1 This Year’s USFIA Fashion Industry Benchmarking Study: What Sourcing Executives Think about China The United States Fashion Industry Association (USFIA) released recently its fourth annual Fashion Industry Benchmarking Study (the Study) 1 , which was based on a survey of sourcing executives from 34 leading US fashion companies in April-May this year. The Study reveals the executives’ views on the outlook of the US fashion industry, sourcing trends, compliance and the US trade policy agenda, etc. Our last issue of Asia Sourcing Flash summarizes the key findings of the Study, and in this issue we will take an in-depth look at what sourcing executives think about China, which saw its share in the US textile apparel import market continue to shrink, from 38.6% in 2015 to 36.8% in 2016 in value terms 2 . China’s unshakable position in textile and apparel sourcing Although US fashion companies continue to seek low-cost alternatives to China, the country’s position as the top sourcing destination remains unchanged. According to the Study, 91% of fashion companies source from China, the most frequently used sourcing base. It is followed by Vietnam (88%), India (76%) and Indonesia (73%). But to our surprise, the percentage was not 100% for the first time since the Study began in 2014, signaling a decline in China’s overall attractiveness in textile and apparel sourcing and a shift in US fashion companies’ sourcing strategies. Among its Asian competitors, China has remained a dominant supplier in many categories of textile and apparel products in the US (Figure 1). The Study shows that, for example, of the 106 categories of apparel, China was the top supplier for 88 categories. 1 For a full copy of the Study, please see http://www.usfashionindustry.com/pdf_files/USFIA-Fashion-Industry- Benchmarking-Study-2017.pdf 2 Data from the Office of Textiles and Apparel (OTEXA). In SME (Square Meter Equivalent) terms, China’s share in US textile and apparel import market slid mildly to 47.9% in 2016 from 48.6% in 2015. Asia Sourcing Flash 31 July 2017 Fung Business Intelligence Global Sourcing Timely alerts and insights tracking major developments in Asia’s fast-changing sourcing landscape
4
Embed
Asia Sourcing Flash - Fung Business Intelligence Sourcing Flash... · executives’ views on the outlook of the US fashion industry, sourcing ... sourcing base. It is followed by
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
1
FF
This Year’s USFIA Fashion Industry Benchmarking Study: What Sourcing Executives Think
about China
The United States Fashion Industry Association (USFIA) released recently its fourth annual
Fashion Industry Benchmarking Study (the Study)1, which was based on a survey of sourcing
executives from 34 leading US fashion companies in April-May this year. The Study reveals the
executives’ views on the outlook of the US fashion industry, sourcing trends, compliance and the
US trade policy agenda, etc.
Our last issue of Asia Sourcing Flash summarizes the key findings of the Study, and in this issue
we will take an in-depth look at what sourcing executives think about China, which saw its share in
the US textile apparel import market continue to shrink, from 38.6% in 2015 to 36.8% in 2016 in
value terms2.
China’s unshakable position in textile and apparel sourcing
Although US fashion companies continue to seek low-cost alternatives to China, the country’s
position as the top sourcing destination remains unchanged. According to the Study, 91% of
fashion companies source from China, the most frequently used sourcing base. It is followed by
Vietnam (88%), India (76%) and Indonesia (73%). But to our surprise, the percentage was not
100% for the first time since the Study began in 2014, signaling a decline in China’s overall
attractiveness in textile and apparel sourcing and a shift in US fashion companies’ sourcing
strategies.
Among its Asian competitors, China has remained a dominant supplier in many categories of
textile and apparel products in the US (Figure 1). The Study shows that, for example, of the 106
categories of apparel, China was the top supplier for 88 categories.
1 For a full copy of the Study, please see http://www.usfashionindustry.com/pdf_files/USFIA-Fashion-Industry-Benchmarking-Study-2017.pdf 2 Data from the Office of Textiles and Apparel (OTEXA). In SME (Square Meter Equivalent) terms, China’s share in US textile and apparel import market slid mildly to 47.9% in 2016 from 48.6% in 2015.
Asia Sourcing Flash
31 July 2017
Fung Business Intelligence Global Sourcing
Timely alerts and insights tracking major developments in Asia’s fast-changing sourcing landscape