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Market Analysis: Understand The Trend Of European And American Markets In The Past Two Years

2022/3/24 19:05:00 0

　　 On March 11, 2020, the World Health Organization officially announced the new epidemic situation of global pandemic. Since then, countries around the world embarked on a two-year struggle against the new coronavirus. As of March 21, 2022, there are more than 470 million confirmed cases of new coronal pneumonia in the world. The virus has not been effectively curbed in the global scope. It is still difficult to completely stop the spread of the epidemic in the world in a short time. During the two years of coexistence with the epidemic situation, the world political and economic pattern and development have been impacted unprecedentedly, and the global major textile and clothing retail markets have also experienced ups and downs.

　　 In order to understand the development of major global textile and garment retail markets and look forward to the future development trend of major markets, the Secretariat of China textile international production capacity cooperation enterprise alliance has conducted a comprehensive analysis on the development track of textile and clothing retail in the United States, European Union, Japan and domestic markets in the past two years, hoping to provide information and reference for international development and cooperation of industry enterprises.

　　 Chapter one

　　 The U.S. market with big ups and downs and strong recovery

　　 Looking back over the past two years, the epidemic prevention and control measures of countries around the world have been constantly adjusted and changed. With the changes of the epidemic situation, policies such as home isolation and social distance have been intermittently changed. After the "ice age" at the beginning of the epidemic, commodity retail in major markets in the world has recovered slowly, but the development is extremely uneven. The U.S. retail market has recovered strongly with the help of many parties, and has experienced 24 months of ups and downs.

　　 "Two pronged" stimulus policy

　　 Help us stabilize domestic retail market quickly

　　 The continuous spread of new crown pneumonia has brought unprecedented pressure on the U.S. economy. In order to stabilize the development, the U.S. government has adopted a variety of response measures and a number of rounds of economic stimulus programs, monetary policy and fiscal policy "two pronged approach", effectively stabilizing the market. In 2020, the U.S. retail market experienced a great decline. By the end of the year, the total sales volume of the whole year increased slightly by 0.6% compared with that in 2019, which was basically the same as before the epidemic.

　　 In 2021, the U.S. economy will continue to improve. In March of that year, the new president signed and entered into force a $1.9 trillion economic stimulus bill, which includes about $1 trillion of direct subsidies (including subsidies and unemployment insurance) for American individuals and families, which plays a significant role in accelerating the recovery of the national retail market. In 2021, the total retail sales of the United States will be close to $7.42 trillion, with a year-on-year increase of 19.3%, even far exceeding the pre epidemic level (US $6.19 trillion, 2019). The sharp increase of consumption in the United States has also stimulated the development of its domestic economy. According to the data of the Bureau of economic analysis, the annual GDP growth rate of the United States in 2021 is 5.7%, which is the best performance in recent years, and the total GDP also reaches 22.99 trillion US dollars.

　　 The epidemic has led to a stable retail market in the United States

　　 Suffer the biggest decline in history

　　 Before the epidemic, clothing as a non necessity accounted for 2-2.5% of personal consumption expenditure in the United States. After the outbreak of the epidemic, consumers are more cautious about the consumption of clothing products, and the recovery and development of clothing consumption market has experienced a long time cycle. According to the data released by the Bureau of economic analysis, the proportion of clothing products in personal consumption expenditure in the United States will drop to 1.99% in 2020, and it will fall below 2% for the first time in recent ten years.

　　 From the monthly data, the U.S. retail market, especially the retail of clothing products, has experienced a historic slump. From March 2020, the United States began to take strict measures for epidemic prevention and control, and the implementation of home isolation policy will bring the offline retail market in the United States to a freezing point. In March, the total retail sales of the United States decreased by 5.9% year-on-year, and the retail sales of clothing and apparel (including shoes) decreased by 49%, far more than that of other consumer products. U.S. retail sales fell 16.4% month on month in April, 20% lower than the same period last year. The sales of clothing consumer goods fell 87% year-on-year, ranking the first among all categories. In the next eight months of 2020, the U.S. retail market is struggling. But thanks to the hot sales of food, home furnishings, sports and building materials, the overall sales are still climbing slowly. By the end of 2020, the total retail sales in the United States have been basically the same as that in 2019. However, the sales of clothing products are still in a dilemma and have been in a negative growth trend. The annual sales volume decreased by 26.4% year-on-year.

　　 "Revenge" consumption

　　 Helping us retail clothing products to surpass the pre epidemic level

　　 In 2021, under the multiple influences of the loosening of epidemic prevention and control, the stimulus of fiscal subsidies, and the rebound of consumer confidence, the total retail sales of the United States increased month by month and stabilized at a high level. Consumer's "revenge" consumption of clothing products also began to show signs. In the month when the $1.9 trillion economic stimulus bill came into effect (March 2021), the sales of us clothing products returned to US $25 billion, up 115.4% year-on-year, and 12% higher than the same period in 2019 before the outbreak. In April, this kind of products increased by 764.6% year on year, 10.8% higher than that of the same period before the epidemic. Since then, the retail sales of clothing (including footwear) products in the United States have been playing a triumphant song all the way, and the high growth has been maintained until the end of the year. In 2021, the sales of the above-mentioned products in the United States exceeded $303.1 billion, a year-on-year increase of 48.8%, and a 12.9% increase compared with that in 2019. Textile and clothing consumption basically entered the normal development track.