SinoInteractive Research Looks at the Emerging Leaders of the Online Clothing Retail Industry in China
SHANGHAI, April 15, 2016 /PRNewswire/ -- According to SinoInteractive, a China-based PR company, annual clothing sales in China will exceed $300 million in 2019, up 25% from 2014. By comparison, apparel sales in the United States are estimated to hit $267 million in three years, meaning China will surpass the U.S. as the world's largest apparel market by the end of the decade.
The report, which compared industry performance in the world's two largest economies, says that despite the strengthening of the Chinese currency, the Renminbi, and rising raw material and labor costs directly impacting the Chinese clothing market, China still continues to be a global leader.
Apparel made in China for U.S export has an applied tariff rate as high as 9.63% for textiles and 16.05% for clothes; free trade agreements under negotiation may see that be replaced by products made in Asia.
Sino Interactive took a deep look at the apparel exporters of China. One of the rising e-commerce giants is Globalegrow, another is Sammydress.com, which aims to deliver higher quality fashion at a lower cost. In SinoInteractive's view, e-commerce giants such as Globalegrow (Sammydress.com), Alibaba and others will constitute up to 50% of the global e-commerce market by 2018.
Companies like Sammydress work with numerous clothing factories and suppliers based in the south of China. The company enjoys positive reviews and has an international group of personnel which is the key to satisfying clients from different regions.
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SOURCE SinoInteractive
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