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How should textile testing instrument companies respond to the strategies of both imported and domestic products?
Publication Time:
Oct 21,2023
Textile testing instruments have been developed in China for nearly 20 years, from initially being completely reliant on imports to now mostly domestically produced and successfully exported. It can be said that China's textile testing instruments have made rapid progress, traversing nearly a century of Western development in just over a decade. However, it is undeniable that China's textile testing instruments still have many shortcomings in terms of technological innovation, and research and development investment and technological levels need to be improved.
Textile testing instruments have been developed in China for nearly 20 years, from initially relying entirely on imports to now having mostly domestic products and successfully achieving some exports. It can be said that China's textile testing instruments have made rapid progress, covering nearly a century of Western development in just over a decade. However, it is undeniable that China's textile testing instruments still have many shortcomings in terms of technological innovation, and research and development investment and technological level need to be improved.
In terms of the current market structure of domestic textile testing instruments, domestic products have basically occupied the low-to-mid-range market share. However, in terms of high-end technology and advancement, domestic textile testing instruments cannot compare with imported instruments, which is a pain point for many textile testing instrument companies. Due to the growing market demand in China for high-end and advanced textile testing instruments, how can numerous textile instrument companies develop the high-end market? Currently, the strategy is mainly to act as agents for imported brands or purchase imported brands for resale. Due to restrictions on the supply of goods, profits are greatly reduced. Many domestic textile instrument manufacturers who act as agents for imported brands of textile testing instruments essentially earn from after-sales maintenance fees. If they encounter unstable products, they may even lose money.
So, in the harsh winter of 2016 for the domestic textile testing instrument industry, how should numerous textile instrument companies cope with market shrinkage and revenue pressure? Standard Group believes that they should seize the market with both hands. Currently, the domestic low-to-mid-range textile instrument market is fiercely competitive, having entered a price war. However, due to the large market and technology, there is still considerable room for development. Secondly, the exclusive agency of imported high-end textile testing instruments is also an important strategy.
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