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Fast Fashion - China - June 2016

“After years of rapid growth, the fast fashion market is slowing down. Meanwhile, shoppers are demanding better quality products and customer service. They are also demanding more individual styles to suit diversifying tastes. Competition is intensifying, but online retail is providing new ways to reach more consumers in regions that store chains have yet to reach. There is also an opportunity to develop sub-brands in response to growing consumer diversity of tastes, along with more customisable clothing and accessories so consumers can create a more individual style. Yet, there is also the challenge that fast fashion brands will need to become more responsive to consumers’ needs, and to engage with them more successfully, both in-store and online, to raise customer loyalty.”
– Matthew Crabbe, Director of Research, Asia-Pacific

This report discusses the following key topics:

  • Young and Funky versus Conservatives
  • Embracing online
  • Individualism

This Report covers how the fast fashion retail market has grown rapidly, and is seeing increasing competition drive greater innovation to capture customer interest.

It investigates how consumers are becoming more demanding of product and service quality, as well as more individualistic in their tastes, and how retailers are responding to this shift in innovative new ways.

It also looks at how important integration of online and offline channels has become in gaining consumer interest, offering value for money and improving customer experience.

The Report also looks at different consumer groups, and how they buy different products and seek out different styles of clothes to make their own look.

The Report also looks at what key factors motivate shoppers when they are looking for products, and what the key criteria are for their choice of fast fashion brand. Finally, the Report looks at consumer attitudes towards fast fashion, how they feel they are served well, and where retailers need to work harder to gain their loyalty.

For the purposes of this Report, Mintel has used the following definitions:

  • Fast fashion is a term used within the fashion retailing industry to define a specific group of fashion retailers that produce designs that reach stores quickly from initial seasonal catwalk shows so as to keep up with current fashion trends. This retail model emphasises optimising the supply chain so that new designs are manufactured and distributed quickly and inexpensively to provide a broad consumer base with new designs at affordable prices.
  • Retailers in this market typically sell through own-brand stores (including large flagship stores), in-store concessions in department stores and online, both through own-brand online stores and leading online shopping portals, such as Tmall, jd.com and Vipshop.
  • This kind of retail model is exemplified in China by brands such as Uniqlo, H&M, Zara, Metersbonwe, Mango, C&A, Abercrombie & Fitch and The Gap.

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Table of contents

  1. Overview

    • What you need to know
      • Products/themes covered in this Report
      • Executive Summary

          • The market
            • Figure 1: China – Fast fashion retailing total market value, 2011-21
          • Companies and brands
            • Figure 2: China – Fast fashion top 10 retailers’ share of market value, 2014 and 2015
          • The consumer
            • Choice of style
              • Figure 3: Consumer choice of words to describe clothes they like to wear, April 2016
            • Types of clothes bought
              • Figure 4: Types of clothes bought by shoppers from fast fashion retailers in the past 12 months, April 2016
            • Shopping preferences
              • Figure 5: Consumer shopping preferences when buying fast fashion, April 2016
            • Shopping motives
              • Figure 6: Key consumer motives for fast fashion shopping, April 2016
            • Brand choice
              • Figure 7: Factors influencing consumer brand choice of fast fashion retailer, April 2016
            • Consumer attitudes
              • Figure 8: Consumer attitudes towards fast fashion shopping, April 2016
            • What we think
            • Issues and Insights

              • Young and Funky versus Conservatives
                • The facts
                  • The implications
                    • Embracing online
                      • The facts
                        • The implications
                          • Individualism
                            • The facts
                              • The implications
                              • The Market – What You Need to Know

                                • Fast fashion in the past; slower fashion in the future
                                  • Still significant room for growth
                                  • Market Size and Forecast

                                    • Introduction
                                      • Figure 9: China – Fast fashion retailing total market value, 2011-21
                                  • Market Drivers

                                    • Trading up
                                        • Figure 10: Percentage of rural households, by net household income level, and percentage change, 2005-12
                                      • Spread into lower tier cities
                                        • Figure 11: Types of clothes bought by shoppers from fast fashion retailers in the past 12 months, by city, April 2016
                                        • Figure 12: Consumer choice of words to describe clothes they like to wear, by ostentatious words of expression, by city, April 2016
                                        • Figure 13: Consumer choice of words to describe clothes they like to wear, by conservative words of expression, by city, April 2016
                                      • Online retail
                                        • Figure 14: China – Online retail sales, by broad product category, 2011-15
                                        • Figure 15: China – Online fashion retail sales value compared with total fashion retail, 2011-15
                                    • Key Players – What You Need to Know

                                      • Competition leading to greater consolidation
                                        • Diversity and individuality
                                        • Market Share

                                          • Leading company share by value
                                            • Figure 16: China – Fast fashion top 10 retailers’ share of market value, 2014 and 2015
                                          • Leading retailers’ network footprint
                                            • Figure 17: China – Selected leading fast fashion retailers’ number of outlets and average sales per store, 2014 and 2015
                                        • Competitive Strategies

                                          • Mix and match “formasual”
                                              • Figure 18: Heilan Home – Operating income and gross profit margin, 2014 & H1 2015
                                            • Fixating on youth
                                              • Normcore
                                                • Geek chic
                                                  • The “his and her” look
                                                    • Loyalty programmes and mobile payments
                                                    • The Consumer – What You Need to Know

                                                      • Choosing a style
                                                        • What people wear
                                                          • The online/offline split
                                                            • Quality and style are inseparable
                                                              • Individuality, individuality, individuality!
                                                                • Rising style-consciousness
                                                                • Choice of Style

                                                                  • The rise of the individual
                                                                    • Figure 19: Consumer choice of words to describe clothes they like to wear, April 2016
                                                                    • Figure 20: Types of menswear consumers prefer to wear, January 2016
                                                                  • Young and Funky
                                                                    • Figure 21: Consumer choice of words to describe clothes they like to wear, by “Young and Funky” consumers, April 2016
                                                                    • Figure 22: Types of clothes bought by shoppers from fast fashion retailers in the past 12 months, by Young and Funky consumers, April 2016
                                                                    • Figure 23: Consumer attitudes towards fast fashion shopping, by key consumer groups, April 2016
                                                                    • Figure 24: Types of clothes bought by shoppers from fast fashion retailers in the past 12 months, by Young and Funky consumers, April 2016
                                                                • Types of Clothes Bought

                                                                  • What people wear
                                                                    • Figure 25: Types of clothes bought by shoppers from fast fashion retailers in the past 12 months, April 2016
                                                                    • Figure 26: Types of menswear products bought by consumers, January 2016 & June 2014
                                                                    • Figure 27: Types of clothes bought by shoppers from fast fashion retailers in the past 12 months, by gender and age, April 2016
                                                                    • Figure 28: Types of clothes bought by shoppers from fast fashion retailers in the past 12 months, by factors influencing fast fashion brand shopping choice, April 2016
                                                                • Shopping Preferences

                                                                  • Quality, style, service and trust
                                                                    • Figure 29: Consumer shopping preferences when buying fast fashion, April 2016
                                                                  • Quality
                                                                    • Figure 30: Consumer shopping quality preferences when buying fast fashion, by key consumer motives for fast fashion shopping, April 2016
                                                                  • Service
                                                                    • Figure 31: Consumer shopping service preferences when buying fast fashion, by key consumer motives for fast fashion shopping, April 2016
                                                                  • Style
                                                                    • Figure 32: Consumer shopping style preferences (A) when buying fast fashion, by key consumer motives for fast fashion shopping, April 2016
                                                                    • Figure 33: Consumer shopping style preferences (B) when buying fast fashion, by key consumer motives for fast fashion shopping, April 2016
                                                                    • Figure 34: Consumer shopping style preferences (C) when buying fast fashion, by key consumer motives for fast fashion shopping, April 2016
                                                                  • Trust
                                                                      • Figure 35: Consumer shopping trust preferences (A) when buying fast fashion, by key consumer motives for fast fashion shopping, April 2016
                                                                      • Figure 36: Consumer shopping trust preferences (B) when buying fast fashion, by key consumer motives for fast fashion shopping, April 2016
                                                                      • Figure 37: Consumer shopping trust preferences (C) when buying fast fashion, by key consumer motives for fast fashion shopping, April 2016
                                                                  • Shopping Motives

                                                                    • Giving shoppers time and space to shop
                                                                      • Figure 38: Key consumer motives for fast fashion shopping, April 2016
                                                                      • Figure 39: Key consumer motives for menswear shopping, January 2016
                                                                    • Men shop for quality, women shop for style
                                                                        • Figure 40: Key consumer motives for fast fashion shopping, by gender and age, April 2016
                                                                      • Following the trends
                                                                        • Figure 41: Key consumer motives for fast fashion shopping, by factors influencing consumer brand choice of fast fashion retailer (A), April 2016
                                                                      • More personal shopping motives
                                                                        • Figure 42: Key consumer motives for fast fashion shopping, by factors influencing consumer brand choice of fast fashion retailer (B), April 2016
                                                                    • Brand Choice

                                                                      • The rise of the individual
                                                                        • Figure 43: Factors influencing consumer brand choice of fast fashion retailer, April 2016
                                                                      • Individuality across all ages
                                                                        • Figure 44: Factors influencing consumer brand choice of fast fashion retailer, by gender and age, April 2016
                                                                      • Price sensitivity still lingers
                                                                        • Figure 45: Factors influencing consumer brand choice of fast fashion retailer, by positive consumer attitudes towards fast fashion shopping (A), April 2016
                                                                      • Individualism on a budget
                                                                        • Figure 46: Factors influencing consumer brand choice of fast fashion retailer, by positive consumer attitudes towards fast fashion shopping (B), April 2016
                                                                    • Consumer Attitudes

                                                                      • The urge to “dress to express”
                                                                        • Figure 47: Consumer attitudes towards fast fashion shopping, April 2016
                                                                      • Attitudes by demographic
                                                                          • Figure 48: Consumer attitudes towards fast fashion shopping, by gender and age, April 2016
                                                                        • Attitudes of the Young and Funky consumers
                                                                            • Figure 49: Consumer attitudes towards fast fashion shopping, by consumer choice of words to describe clothes they like to wear, April 2016
                                                                        • Appendix – Market Size and Forecast

                                                                            • Figure 50: China – Fast fashion total market value, 2011-21
                                                                        • Appendix – Methodology and Definitions

                                                                          • Methodology
                                                                            • Fan chart forecast
                                                                              • Abbreviations

                                                                              Companies Covered

                                                                              To learn more about the companies covered in this report please contact us.

                                                                              Fast Fashion - China - June 2016

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