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Textile people must see! Six major textile turning trends in 2019
Release Date:
2019/01/16
"Most people like to grow, but there is a threshold. Growth is the future, difficult to predict; the threshold is established, easy to grasp. High threshold industry, new entrants are difficult to survive, so the industry supply is limited, orderly competition, conducive to corporate earnings growth. Low threshold industry, industry supply growth, disorderly competition, no one can make money."
"Most people like to grow, but there is a threshold. Growth is the future, difficult to predict; the threshold is established, easy to grasp. High threshold industry, new entrants are difficult to survive, so the industry supply is limited, orderly competition, conducive to corporate earnings growth. Low threshold industry, industry supply growth, disorderly competition, no one can make money." The textile industry has experienced many reshuffles of scale, and it can be said that it has reached a critical period of development.
So, how to seize the first opportunity to achieve a breakthrough?
Up to 75% of Textile Manufacturers Ready to Invest in Artificial Intelligence in 2019
Leading textile companies can use AI to aid creativity, design and product development, for example, they will use algorithms to sift through large amounts of data to predict which products consumers like best. Amazon has developed an algorithm that analyzes images to design clothes, copy popular styles, and use this data to make new designs. For example, ZARA uses algorithms to sift through large amounts of data to predict which products consumers like best.
Businesses will become more global and give some players a competitive advantage
Globalization and cross-border cooperation, despite all kinds of speeches about nationalism and the resurgence of manufacturing, the process of globalization will not stagnate. The exponential growth of cross-border connectivity and digitalization will change the competitive landscape, making businesses more global and giving some players a competitive advantage.
3. Platform first, textile brands seek cooperation with strong sales channels
The platform is becoming more and more important. Consumers are accustomed to using the online platform as the first search point. Textile brands should also seek to cooperate with these powerful sales channels. The question for textile brands should not be "what if they cooperate with the platform" but "how to cooperate with the platform".
4. Who can win in the end depends on whose technological innovation is faster and whose user experience is better.
As mobile payments are already used in large numbers around the world, consumers will expect fashion companies to also support increasingly convenient online transactions.
In the United States, mobile transactions are expected to reach about $930 billion in 2018, and in Western Europe, they are expected to grow by about 23% per year and reach € 148 billion in the next three years. But this market is already very crowded, and who can win in the end depends on whose technological innovation is faster and the user experience is better.
The challenges facing textile companies in this area will become more and more complex, from equipment support to cloud computing, mobile service providers to integration with offline channels. Regardless of which option they ultimately choose, security and privacy are still very much a concern for consumers.
5, the emerging sub-industry into a hot spot, enterprise development is no longer a one-size-fits-all unified assembly line of simple operation.
Under the fierce competition in the market, market segmentation has become inevitable. The textile market is in an unprecedented bottleneck period, and the development of enterprises is no longer a simple operation of a one-size-fits-all unified assembly line.
The "running economy" has brought about the growth of sports brands; the landing of the "comprehensive second child" policy has accelerated the development of the children's clothing market; the promotion of people's attention to personal clothing has brought about the development of underwear brands... This is the rise and development of the subdivision section, this is the opportunity!
6. Traditional companies will be forced to face the market with a more open attitude.
Due to the fierce competition in the industry and the urgent need for innovation, more and more fashion companies are beginning to emulate the characteristics of start-ups, such as flexibility, collaboration and openness. Traditional companies will be forced to be more open to the market, embracing new types of talent, new ways of working, new partnerships and new investment models.
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Shandong Codlove Blanket Co.,ltd
Shandong Cheng Qian Home Textile Co., Ltd
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