Purchasing trends of textile and garment enterprises in Europe and North America in the next two years
(1) The trend of procurement diversification will continue, and India, Bangladesh and Central American countries may receive more orders.
Nearly 40% of the surveyed companies plan to adopt a diversification strategy in the next two years, purchasing from more countries and regions or cooperating with more suppliers, higher than 17% in 2021. 28% of the companies surveyed said they would not expand the scope of purchasing countries, but would cooperate with more buyers from these countries, lower than 43% in 2021. According to the survey, India, the Dominican Republic-Central American Free Trade Area member countries and Bangladesh have become the countries most interested in promoting the procurement diversification strategy of US apparel companies. 64%, 61% and 58% of the interviewed companies said they are Purchases from the above three regions will increase in the next two years.
(2) North American companies will reduce their dependence on China, but it will be difficult to decouple from China.
Most North American companies plan to reduce their dependence on China, but admit that they cannot completely “decouple” from China. 80% of the companies surveyed plan to continue to reduce purchases from China in the next two years to avoid compliance risks brought about by the “Xinjiang Act”, and 23% of the companies surveyed plan to reduce purchases from Vietnam and Sri Lanka. At the same time, the interviewed companies indicated that they could not “decouple” from China in the short to medium term, and some apparel companies regarded China as a potential sales market and planned to adopt a business strategy of “China’s localized production + sales”
Post time: Dec-06-2022