Useful Insights for Fabrics Traders
Textile is one of the most prevailing industries and a field of trade in several countries across the globe. It will be beneficial to have a brief overview of some recent facts and figures pertinent to this industrial domain in the international context, before moving ahead in discussing the numerous aspects related with its business dynamics. China has been the largest producer and consumer of textile in terms of its production and consumption of cotton for the last five years and still remains the invincible leader in this domain as per the latest facts and figures. USA has the largest cotton exports while the highest imports of cotton stems out from the mainland of China. Bangladesh is amongst the developing and emerging regions which offer fruitful prospects for the textile businesses worldwide. It has made a substantial progress and strengthened its position in the international trade of textile over a period of past few years.
Now, we will elaborate the general market competitiveness of this sector which would pave the way for determining certain factors which are important in figuring out the prospects of business for the existing and potential players of this industry. For the new entrants looking to establish their business setup as fabrics importer or trader, a high amount of capital investment is required on their part initially. Attaining a sustainable competitive advantage will be comparatively tough for them as there is a high number of existing players involved in the international trade of raw textile goods and finished fabrics. Most of the existing players have targeted their unique selling proposition towards low cost and / or high quality to grasp a sizeable chunk of the market share for them. The high number of already existing spinning and weaving companies operating in the textile sector of several geographic locations is a basic reason of the market saturation and stirred up competition amongst the participants which is also the major constraint for the new entrants or small and medium entities competing in between the large conglomerates.
China has achieved a distinctive reputation in being the supplier of choice for most of the Middle Eastern, South African and Asian states for their dominating presence in the international B2B marketplace of raw materials of textile and finished fabric products. Henceforth, most of the SMEs can seek profitable outcomes by establishing a good business rapport with Chinese players to gain the advantages of cost effectiveness and efficiency in their imports, exports, and trading endeavours prevalent to their organizational aura as a rule of thumb and prudence applicable in the modern era.
