that we spend that 50% wisely. But how can you make sure that you do? Here are some cool tips for how to decide what you really want to be when you grow up.Relax and Keep an Open MindContrary to popular belief, you don't have to "choose a career" and stick
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 Repo
Everyone knows that the sports team with the highest morale wins. In fact, every manager wants high morale in his/her group. So why do most managers create low morale in their employees? In truth, given the societal, educational and workplace related influences, it would be amazing if managers did not create low morale and severely damage employee motivation.From birth, most of us are told what to do. We receive a rather overwhelming number of orders, directions and policies from those who believe we should follow their dictates; parents, teachers, churches, government and finally bosses in the workplace. This is commonly referred to as the top-down command and control management model. Having been literally bombarded with this model, it is unsurprising that the vast majority of managers adopt it as their own.But what of the people being managed with this model? Unfortunately for managers, no one likes to take orders and all consider it to be demeaning, degrading and disrespectful. In addition, they also feel demeaned and degraded if no one listens carefully to their idea
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
Due to the geographical enormity of China and the huge variation of economic development between cities, market potential differs from city to city. The table below shows the disparity in GDP per capita, where the wealth is located in the coastal cities. Cities are classified into tiers based on population and per capita GDP, Shanghai, Beijing and Guangzhou are tier 1 cities. Report 3 explores in detail regional differences in the Chinese fashion industry.
Fashion Industry in China
Market Segments
Initially there were two markets for apparel in China: 1. low priced basic apparel sold under local brand names and offered in Chinese department stores, foreign hypermarkets or small family owned specialty chains
2. luxury brands sold either in franchised boutiques or upscale department stores. Due to the rapid growth of China’s middle class a new category has emerged, involving quality brands, both Chinese and foreign, being sold in department stores and specialty stores. Consumers in China’s middle class are increasingly sophisticated, demanding higher quality, variety and innovation from their retailers. The new category is highly fragmented and is dominated by specialty casual brands from Hong Kong, such as Esprit (514 outlets), Giordano (644) outlets, Baleno (980 outlets) and Glorious Sun (1,076 outlets). The new segment has significant growth potential as it is affordable to the middle class but positioned at a price point slightly higher than local brands. Prices in Clothing have dropped slightly in 2006. This is due to the increased competition in the
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