Huge Pandemic impact on the Apparel Industry, Perseverance Ongoing
In 2021, under the influence of Convid-19 pandemic, the apparel industry faces unprecedented challenges, and the number of companies suffering loss increases significantly. Data shows that as of the first quarter, the number of enterprises in the textile and apparel industries in China is 13,113. Among them, the number of enterprises suffering loss was 4587, compared with 2948 in the same period last year, an increase of 55.6% year-on-year. Due to the global outbreak of the pandemic, it has had a huge impact on textile and garment factories, directly leading to a rapid decline in terminal consumption and serious inventory accumulation. Textile and clothing orders are getting smaller. During the pandemic, foreign textiles are in a state of halt. Partial cancellation or postponement of delivery has greatly increased the number of companies suffering loss.
In order to reduce the impact of the pandemic, many companies move retail businesses online, and seek consumption breakthroughs in the field of live broadcasting. A series of measures taken by apparel companies also reflect the perseverance of apparel companies. Though it’s hard, apparel business recovers little by little. Hanger business recovers little by little too. Hope year 2022 could be a peaceful year and business blooms in the coming new year.
