In 2020, the vast majority of fabric products have been devastated by the shrinking demand caused by the epidemic. Reduced orders, inventory backlogs, and lack of funds are the main problems faced by most textile companies. last year’s status. But there is a type of fabric that is basically the most popular in addition to anti-epidemic fabrics. This type of fabric is home textile products.
The demand for home textiles is very strong in 2020
According to statistics, sales of home improvement and enhancement products in the United States increased by 23% in the first eleven months of 2020. Among them, sales of home textile products increased by 13%. The growing demand for home textile products in the US market has driven the sales of many home textile retailers.
Among them, Big Lots, a North American chain retailer, saw an astonishing sales increase in the second fiscal quarter, especially its home textiles, which increased by nearly 50% year-on-year. AtHome, another large North American home textiles retailer, had sales of US$515 million in the second quarter of 2020, an increase of 50.5%. Net profit for the quarter was US$89.4 million, reaching an exaggerated level of growth of 760%, far exceeding net profit in the same period last year.
Domestic fabric manufacturers have also felt the growth in foreign trade demand for home textiles. According to Mr. Shen, a manufacturer of wide-width pongee, “Home textile products are indeed easier to sell in 2020. All the machines in our factory are fully operational. When the market conditions are not good, the operating hours are not reduced, and there is basically no inventory.” , these products are sold to Walmart in the United States.”
The home textile market will begin to gain momentum in 2021
Of course, it is not only the home textile foreign trade market that is booming, but the home textile domestic trade market is also booming. In 2019, the market size of my country’s home textile industry increased to 250.2 billion yuan, with a compound annual growth rate of 7.11% from 2016 to 2019. In 2020, the size of my country’s home textile market was 270.7 billion yuan, an increase of 8.19% compared to 2019. The domestic epidemic in early 2020 did not have too much negative impact on home textile products. On the contrary, the growth rate of the home textile market in 2020 was much higher than that in previous years.
As people’s income levels increase, people The demand for quality of life is getting higher and higher. Home textiles have gradually become an important means for people to improve their quality of life and beautify their furniture environment. The scale of the home textile market will grow faster and faster. It is predicted that the scale of the home textile industry will reach 293.7 billion yuan in 2021, with a growth rate of 8.5%. After the year, the domestic home textile market has begun to be very lively.
After the Spring Festival this year, there was a wave of upsurge in the textile market. A large number of fabrics were shipped. At the same time, driven by the increase in raw material prices, the prices of various fabrics also ushered in a rise. Generally speaking, the price increase of home textile fabrics is obviously much higher than that of other fabric products. The Taihu Lake Shade Cloth Home Textile Association raised the price of shade cloth twice within one week of the new year. Not only was the frequency alarming, but the increase was also greater than once. The first general increase was only 1-1.5 yuan/meter, and the second time it doubled to 2-3 yuan/meter. Even though the rise in fabric prices is partly driven by the surge in raw material prices, such high-frequency and substantial price adjustments are obviously difficult to achieve due to rising raw material prices. The most fundamental reason must be that home textile products are selling well and weaving companies are in short supply, so they have the right to adjust prices.
The reason why home textiles are so popular
The number of clothing companies closing down due to the epidemic in 2020 Huge, which has also led to a sharp drop in clothing orders. All types of clothing fabrics are naturally unsalable, but home textile products are completely different. Consumers who have been stuck at home for a long time have accelerated the upgrading of various home textile products. At the same time, all kinds of hypermarkets and supermarkets selling home textile products did not close down. On the contrary, they were full of people, and the sales of home textile products naturally increased.
Under the epidemic situation and the global economic downturn, the home textile market has been able to perform so perfectly. This year, when the global epidemic is about to be controlled, the home textile market will be even more promising. What you do. On the one hand, there is an obvious recovery trend in the industry’s mid-to-high-end brand market driven by the recovery of economic channels and channel recovery. On the other hand, the rise of the new middle class and the development of third- and fourth-tier cities have driven consumption upgrades, thereby changing the consumption habits of home textiles, increasing consumption frequency and the demand for high-quality products. Finally, the current relaxation of policies on housewarming, weddings and second-child policy, as well as the development of tourism, have driven the development of farmhouses and hotels, all of which will bring about new development needs in the home textile market.
It is reported that Americans’ home textile shoppingPurchase rates are among the highest in the world, with an average of approximately 1 billion towels and approximately 550 million sheets and pillowcases purchased annually for towels and bedding alone. Our domestic home textile market will also climb to about 300 billion yuan this year. In fact, many domestic textile companies are vigorously replacing wide-width looms and expanding into the home textile market.
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