BizVibe: Chinese Apparel Market Continuing to Thrive

China's sportswear and online apparel markets are growing rapidly. (Graphic: Business Wire)

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LONDON--()--With one of the largest economies in the world, China is full of opportunities for apparel vendors, including in online retail and sportswear. Details about these markets are some of this week’s top stories on BizVibe. BizVibe is the world’s smartest B2B marketplace and allows users to discover high quality leads, contact prospects, and source quotes. Register today to connect with over seven million companies around the globe.

China’s online apparel market growing by 20% annually

The popularity of online shopping is continually growing, and China is no exception. Indeed, China’s online retail market is the largest in the world, worth USD 750 billion as of 2016 with 460 million shoppers. By 2020, these numbers are expected to grow to USD 1.7 trillion and 660 million, respectively, according to Goldman Sachs. Apparel, footwear, and accessories make up almost a quarter of these sales, and the category is expected to grow at an annual average rate of 20% through 2020.

Approximately 75% of consumers in China shop for clothes and accessories online. This is being driven in part by cross-border shopping, as China’s standard of living improves and consumers are exposed to more products from foreign countries. Experts anticipate that China will soon surpass the US as the world’s largest online clothing market.

Connect with nearly 1,000 clothing companies in China listed on BizVibe

Sportswear market booms in China

With the largest population in the world and a boost from several government initiatives, China’s sportswear market is developing rapidly. It currently has a growth rate of 11%, considerably higher than the US, which is the world’s largest market for sportswear but is growing at only 2.5%. China’s population of 415 million millennials is contributing to this, as is its growing middle class. People with higher incomes tend to participate in more leisure activities, including sports, leading to rising demand for activewear.

China’s government is encouraging this rising interest in sports with multiple investments. In order to combat the rising number of health problems such as obesity in the country, the government has launched a five-year fitness plan that will make investments in sports and fitness facilities. The plan involves USD 225 billion in national spending by 2020. China also aims to increase the number of soccer pitches in the country from 50,000 to 70,000 by 2020, and increase the country’s sport economy to USD 850 billion by 2025. With such a strong focus on sports and fitness, the sportswear market in China has a promising outlook for the next several years.

Connect with top sports apparel companies worldwide listed on BizVibe

Connecting with textiles companies on BizVibe

BizVibe is home to over 150,000 textiles and apparel companies around the world, with businesses specializing in everything from sportswear to safety apparel. Connecting with any of these companies is simple thanks to the aggregating, categorizing and parsing of data from thousands of sources using machine learning tools and several sophisticated algorithms. This advanced match making program provides the user with a full set of inbuilt tools designed to connect like-minded business with each other, making business life easier.

The BizVibe platform allows you to discover the highest quality leads and make meaningful connections with your companies of interest in real time. Claim your company profile for free and let BizVibe connect you with potential business partners.

About BizVibe

BizVibe is home to over seven million company profiles across 700+ industries. The single-minded focus of BizVibe’s platform is to make networking easier. Over the years, we've searched far and wide to figure out how businesses connect and enable trade. That first interaction is usually fraught with the uncertainty of finding a potential partner vs. a potential nightmare. With this in mind, we've designed a robust set of tools to help companies generate leads, shortlist prospects, network with businesses from around the world and trade seamlessly.

BizVibe is headquartered in Toronto, and has offices in London, Bangalore and Beijing. For more information on the BizVibe network, please contact us.

Contacts

BizVibe
Jesse Maida
Media & Marketing Executive
media@bizvibe.com

Release Summary

An overview of China's sportswear and online apparel markets.

Contacts

BizVibe
Jesse Maida
Media & Marketing Executive
media@bizvibe.com