Domestic garment market: Fashion wins, materials throne

13/03/2017 04:03:54

Domestic brands are not big enough; Foreign brands are not localized enough to fit most of the physique and "beauty" of Vietnamese people. So the competition in the local garment market is now focused on the design and material.

Geography is still large
In recent years, domestic consumption of textiles and clothing increased by an average of 10-15% / year, reaching over 85,000 billion VND, accounting for nearly 3.5% of total retail sales in 2015.
On average, Vietnamese spend $ 42.9 per year on clothing. This number more or less? Try to consult consumption data of textile products in the world and some countries in the region.

The above data shows that the residual consumption of textiles and garments on our market has a very wide range, before reaching the regional average or the saturation threshold. Another study by VinaResearch also showed the same thing.
Diagram: The personal spending tower of the Vietnamese people (presented by Duy Quang)

 

Looking at the diagram of the personal spending tower of the Vietnamese people, buying new garments accounted for 13.9%, ranking third in the personal expenditure of the Vietnamese.
While a Wazir Advisors pyramid scheme on average per capita expenditure in the world shows that fashion shopping is second with 17.8% and will rise to first with 29. , 5% by 2025.
In our country, the size and speed of garment shopping takes another 5-7 years to reach the regional average, but it is clearly visible towards the general trend of the world, In terms of total personal consumption, the proportion of food expenditure will decrease, giving way to the rise of garments.

 

 

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Currency Buy Sell
USD 22.700 22.770
EUR 27.774 28.107
GBP 31.416 31.920
HKD 2.865 2.928
JPY 208 213
CHF 24.019 24.502
AUD 17.598 17.862
CAD 17.613 18.003
SGD 16.978 17.285
THB 708 738
Partners - Customers
  • Snickers
  • Tesco
  • Primark
  • Barco