China's consumer confidence index has reached a new high and consumer enthusiasm continues to rise. In the first quarter of 18 years, China's consumer confidence index hit a 10-year high, reaching 122.3, an increase of 11.3 percentage points over the same period in 17 years. According to Nielsen's “China Consumer Confidence Index Report for the First Quarter of 2018”, the growth of the consumer confidence index in the first quarter of 18 years was the result of three factors: employment expectations, personal economic conditions and consumer willingness. The Ministry of Commerce estimates that the total retail sales of consumer goods in 2018 will increase by about 10% compared with 17 years, the online retail sales will increase by about 30%, the added value of major domestic trades will increase by about 7%, and the contribution rate of consumption to GDP growth will be stable at more than 60%. Continue to maintain the first driving force for economic growth.

The new trend of textile clothing consumption, consumers from "combination" to "self". From the perspective of demand, the preferences of Chinese consumers are becoming more diverse and their tastes are becoming more and more personalized. From the perspective of information acquisition, consumers and brands have more and more contact points, which have changed from one-way brand push in the past to top-down consumption guided by users. Consumers' purchasing decisions have gradually become omnichannel, and they have increased online shopping behaviors for international brands. At the same time, they have become more aware of global brands and local brands. Online has become an increasingly important terminal shopping channel. In addition, we have discovered from the study of light luxury women's clothing and home textiles that consumers pay more attention to “self-awareness” and “emotional needs” in brand selection, and begin to think deeply about the connection between brand and personal value, brand awareness and personal taste. The design and production of sophisticated products are the primary factors consumers decide to purchase.

Spinning clothing from recovery to industry reversal, optimistic about light luxury women's clothing and high-end home textiles. After the apparel industry has experienced the inventory cycle, retail recovery, and bottoming out of the valuation, the industry's competitive landscape will gradually optimize in the new round of growth cycle in the future. Among them, leading brands and brands with differentiated positioning are expected to achieve better growth in the future. . McKinsey expects sales of light luxury products to grow by 11%-13%. By 2020, China's light luxury women's wear market will rise to 180-200 billion yuan. In addition, the mid-to-high-end bedding market has shown a duopoly, and leading companies have benefited from increasing market concentration. We believe that the recovery of mid-to-high-end offline consumption is conducive to the growth of strong home textile brands. Leading enterprises will continue to enjoy the sales scale and profit margin brought by the increase in industry concentration. In the future, home textile enterprises will gradually show the competitive pattern of strong and strong.

China's sportswear entered the golden period of development, and the consumption of sporting goods continued to escalate. China's sportswear industry is driven by factors such as national fitness, state support, and sports socialization. After experiencing the painful recession in 2011-2013, the domestic sports shoe market gradually recovered from 2014. By 2016, the domestic sports shoe market began to enter a new growth period. As the income level of residents continues to increase and the concept of consumption changes, people's demand for sports is accelerated. In 2018, along with the further increase in consumption upgrades and the strong consumption power of third- and fourth-tier cities, the reform of domestic leading sports enterprises has gradually achieved results, and operating profits have steadily improved. We believe that sports goods companies in the second half of 18 years are expected to adopt multi-dimensional and all-category products. To meet the needs of consumers for different types of sports and life, industry concentration is further concentrated in leading enterprises.