The global apparel industry faced numerous challenges in 2023

In December 2022, Just-Style consulted industry professionals and scholars in the apparel industry for its 2023 trend outlook. This article will provide an in-depth interpretation for domestic cross-border sellers and suppliers.
 
2023 remains a year full of challenges and opportunities for the global apparel industry.
 
Firstly, the apparel industry may face a global economic slowdown and weakening consumer demand in 2023.
 
The apparel industry is a buyer-driven industry, meaning that the industry's trade volume and output will be affected by the macroeconomic environment. With rising inflation, high energy costs, and a tightening global supply chain, major international economic institutions such as the World Bank and the International Monetary Fund (IMF) consistently predict that global economic growth will continue to slow down in the new year. Similarly, the World Trade Organization (WTO) predicts that world merchandise trade will grow by about 1% in 2023, far below the 3.5% in 2022.
 
It is estimated that global apparel trade will see a slight increase of 0.8% to 1.5% in the new year, reaching its lowest level since 2021. On the other hand, declining demand may help alleviate the increasing pressure on procurement costs faced by fashion companies in the new year.
 
Secondly, fashion brands and retailers may continue to utilize diversified sourcing and strengthen relationships with key suppliers to cope with the volatile market environment.
 
According to data from the 2022 Fashion Industry Benchmark Study conducted by the US Fashion Industry Association (USFIA), nearly 40% of surveyed US fashion companies plan to source apparel from different national markets and collaborate with different suppliers by 2024. Notably, "improving flexibility and reducing resource risks," "reducing sourcing from China," and "exploring near-shoring opportunities" are the main drivers of US fashion companies' diversified sourcing strategies.
 
Meanwhile, fashion companies will continuously optimize their supplier base, and the future scenario of "cooperating with fewer suppliers" is not uncommon. For example, fashion companies increasingly prefer to cooperate with so-called "super suppliers," those with multi-country manufacturing capabilities or those that can vertically produce textiles and apparel, in order to achieve procurement flexibility and agility.
 
As more and more fashion companies recognize the value of a "supplier-centric" business strategy, we can also see a more balanced relationship between suppliers and importers in the new year.
 
Thirdly, the importance of improving procurement sustainability and using sustainable textile materials will be highlighted in the new year.
 
On the one hand, with increasing stakeholder expectations and driven by new regulations, fashion companies will make greater efforts to develop more sustainable, socially responsible, and transparent apparel supply chains. For example, more and more fashion brands and retailers are voluntarily starting to publicly release their supplier information, such as factory names, locations, production functions, and compliance records. In addition, new traceability technologies, and close cooperation with suppliers, will allow fashion companies to better understand their raw material suppliers than in the past. It is worth noting that rich supplier data will provide important support for fashion companies to optimize existing supply chains and improve operational efficiency.
 
On the other hand, as consumers become increasingly interested in the sustainability of the fashion industry, fashion companies will also cater to market demand and continuously launch such environmentally friendly clothing. Recent research shows that sourcing garments made from recycled textiles not only produces positive environmental impacts but also helps fashion companies gain commercial benefits. In the US retail market, a large proportion of such products originate from "Made in the USA" or from emerging sourcing markets such as Africa (e.g., Tunisia and Morocco). For Chinese suppliers, enhancing the production capacity of such clothing may further help retain buyers' funds when the buyers "relocate" their sourcing.
 
Related to environmentally friendly clothing, we may also see more support in the future from trade policies such as tariff preferences for fashion companies.
 
At the same time, driven by various economic and non-economic factors, fashion companies may further explore "supply chain near-shoring" strategies in 2023, and they will also need to pay more attention to the impact of existing free trade agreements and their specific mechanisms on their procurement practices.

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Insufficient domestic and foreign demand for home textiles in China in 2022

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Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance

Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance

On March 3, Wang Yongqing, Vice President of Xiamen CNOOC Group, visited Tongzhou Group for investigation and guidance. Wei Gangmin, Chairman of our company; Huang Hongyu, President; Li Tao, Vice President; and Zhang Zhiyan, Director of the General Office, met with and participated in a symposium.

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Leaders from Xiamen C&D Group visited Tongzhou for investigation and guidance
Tongzhou Cotton Market Brief, Week 1 of March 2025

Tongzhou Cotton Market Brief, Week 1 of March 2025

1) This week's National People's Congress and the Chinese People's Political Consultative Conference (NPC & CPPCC) in China boosted market expectations for steady growth. In February, the Purchasing Managers' Index (PMI) for manufacturing stood at 50.2%, up 1.1 percentage points from the previous month, indicating a significant improvement in the manufacturing sector.

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Tongzhou Cotton Market Brief, Week 1 of March 2025
In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.

In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.

In 2024, China's dyeing industry saw rapid export growth to ASEAN and RCEP member countries, exceeding the overall export growth rate. However, this growth was accompanied by a decline in prices. From January to December, China's exports of eight major dyeing products to ASEAN totaled 7.908 billion meters, a year-on-year increase of 12.14%, 4.61 percentage points higher than the overall export growth rate, accounting for 23.58% of total exports. The average export price was US\$1.19 per meter, a year-on-year decrease of 2.75%, 0.64 percentage points lower than the overall decline. Exports to RCEP member countries totaled 8.431 billion meters, a year-on-year increase of 11.35%, 3.82 percentage points higher than the overall export growth rate. The average export price was US\$1.17 per meter, a year-on-year decrease of 2.79%, 0.60 percentage points lower than the overall decline.

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In 2024, China's exports of dyed and printed fabrics to Vietnam and Bangladesh increased significantly.
President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

On February 28, Mr. Huang Hongyu, President of our company, was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference and, as a guest speaker at the "Xiangshan Roundtable," shared his views on the cotton market and trading opportunities.

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President Huang Hongyu was invited to attend the 2025 Zhangjiagang Cotton Industry Development Conference

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