The clothing industry lost 400 billion yuan in the whole year? How did the clothing industry lose 400 billion yuan throughout the year?

The clothing industry lost 400 billion yuan in the whole year? How did the clothing industry lose 400 billion yuan throughout the year? The clothing industry evaporated 400 billion yuan throughout the year, and live streaming boosted online sales

How did the clothing industry lose 400 billion yuan throughout the year? According to media reports, the clothing industry is experiencing the most serious "great retreat" since the reform and opening up. Some experts predict that the clothing industry's overall revenue will decrease by at least 400 billion yuan this year, and the overall market size will shrink by 15%. Most clothing brands are facing risks. "2020 is bound to be a turbulent year. It is estimated that the Chinese apparel market will lose at least 400 billion yuan in revenue, and the overall market size will shrink by 15%." Liu Jinyan, vice president of marketing at Convertlab, said in a keynote speech at a clothing conference in Shenzhen recently.

The clothing industry lost 400 billion yuan in the whole year

Authoritative data shows that in 1952, the total revenue of my country's textile and garment industry was 9.4 billion yuan. By the end of 2019, the total revenue of my country's textile industry had reached nearly 4.5 trillion yuan. In 67 years, the total revenue of the textile industry has increased 478 times.
Amid the epidemic, the global clothing industry is having a hard time. Public information shows that Nike has started public layoffs and suffered a huge loss of 5.6 billion yuan in the fourth quarter of fiscal year 2020. In addition, Levi's had a net loss of 364 million US dollars in the second quarter of 2020, compared with a profit of 28.507 million US dollars in the same period last year. The company announced that it will lay off approximately 15% of its global corporate employees. In addition, H&M will close 170 stores and Zara is considering closing thousands of stores.

Faced with a rare industry shock, how should people in the clothing industry save themselves? Judging from the situation in the first half of the year, one of the mainstream paths is to boost online sales through channel innovations such as live streaming and social e-commerce to make up for the current sales decline.