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 23.015 23.085
EUR 26.645 26.963
GBP 29.648 30.123
HKD 2.895 2.959
JPY 201 207
CHF 22.765 23.222
AUD 16.790 17.076
CAD 17.153 17.498
SGD 16.653 16.954
THB 676 704
Partners - Customers
  • Snickers
  • Tesco
  • Primark
  • Barco