Textile Companies And Their Adaptation to Changing Consumer Preferences

Why aren't all retailers and brands launching massive problem-solving campaigns to keep a laser-like focus on consumer trends? Many people are unaware that these fashions are more than just passing fads. The pandemic provided a once-in-a-lifetime opportunity for people to reflect on what was most important to them. They are not going to abandon their priorities now that they have been identified. Consider the current self-care craze. The wellness industry is booming, and a study found that roughly seven out of ten people expect self-care to become a societal norm by 2026. This means that pragmatic retailers and brands have a lot of room to establish credibility by providing unique, diverse single products and product lines that support self-care. Some retailers have already done so by collaborating with advanced ingredient brands designed to improve textiles.

Most textile-based brand ingredients promote mechanical changes such as sun protection or moisture wicking. Advanced smart textiles, on the other hand, rely on ingredient brands to do much more. Who would have thought that a garment could convert the body's heat into usable infrared energy, allowing the wearer to improve local circulation and cellular oxygenation? Nonetheless, it is being done. And it's capturing the attention of a consumer market that is intrigued by the prospect of receiving health and wellness benefits from clothing — the same consumers who have already sought out vitamins and supplements to improve their overall well-being. Retail and textile brands cannot meet all of their customers' needs overnight. Many aspects of their processes must be re-evaluated, and partnerships must be formed. They must also deal with the realities of a broken supply chain system. The following are some strategies that retailers and brands can use to bring new, exciting products to market faster and capture consumers' attention-:

Diversify supply chains to reduce disruptions

Retail and textile ingredient brands that rely on a single country or supplier have been hit the hardest by supply chain issues and shipping delays. Diversifying their supply chains is the solution to this tangle. To alleviate the burden of supply chain hiccups, apparel companies are turning to in-store supply stocking, nearshoring, and agile operating models, according to a report. Diversification naturally opens the door to new possibilities. It also reduces the risks associated with not being able to meet customer needs securely or adequately when intent is at its peak. Having different geographical sources provides a backup plan in case of supply chain issues. Begin developing alternate regional manufacturing options outside of your usual source, beginning with lower-risk product lines or categories and scaling up as needed. On the domestic front, competing with labour costs in other countries is difficult. Investigate manufacturers who employ less labor-intensive manufacturing methods, such as engineered knitting machines. Despite popular belief that US manufacturing is too expensive or of lower quality, there are many manufacturers who use engineered knitting machines to produce high-quality products.

Expand your marketing strategies to reach new audiences

One of the benefits of shifting consumer preferences is the opportunity to serve a new target market. Consider the evolution of the fitness industry. Integrated accessories that measure and monitor everything from oxygen levels to heart rates are in high demand today, and not just in the consumer market. Healthcare providers are increasingly interested in incorporating the use of self-care apps for telemedicine and virtual healthcare purposes. Similarly, some hospitals are experimenting with smart fabric clothing to see if it can improve patient comfort or outcomes.

Select greener suppliers who are willing to go above and beyond

Consumers are conducting research to ensure that retail and ingredient brands adhere to their stated beliefs, which includes mapping out supplier routes and determining how eco-friendly a supplier's footprint is. Today, consumers see images in the news of gas-guzzling trucks and boats crisscrossing the globe. They are requesting that brands find more environmentally conscious ways to transport products from raw materials to sale. Small, local manufacturers are preferred over larger ones for their speed, efficiency, and lower carbon footprint. Share promotional content, such as branded blog posts, social media posts, and emails, to inform your audience about your sustainability efforts. Share sustainability initiatives, certifications, or awards received by the retail brand, ingredient brand, or manufacturer with customers.Hangtags and point-of-purchase displays in physical stores can highlight sustainability certifications such as Fair Trade Certified, biodegradable, or recycled materials.

Keep an eye out for emerging consumer trends and lateral moves

What consumers are interested in today may not be interested in the same thing tomorrow. Though current trends have gained traction, they will grow and evolve over time. Consumers' lateral or vertical shifts will not surprise brands that pay attention to what's next. Consumers are willing to pay more for high-quality, sustainable products, but they prefer to spend less overall. As a result, brands must demonstrate the value of their products while also looking for ways to compete on price. You can demonstrate value to customers by anticipating their needs and anticipating potential issues. Anticipating your customers' needs and developing innovative solutions to improve your product and reduce negative environmental impacts increases customer loyalty and brand credibility.

Announce and support initiatives that promote meaningful action

Consumers expect all brands, including retailers and textile ingredient brands, to make genuine efforts to become good environmental stewards. And they are willing to call out companies that engage in deceptive sustainability marketing practises. As a result, brands should develop and publicise action plans. Apparel brand X, for example, may declare a goal of using only natural and biodegradable fabrics by 2025. As long as the goal is clear and attainable, it becomes a key differentiator and unique selling proposition.

Final thoughts

As we enter a new decade, Asia will remain the textile manufacturing powerhouse, led by China, India, Bangladesh, Vietnam, Pakistan, Sri Lanka, and Indonesia. The Textile Magazine editorial team has compiled a list of Asia's most valuable textile companies. This is only a partial list of companies; there are many more that we were unable to access. However, it clearly demonstrates Asia's dominance in textile manufacturing, which will only grow as we enter the next decade.