社会消费品网上零售增速趋稳，电商赢利点从流量红利回归产品服务，涌现了一批小而美精品电商。网易严选以改造传统供应链为目标，剔除品牌溢价和经销商加价环节，解决网购过程中时间成本消耗和产品质量甄别的问题。严选定位广而精的高性价比产品策略提示当下打造极致单品趋势，建议关注开润股份；严选为传统代工企业（ODM）带来订单增量，深入供应链改革升级，建议关注国内领先代工企业——健盛集团和鲁泰 A。

2016 年，纺织服装板块实现营业收入2475亿元，收入增速13%，均创近年新高。2017Q1持续改善，实现营业收入613亿元，收入增速达10%。2016年，纺织服装板块净利率超2亿元，净利润增速 8%。 2017Q1净利润增速有所下降。我们认为纺织服装板块未来有望逐渐复苏

我国服装消费逐步步入中速增长阶段，在总量增长有限的背景下结构分化占据主导地位。首先，农村居民品牌化消费将成为支撑服装消费总量增长的重要力量，在互联网拓展品牌影响半径、城镇化影响农村居民消费习惯的背景下，农村居民或将以更快的速度完成城镇居民所经历的消费升级；其次，随着消费主体由政务性消费向商务性消费转变以及品牌定价策略调整引导高端消费从境外回流，国内高端消费回暖趋势显著，此外受制于相对较低的单品牌发展瓶颈，高端品牌往往更倾向于通过多元化扩充市场份额；再次，电商平台竞争格局趋稳、流量获取成本日渐高昂，随着库存去化完成、传统品牌电商销售职责改变为新品推广，体验式消费需求回归带动线上线下全渠道格局重塑。

Manufacturers are focusing on manufacturing head protection hats which fits any user irrespective of gender, size and shape of head circumference. Few vendors,such as Honeywell, offer hard hats that are adjustable to any user with enhanced protection and comfort. It uses patented suspension technology and design, which is suitable for construction applications.The increasing use of mobile-based applications for personal protective equipment (PPE) management at construction sites is expected to contribute to the growth ofthe PPE market in construction Industry by monitoring and managing worker's compliance toward safety. It also indicates the repairing and maintenance of PPE according to the requirement. Companies such as Honeywell and 3M offer such services to its customers.Increasing demand for high-visibility clothing from construction industry is also expected to drive the market. It is estimated that high-visibility clothing will grow at a CAGR of around 7.56% by 2020.

The global smart textiles market for the military reported a revenue of $100.3 million in 2015, and it is expected to post a CAGR of 9.59% during the forecasted period. With rapid advancements in the fields of wearable technology,nanotechnology, and miniaturization of electronics, this market will likely witness an upsurge in the coming years.With growing tensions between neighboring countries and potential threats being posed by various militant groups, countries across the globe are focusing on strengthening their combat readiness. In addition to procuring new and advanced military equipment, the defense ministries are concentrating on soundly equipping their armed forces. Also, countries are trying to be equally powered in terms of soldier modernization, which leaves a scope for the textiles industries to upgrade their suits.Original equipment manufacturers (OEMs) in the Americas and Europe led the smart textiles market for the military in 2015, but, recently, the market has gradually inclined toward the developing nations in Asia-Pacific (APAC) where the cost of labors and raw material is inexpensive.