The June sentiment index for textile and apparel professional markets showed a slight uptick, but the structural divergences behind the numbers deserve attention from the entire industry chain. The manager sentiment index rose 0.43 percentage points month-on-month to 49.78, while the merchant sentiment index increased 0.34 points to 50.07, the latter barely crossing the boom-bust line. The signal is clear: market confidence is slowly recovering, but the pace and balance of that recovery remain uncertain.
Market Operations: Foot Traffic and Store Openings Improve, Rent Stabilizes
From the management perspective, physical market indicators showed improvement in June. The logistics dispatch index and foot traffic index both rebounded by 0.64 percentage points, and the store opening rate index rose by 0.32 points. More importantly, the rent index remained in expansion territory at 50.65, with 93.55% of professional markets reporting stable rent levels. This suggests that market operators are not aggressively adjusting rental strategies amid short-term fluctuations, keeping the property side stable.
The total business volume index remained flat month-on-month, with 77.42% of managers reporting no significant change. This indicates steady overall sales volume in June, but no explosive growth. The e-commerce sales index rose to 51.61, up 0.64 points, showing that online-offline integration is contributing incremental growth for professional markets.
Merchant Side: Sales Rebound but Profit Under Pressure, Costs and Inventory Both Improve
Merchant-side data paints a more complex picture. The sales volume index rebounded to 50.14, up 1.03 points month-on-month—a positive sign. However, the average selling price index was only 49.30, down 0.22 points, with 18.88% of merchants reporting price declines. The profit index rose 0.89 points to 49.86 but remained in contraction territory.
A notable positive development was the easing of cost and inventory pressures. The comprehensive cost index stood at 50.63, down 0.19 points, indicating slightly reduced cost burdens. The inventory index rose to 50.00, up 0.21 points, suggesting faster inventory turnover. Both indices are above the boom-bust line, meaning merchants are improving operational efficiency.
E-commerce Driving: Channel Structure in Transformation
The brightest spot in the June data is e-commerce sales. The manager e-commerce sales index rose 0.64 points to 51.61, and the merchant e-commerce index rose 0.35 points to 50.49. More tellingly, 22.58% of managers reported increased e-commerce sales, up 6.45 percentage points from the prior month, while 9.79% of merchants saw growth, up 8.42 points.
This data signals that traditional textile and apparel professional markets are undergoing a substantive channel restructuring. For wholesale-oriented merchants, online channels are no longer an optional supplement but a fundamental part of stable sales. The sustained strength of e-commerce indices also explains why merchants can grow sales volume despite overall price declines.
Outlook: Divergent Expectations for July
Forward-looking indicators reveal diverging expectations between managers and merchants for July. The manager next-period sentiment index was 50.32, down 2.91 points month-on-month, and the next-period business environment index was 50.97, down 1.93 points. In contrast, the merchant next-period sentiment index was 50.84, up 0.70 points, with the next-period business environment index also at 50.84, up 0.77 points.
This divergence reflects different perceptions of market rhythm. Managers are more concerned about overall foot traffic and rent stability, wary of the approaching traditional summer low season. Merchants, buoyed by e-commerce growth and easing cost pressures, are more confident about short-term improvements. All four forward-looking indices remain above 50, indicating cautious optimism across the industry for July.