As we all know, the current economic situation is challenging because the stock market is stagnant, the housing market is sluggish, and clothing, as a basic necessity of life, faces internal and external pressures. Consumers seem to be less focused on apparel. They prefer to keep their money in the bank rather than attending to their wardrobes to enhance their appearance.

The reasons behind this shift are as follows. First, the times are changing, and most consumers adopt a rational approach to clothing purchases. Young consumers now focus more on style, color, and price than brand. While brand loyalty still exists, its influence is diminishing, particularly among those born in the 2000s who prioritize comfort, fit, and affordability over textile material. Second, income is falling. Many small and medium enterprises are struggling, and some middle-class families are experiencing reduced wages and lower investment returns. In this challenging period, the wool textile industry must focus on middle-class consumption trends to actively adjust the product structure, flexibly change the sales model, timely increase the B2C supply capacity, and reasonably reduce the price strategies to navigate these changes and seize new opportunities.

You might have noticed that traditional supermarkets like Walmart and Carrefour are gradually being replaced by membership-based stores such as Sam’s Club, Costco, and Freshippo in many cities. These stores require a membership card and have relatively high fees, but they attract numerous consumers. The reason can be attributed to two main reasons. The first reason is consumption upgrading. Traditional supermarkets offer similar products and services, leading to consumer fatigue over time. However, membership stores provide product samples and a wider range of cost-effective products. The most satisfying thing is that membership stores recommend cooking tips and meal suggestions when consumers buy the ingredients. In membership stores, we’re not just shopping but also experiencing a new way of life. Second, continuous service innovation is a key factor. Although membership stores charge fees, frequent consumption will reward you with reward points, free car washes, and free home delivery service.

As wool people, we might consider adopting the membership stores’ business mode. By continually innovating our sales strategies and developing high-quality, cost-effective products, we can rekindle consumer interest. In this new era, consumption is not downgraded but turned into a new track, and we must adapt to meet the growing demand for high-quality living.

（Jiang Ming）