Fur Market Insight: Joys and Concerns Behind the Peak Season
Dear readers, as winter sets in, the fur market is entering its crucial sales peak season. Recently, we’ve conducted in-depth visits to the market, including field trips to fur malls and online customer surveys, to bring you the latest market trends and analysis.
Sales Recovery: Offline Surges, Online Booms
As temperatures drop, the fur market has become noticeably more active. In offline malls, crowds are bustling through various fur counters, with customers continuously trying on and selecting products. Foot traffic has increased significantly compared to before, and many stores are seeing steady growth in sales. Meanwhile, online sales platforms are also experiencing a busy period, with merchants reporting a sharp increase in order volume, and some are even facing stock shortages. Overall, compared to last week, both online and offline sales have shown noticeable improvement, suggesting the market is moving in a positive direction.
Hidden Concerns: Declining Sales, Caution Prevails
However, beneath the seemingly thriving market, there are underlying issues that cannot be ignored. Despite the current favorable sales trends, the overall sales volume is still down by 20% to 50% compared to the same period last year. The reasons behind this are multifaceted, with weather conditions and the timing of the Chinese New Year being significant factors. This year, the cold weather arrived later, delaying the start of the fur sales peak season, and with the earlier-than-usual New Year holiday, the sales window has been compressed, causing consumers to slow their purchasing pace. As a result, market demand has not been fully released.
In this context, retailers are being cautious about restocking to avoid excess inventory. They are no longer making bold replenishment decisions as in previous years, but are opting for more conservative operations to ensure flexible capital turnover and minimize potential market risks.
Manufacturer Trends: Set Production, Watchful Waiting
For fur garment manufacturers, they are also closely monitoring the market. Recently, we conducted in-depth surveys with fur producers in Yuyao, and through inquiries with 12 dry cleaning factories, we found that around 500,000 to 550,000 fur garments were produced in the Yuyao region in 2024. In terms of raw materials, there is a relatively low stock of female pelts, while male pelts are more abundant, which will influence the development and production of future products.
Given the current market sales situation and the limited sales window left, manufacturers are inclined to gradually wind down production after the New Year if no significant sales boost occurs in the national fur market. This cautious approach will allow them to better manage their resources and navigate through this challenging sales season.
Macro View: Consumer Fatigue Amid Economic Pressure
It’s important to mention that the overall economic environment is under significant pressure, which has impacted consumer purchasing power and willingness. In an unstable economic climate, consumers are becoming more cautious about non-essential spending, and fur, as a relatively high-end fashion item, is being affected more heavily. Consumers are focusing more on value for money, and their sensitivity to price has increased. As a result, fur retailers are being forced to reassess their product positioning and pricing strategies to adapt to the changing market dynamics.
Blessings and Outlook: Moving Toward a New Beginning
Although the fur market faces numerous challenges in this peak season, industry players are actively responding and seeking new development opportunities. Whether by optimizing product designs, enhancing quality, or expanding online sales channels and boosting marketing efforts, all parties are working hard to inject new vitality into the fur market’s revival and development.
As we approach the New Year, we sincerely wish everyone more opportunities and challenges in 2024. May the new year bring success, warmth, and prosperity to all. We also hope that the fur market will usher in a new spring, overcoming the winter and embracing the warmth of the sun.
Happy New Year! Wishing everyone health, happiness, and a thriving career in the coming year!
We will continue to monitor market trends and provide timely, accurate updates. Thank you for your continued support and attention, and once again, Happy New Year!
