- Issue Time
The competition in the industry has become more and more fierce, and the profit margin is constantly shrinking due to the price of the hook and loop industry.
With the development of society, the hook and loop industry has shown strong vitality, and the hook & loop accessories industry is also booming. Many people have taken a fancy to the development potential of this field. Production companies have sprung up, and there is competition in the market. The competition in the industry has become more and more fierce, and the profit margin is constantly shrinking due to the price of the hook and loop industry. Various companies have started the price war. As time goes on, the price of the hook and loop has become more transparent. This is a serious test for any hook and loop company. Many customers have gradually mastered the skills when making purchases, and they are familiar with the price of the products. Regardless of whether the customer is right or wrong, the manufacturers have to believe it, but this small profit hook and loop product, the only profit of a few cents is squeezed out, how the hook and loop company survive when this happened?
Survive in the cracks and seek development in the competition. It is always the same as nature that the survival of the fittest. It’s not going to work for some companies with absolute low profits keep lowering the profit. The so-called break before stand, if all enterprises are lowering the price, the last thing they get is extinction. The survival needs to be broken first. Therefore, it is not a bad idea to give up the low-end route. You can try the high-end route. The quality of the products and the improvement of all aspects of the materials have high requirements, using the highest quality technology and materials to provide hook and loop for high-end companies.