“We mainly make imitation silk and home textile products. Orders for clothing fabrics are very rare this year. We have only done 10 million so far, but our home textile orders are particularly popular. Home textile orders exported to Japan, South Korea and other regions have increased year-on-year this year. More than 30%, sales exceeded 50 million. In this year’s textile market, the popularity of home textiles throughout the year is somewhat beyond our expectation.” A person in charge of a textile company said.
Of course, this company is not the only one. In October, there were textile companies that added wide-width home textile machines and gave up the National Day holiday to seize the time to produce home textile orders. Not only do our upstream textile companies feel this clearly, but some terminal sales data also show that this year’s home textile market is indeed good.
U.S. home furnishings sales growth
According to the monthly retail sales report released by the U.S. Department of Commerce, U.S. furniture and home furnishings retail sales reached $10.4 billion in October, compared with Growth was 5.2% in the same period last year. In addition, U.S. retail sales of furniture and household products increased by 5.3% in the three months from August to October this year, which was still slightly higher than the 5.1% increase in overall U.S. retail sales during the same period. At the same time, the performance of some specific home textile merchants can also illustrate the popularity of the home textile market.
In September, North American chain retailer Big Lots saw an astonishing sales increase in its second fiscal quarter. Among them, home textiles have increased by nearly 50% year-on-year. Broyhill brand bedding, bathroom textiles and carpets can be said to be selling like crazy. The hot sales of home textile products have led BigLots to purchase a large number of home textile products to meet market demand.
AtHome, a large home textiles retailer in North America, achieved sales of US$515 million in the second quarter, an increase of 50.5%. Net profit for the quarter was US$89.4 million, reaching an exaggerated level of growth of 760%, far exceeding net profit in the same period last year.
It can be seen that the terminal home textile market is indeed surprisingly good, so why can home textiles stand out among many textile products?
Multiple factors promote the hot sales of home textiles
Although the total sales of home furnishings and furniture in the United States have increased year-on-year in recent months, the total sales of home furnishings and furniture in the United States from January to October was 89.1 billion The U.S. dollar is still down 7.2% from January to October 2019. It seems that the U.S. home textile market is not that hot, but U.S. clothing sales in October fell by more than 12% year-on-year. Comparing the two aspects, the sales of home textile products naturally appear to be more prominent.
This year, due to the continued outbreak of the epidemic in Europe and the United States, many countries and regions have taken extraordinary measures. Various measures to close countries, close cities, and restrict travel have emerged one after another. It is precisely these policies that restrict travel that have led to a reduction in social activities such as travel, gatherings, and dinner parties. People who stay at home for a long time naturally have low requirements for clothing and appearance, which suppresses consumers’ demand for clothing consumption.
At the same time, the increase in activities at home will also lead to the consumption of home textile products such as towels, bath towels, curtains, bedding, etc. Especially under the stimulation of the epidemic, some hospitals and hotels will also increase cleaning , the frequency of changing bed sheets, quilt covers and other bedding.
In addition, many brand clothing companies have closed down this year due to reduced sales due to travel restrictions. Clothing sales are very dependent on these offline stores, and sales have also declined due to the reduction in the number of stores. sync reduction. However, most home textile products are sold in some large shopping malls. These places will not close easily. Instead, they will bring a lot of traffic as consumers rush to buy daily necessities in large numbers.
These factors have brought about an increase in sales of home textile products. Although this overall increase may not be high compared to previous years, it is much better than the sharp decline in clothing. But when the market realizes that home textile products among textile varieties are pretty good, it may not be a good thing.
There are many people following the trend, and home textiles may be oversupplied
Everyone knows that the textile market is not going well this year, especially Conventional products are basically the victims of this year’s epidemic. There are many companies that are eager to escape from the “deep pit” and get out of the state of few orders and low profits. At the beginning of the epidemic, it can be seen that a large number of companies flocked to protective equipment. Now that the home textile market stands out, it will definitely attract the attention of the market.
The popularity of home textile products has actually been very obvious since last year. According to the person in charge of a textile company, 1,000 new home textile looms of various types were added to the location of their company last year alone. The profit of one loom can reach hundreds of thousands a year. Because of this, they have recently transformed into home textiles. product plans.
While many companies are still stuck in the idea of transformation, many textile companies have replaced machinery and equipment during the epidemic this year and deployed in the home textile market. According to a person in charge of a textile company in Nantong, there are many weaving factories nearby, and they all make conventional varieties. However, the market is very poor this year, and basically every company’s orders are less than half of previous years. Although there are no orders and lack of funds, seeing the hot sales of home textile orders, many companies have recently replaced 3.4.��’s loom is used to make home textile products.
Whether it is planned or implemented, companies that are moving towards the home textile market are no longer in the market few. The reason why the home textile market has been strong this year is mainly because its overall demand has not dropped as sharply as that of clothing, not because its demand is growing. However, when demand remains unchanged or even slightly drops, the influx of a large number of textile companies will inevitably cause oversupply.
Maybe next year the home textile market will not be as good as everyone expected, and may even fall into low-price competition. The large orders and high profits in the past may disappear again.
</p
