Analysis Of The Current Situation Of Men'S Wear Market In China

The men's wear market that 60% developers are optimistic about is a business that makes money but is not "waiting to see" by shopping centers.

Commercial real estate headlines learned that in Shanghai's global port, some women's clothing brands are lower than men's clothing brands. This kind of phenomenon is not a special case of Shanghai global port, but has certain industry universality.

In contrast, in shopping centers, men's clothing stores are generally less than women's, especially in high-speed cities. According to Yingshang big data, as of June 11, 2021, in the shopping centers with an area of more than 50000 square meters in the four first tier cities, the proportion of men's and women's clothing stores is 11% - 16%.

Behind the data difference is the fact that it is difficult for men's wear brands to enter shopping malls. Hailan home has disclosed in the offline exchange meeting with Huaxi Securities that the shopping malls clearly stated that "men's wear brands are not needed to settle in", and it is even more difficult to enter the first tier business circle of first tier cities.

Why do men's wear categories encounter such an embarrassing situation? How should shopping centers treat the value of men's wear brand correctly?

Men's wear market is big, but not popular with shopping malls

Chinese men's wear market, is a huge sweet cake.

According to Euromonitor's forecast, China's men's wear market continues to grow steadily and has an attractive prospect. In 2021, the growth rate of China's men's wear market will reach a high of 13.1%. After 2025, it will also maintain a steady growth rate of 3%. Moreover, the men's wear market is expected to exceed 100 billion yuan in 2023.

On the other hand, according to Euromonitor, men's wear ranks second only to women's clothing in the proportion of retail formats. However, the "sense of being" of the two in shopping centers is quite different.

In 321 cities with different line levels, the average proportion of men's wear in retail business is about 10.18%. Among them, the proportion of the four first tier cities is the lowest, only 7.10%, which is obviously not as good as the sinking market, and the average proportion of women's wear in the first tier cities is far lower than that in the first tier cities (about 19.95%).

On the other hand, a survey of 10 benchmark shopping centers from the commercial real estate headlines shows that: in the past two years, men's wear brands are struggling to enter mall and expand the number and area of shopping center stores. However, in the first half of 2019-2021, the interest of many benchmark shopping malls in men's wear categories is gradually declining, and the number and area of men's wear brands introduced are decreasing.

In terms of specific projects, Xiamen SM, Shanghai port huihenglong, Shanghai Vientiane city and Guangzhou Tianhe City are all listed.

Behind the strong contrast is the result of the interaction of men and women's consumption habits, shopping center operation logic, fast fashion and cross-border rush of sports brands.

/ / there are big differences in consumption habits between men and women, and shopping malls prefer women's clothes

According to the traditional public perception, there is a big difference between men and women in shopping habits. Compared with women, men's clothing demand is mainly comfortable and rigid, with clear shopping purpose, relatively low frequency and stronger stickiness to the brand.

This perception, reflected in the operation of shopping centers, is that the proportion of men is also lower than that of women in consumer portraits. According to the report on consumer insight of China's shopping centers in 2020-2021 released by Nielsen IQ and China Chain Store Association, 46% of men and 54% of women.

Female customers have the upper hand, which makes the shopping center operators pay more attention to meet women's consumption needs when choosing retail categories, such as women's wear, beauty make-up, gold jewelry, fashion accessories, etc., which to a certain extent reduces the entry space of men's wear brands.

Overall, Yingshang big data shows that in the shopping centers of more than 50000 square meters in 24 core cities, the number of men's clothing brands accounts for 11.80% of the total number of clothing brands, while women's clothing brands account for 44.9%, becoming the mainstream clothing category.

Taking Shenzhen Vientiane city and Shenzhen Bay Vientiane City as examples, both are benchmark projects in Shenzhen's high-end business district, and retail is the dominant format. The number of introduced clothing brands is quite different, but both of them "value women more than men".

Commercial real estate headlines: according to the official program statistics, there are 92 clothing brands in Shenzhen Vientiane City, with men's clothing accounting for only 10% and women's clothing up to 45%. There are 52 clothing brands in Shenzhen Bay Mixc, with men's clothing accounting for about 17% and women's clothing accounting for 35%.

/ / fast fashion and sports brands share men's wear business

In addition, clothing collection stores of fast fashion brands such as Zara and gap, as well as sports brands such as Nike, Adidas, Anta and Li Ning, also split part of the men's wear market.

In the process of the research on the "men's clothing consumption demand in shopping centers" in the commercial real estate headlines, more than half of the male consumers give priority to sports brands and comfortable brands such as UNIQLO.

This feature is also confirmed in the data published by Euromonitor. In 2020, the top three brands in men's wear market are Hailan home, Adidas and UNIQLO.

In addition, it is worth noting that the major comprehensive leisure brands are increasing the size of men's wear market by developing men's clothing lines and opening separate men's clothing stores.

As early as the beginning of 2019, lululemon announced that it expected to double the sales of men's products by 2023, hoping to achieve annual revenue of more than $3.8 billion in fiscal year 2019 through the expansion of men's business. In addition, H & M's first men's clothing concept store will open in Beijing Xidan Joy City in January 2022.

Under the influence of various comprehensive factors, the existence of men's wear brands in mall is weak. However, change is happening.

Men's wear brands are taking over shopping centers

"Other economy" is booming, and the male consumption power which has been underestimated for a long time is rising.

According to the 2021 "other economy" Research Report -- insight into men's new consumption "released by China Mobile think tank, clothing, sneakers, bags and hand-made fashion games are the most popular fashion products men buy. In addition, according to the data from October 20 to November 11 of this year's double 11, the proportion of male buyers exceeded that of women for the first time.

At the same time, cosmetics, skin care, jewelry and other categories are trying to grasp the "man's heart". Taking cosmetics and skin care products as an example, according to incomplete statistics, since 2020, 10 men's cosmetics brands represented by Li Ran and LAN series have obtained 14 financing times.

Under the background of male consumption consciousness awakening, men's clothing brands actively reshape brand power, deepen brand culture and values, and put forward their own lifestyle propositions. In terms of channel development, focus on segmentation areas, further insight into young consumption trends, and enhance brand competitiveness.

As a result, more and more shopping centers adjust their investment promotion strategies and attach more importance to men's wear categories and brands.

In 2021, a number of new benchmark shopping centers have been opened in Shanghai, such as lalaport Lala Baodu, Raffles on the North Bund, taiguli on the foreshore, Ruihong Tiandi Sun Palace, one east Expo Plaza, Daning Jiuguang Department store and Songjiang impression city. Among these shopping malls, men's wear brands with different positioning and styles have become attractive scenic spots.

It is also men's wear entering the shopping center, and brands such as Hailan home, LiLang, Youngor and boss provide a good example. In recent years, the above-mentioned brands have improved their brand competitiveness by making efforts in quality, popularity and multi brand strategy, and their popularity in shopping centers in first tier cities has gradually increased.

Take Hailan home as an example, the number of stores in its shopping center has been growing steadily in the past two years, and the number of shopping center stores in the first tier cities is constantly increasing. According to Yingshang big data, as of the third quarter of 2021, Hailan home has 109 stores in shopping centers of more than 50000 square meters in first tier cities, and the number of stores in Shanghai ranks first among the four first tier cities, with 41 stores.

"Unlike department stores, which focus on selling products, consumers in shopping centers care more about the sense of appearance, experience and scene." Wang Rongze, the manager of Boni baoni brand, believes that men's wear brands can be further expanded in this channel as long as they meet the core needs of a certain customer group in the shopping center.

The implementation depends on the brand's efforts in store image, product and marketing.

/ / enhance store image and enhance offline experience

Taking Hailan home as an example, when entering the shopping center, it cooperated with the requirements of developers to upgrade the design and image of the store. The image of white characters on silver gray background and the traditional visual impression of yellow characters on blue background were refreshed.

A similar men's wear brand is Boni Boni, which launched a new image store of "Boni icon" this year, which breaks the dull atmosphere of previous business men's wear, and shows the elegance, delicacy, low-key luxury and comfort of the brand.

/ / new heights of product innovation

In terms of products, in recent years, men's clothing brands have been constantly adding a lot of creativity. Through co branding with artists and cross-border cooperation, men's wear brands can improve their appearance, quality and cost performance.

For example, Jinba men's wear focuses on Humanities and art. For the fourth year in a row, Jinba men's wear series "Meng with tiger" is released. Jinba men's Clothing Co branded capsule series, which combines traditional folk custom of Jinjiang, the birthplace of the brand, and the tiger of king of beasts, infuses cultural and artistic feelings into jacket, and has a cross-border joint name with aviation culture and innovation, Pay homage to the spirit of "loyalty and dedication, dream of the blue sky", and show the vitality and details of "China jacket"; GXG, on the other hand, pays more attention to the construction of its own IP projects. It has launched a new product strategy focusing on the special planning of GXG "youth down manufacturing bureau" and "wool cable company", so as to continuously tap into young consumers.

/ / marketing helps to lead the consumption trend

Appropriate brand marketing is also an important reason to trigger consumer behavior. In this era of "wine is also afraid of deep alley", brand marketing is a continuous long-term investment, which needs to pay a lot of human, material and financial resources. In this way, it is possible to occupy the memory of consumers for a long time and win in the competition.

Just like the multi art brand mark Huafei, through in-depth cooperation with Ren Jialun in 2021 and landing on the debut of Shanghai Fashion Week in autumn and winter 21, mark Huafei has established a new brand DNA this year, and has completed the visual upgrading of nearly 200 stores. And these actions enable mark Warfield to continue to lead and innovate in the forefront of the trend.

Hailan home, Jinba men's wear, GXG, Boni baoni, mark Huafei and other brands have seized the opportunities of "other economy", personalized demand and domestic goods trend, actively seek changes, take advantage of the situation, and gradually open the channel of core shopping centers in first tier cities. In the future, there will be more men's wear brands ushering in the possibility of overtaking on the curve.

According to the survey of commercial real estate headlines, more than 60% of developers are optimistic about the men's wear market, especially the subdivision of men's wear brands. They prefer leisure sports, fashion brands and new brands. In addition, 55% of developers will consider business men's wear.

The competition is inevitable when we move to the "battlefield" of shopping centers. In order to achieve advancement in the shopping center channel, men's wear brands need to be constantly alert that consumers are both the starting point and the end point. Always taking consumer demand as the core of brand operation is often the key to success.

Just like a classic principle in the field of Internet products, "when others are staring at competitors, but you are staring at users, you will naturally win."