China (Pinghu) Garment City in Pinghu, a county-level city of Jiaxing, Zhejiang province. [Phito/jiaxingren.com]

China (Pinghu) Garment City, the largest and most influential professional down jacket market in the country, witnessed a surge in customer flow and turnover in 2023, as the demand for down jackets increased due to the growth of outdoor recreation and multi-scenario consumption.

According to the Zhejiang Provincial Market Supervision Bureau, the annual turnover of 2,942 commodity markets in the province reached 2.3 trillion yuan ($321.6 billion), up 7.71 percent year-on-year.

China (Pinghu) Garment City was a standout performer. In October 2023, the market witnessed an average daily customer flow of nearly 35,000 people. By November, this figure surged to 60,000 people, and, in December, it further increased to an average daily customer flow of 70,000 people.

In November 2023, with the prevalence of cold air and heightened demand for down jackets, China (Pinghu) Garment City emerged as a primary source for spot supply, averaging over 1 million pieces shipped daily. For the entire year of 2023, the market is estimated to have sold over 150 million down jackets, generating a turnover of 30 billion yuan -- an impressive 15 percent increase compared to the previous year.

The market attributes its success to its proactive preparation and innovation. It diversified its original products to meet the needs of different buyers, with more than 20,000 new original models in 2023. It also stocked up on quality and cost-effective products when upstream costs were lower during the first half of the year, enhancing its spot supply capacity.