Language
After continuous development, there are a large number of umbrella manufacturers in China, and the market is becoming increasingly saturated. Umbrellas are consumer-resistant products, and the frequency of repeated purchases by consumers is low. From 2014 to 2019, the average annual compound growth rate of China's umbrella industry output was -2.1%, and the average annual compound growth rate of sales volume was -5.0%, both showing a downward trend. In 2014-2017, the average annual compound growth rate of the Chinese umbrella market was -3.2%. However, with the upgrading of consumption, the Chinese market's demand for high-quality umbrellas increased. With the decline in production and sales, the Chinese umbrella market showed an increase in 2018 , The growth rate is 7.0%. In 2019, the size of China's umbrella market was 7.32 billion yuan, a year-on-year increase of 1.8%.
The umbrella industry in China is huge and there are many companies. However, due to the low barriers to entry in the industry, the number of companies with high national reputation is small, most companies have low brand awareness, do not have independent innovation capabilities, serious imitation and plagiarism, and product quality is uneven, mainly concentrated at the low end Market competition has led to increasingly fierce competition in the low-end umbrella market in China, while the lack of competitiveness in the high-end umbrella market gives foreign brands more room for development and the overall profitability of the industry is weak.
