Study on Precision Marketing Strategy of Foreign Trade Corporation
These authors contributed equally.
- 10.2991/assehr.k.211209.331How to use a DOI?
- Foreign trade corporation; garment industry; precision marketing; customization; the gross amount
China’s garment enterprises have continued to grow in the past fifteen years and contributed significantly to the economy. However, with the development of the garment industry, many problems appeared. First, although the minimum wage has increased in recent years, it is more difficult for garment corporations to recruit new employees. Moreover, it costs more to deliver products from China to Europe than from Africa to Europe. Africa has become more competitive than China because of low labour costs and shipping costs. The problems that the garment industry faces and the solutions to these problems will be discussed in this paper. We used the literature research method, case study and comparative analysis method to research and analyse in this paper. This paper takes a typical foreign trade garment corporation as an example to analyse the current situation of China’s garment industry. To find out the key influencers of the gross amount, a multiple regression model is employed. Generally, quantity is the key influencer of the gross amount in the past five years. Delivery time affects the gross amount in the year 2019. The variety of fabrics and suppliers are diminishing as time goes by. More and more young people are reluctant to work in the factory. A great number of garment suppliers closed because they could not bear the higher and higher costs. Many existed Chinese suppliers are struggling in the garment industry. Meanwhile, many garment suppliers in Africa have become more competitive in labour and freight costs and haulage time. In the discussion part, we put forward three strategies - precise customization, break up the whole into parts & hire temporary workers, and modern logistics concept & reasonable transportation choice. This paper aims to analyse the dilemma that the garment industry in China is in. More importantly, explore the gateway for the struggling foreign trade companies.
- © 2021 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Kunyang Li AU - Jiahan Meng AU - Yuxiang Wang AU - Guanyi Xu PY - 2021 DA - 2021/12/15 TI - Study on Precision Marketing Strategy of Foreign Trade Corporation BT - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) PB - Atlantis Press SP - 2026 EP - 2032 SN - 2352-5428 UR - https://doi.org/10.2991/assehr.k.211209.331 DO - 10.2991/assehr.k.211209.331 ID - Li2021 ER -