Asian Buttons has been in the manufacturing industry for more than 20 years. As a manufacturing company, we always pay close attention to the consumption data and development trends of the apparel industry. These data are of great importance to our apparel accessories business. With the opening of the three-child policy, it not only brings more market space to the children's wear market, but also greatly drives the garment accessories industry. On the contrary, in addition to the favorable market space brought by the "three-child policy", what adverse factors will affect the manufacturing industry?

1. Favorable factors

(1) The universal three-child policy is open

On October 29, 2015, the fifth plenary session of the 18th Central Committee of the Communist Party of China (CPC) adopted the CPC Central Committee's Proposal on formulating the 13th Five-Year Plan for National Economic and Social Development. The proposal calls for "full implementation of the policy of allowing a couple to have two children". Since the partial introduction of the two-child policy in 2013, the growth rate of the number of newborn babies in China has increased significantly. It is expected that with the full implementation of this policy, the growth rate of the number of newborn babies in the future will maintain or even exceed the current growth rate. With the rapid growth of the number of newborn babies, the number of 0-14 years old population will continue to grow, which will bring more market space for children's clothing market.

(2) Income growth and consumption upgrading

In 2015, the per capita disposable income of Chinese residents was 21,966 yuan, up 8.9% year on year, or 7.4% in real terms after deducting price factors. Along with the continuous increase of the per capita disposable income of the urban and rural residents, the enhanced consumption power has provided the guarantee for the prosperity of baby industry. In addition, the post-80s and 90s have entered the peak of marriage and childbearing, which further promotes the rapid growth of infant and child consumption scale. According to the data of Sina's White Paper on maternal and child consumption in 2015, the post-80s and 90s group accounts for more than 85.9% of the child-rearing group. Most of them are the only child, with superior economic growth environment, higher requirements for life quality and more emphasis on the concept of good birth and good birth. At present, almost every family is increasing the expenditure on baby food, education, toys, clothing and so on. According to the survey of China Children's Industry Research Center, 80% of the family expenditure on children accounts for 30% to 50% of the family expenditure, infant consumption has become one of the largest expenditure of family consumption, infant consumption concentrated reflects the consumption upgrade of family expenditure.

(3) children's clothing industry is still growing

Compared with men's wear, women's wear and other clothing categories, our children's wear industry started late. With the change of the consumption habits of children's clothes in Chinese families, domestic professional children's clothing enterprises generally began to develop after the mid-1990s. From the perspective of industry life cycle, Chinese children's clothing industry is still in the growth stage, has the characteristics of rapid growth of market demand, growth space. In recent years, our children's clothing consumption scale is expanding constantly, and maintains a high growth rate. In 2015, the market scale of children's wear reached 137.2 billion yuan, with a growth rate of 8%.

(4) The rise of online trading

Compared with traditional channels such as department stores and brand stores on streets or in communities, online e-commerce, as a new channel, has developed extremely fast in recent years. With the rapid development of e-commerce platforms, logistics industry and the arrival of the mobile Internet era, online shopping is becoming more and more convenient and has become one of the most important shopping channels for mother consumers. In 2015, the online consumption of mothers and infants reached 360.6 billion yuan, with a growth rate of 15.5 percent. Online consumption of maternal and child categories, children's clothing accounted for the largest proportion. In 2015, children's clothes accounted for 25.4 percent of the online shopping transactions of mothers and children, an increase of one percentage point from 24.1 percent in 2014. Therefore, with the further development of mobile Internet, the future children's wear e-commerce business development space is huge, online transactions will still maintain a high growth.

2. Unfavorable factors

(1) The rising cost of clothing manufacturing

In recent years, the government has introduced a series of major policies and measures related to employment, wage distribution, social security, protection of workers' rights and interests, such as the establishment and improvement of the minimum wage system, the implementation of the Labor Contract Law and the establishment of a sound social security system, etc. The increase of wages and the establishment of the social security system have led to the gradual increase of enterprise labor costs. In addition, in recent years, the raw material prices of clothing enterprises also showed a rising trend. The rising cost of labor and raw materials makes the manufacturing cost of clothing products rising, increasing the pressure of operation.

(2) children's wear quality problems

Consumers are very sensitive to the quality of children's wear, which will affect their consumption to a large extent. But in the sampling inspection of children's clothes, the unqualified rate is always high, children's clothes quality problem is constant. As the "Technical Specification for Textile Safety of Infants and Children" as a mandatory standard has been formally implemented since June 1, 2016, the strict audit conditions for children's wear will reduce the quality problems of children's wear to a certain extent.

In the process of the gradual expansion of the children's wear market, it has led to the further emerging development of the manufacturing industry! As a supplier of accessories in the clothing industry, the first thing we should do is to ensure the quality of clothing accessories produced, which is the basis, in order to better supply clothing enterprises, so as to reduce the unqualified rate of children's clothing.

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