World Boutique, Hong Kong was organized by Hong Kong Trade Development Council (HKTDC).
Seventy percent of the respondents in a recent Trade Development Council (TDC) survey on trends in the clothing industry believe this year's market outlook will be better than last year.
Oracle Added Value, an independent survey company commissioned by TDC, interviewed a total of 400 exhibitors and 736 buyers attending the Hong Kong Fashion Week and World Boutique this week.
According to the survey, the abolition of textile and clothing quotas among WTO members last year has continued to increase export interest to regions where the quota system was previously applicable, namely, the US, Canada, Turkey and European Union. Sixty-nine percent of the exhibitors interviewed said that they expect to sell more goods to these countries in 2006 than 2005. The estimated average increase in the volume of products sold is 19%.
About 70% of respondents said 2006 will be better than 2005. Both exhibitors and buyers think that age groups 21-25 and 26-30 have the highest growth potential. White collar workers and professionals/ managers/ executives are expected to be the market segments with the highest growth potential.
Regions with biggest growth in retail market: The Chinese mainland is regarded as the largest growth region, followed by Western Europe and the U.S. The average growth rate for these regions is expected to be around 20%.
The estimated average growth rate of the Chinese mainland market in 2006 is 22%. The top five cities with the biggest growth potential are Shanghai, Beijing, Guangzhou, Hangzhou and Shenzhen.
marketing@alchempro.com
