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Floods cause Thailand's apparel sales to decline
26 Nov '11
1 min read
The recent floods in Thailand have generally dampened the spirits of shoppers and sales of apparels in big retail stores and malls have declined by 20-30 percent during the past two months.
This has caused a loss of up to 7 billion baht for the country's apparel sector in terms of lost opportunity of sales, according to industry experts.
The weak market conditions have forced few retailers to change their offering to more low-priced garments to match the reduced purchasing power of the consumers. A few brands have cut their production and postponed the launch of their new range.
Besides, some retailers are even planning to stop all entertainment marketing activities for their collections and cut-down on the budget for promotions till year-end.
Industry experts estimate the sales of apparels, including designer wear, to decline by 30 percent this year and foresee a revival only by the middle of the next year.
This has caused a loss of up to 7 billion baht for the country's apparel sector in terms of lost opportunity of sales, according to industry experts.
The weak market conditions have forced few retailers to change their offering to more low-priced garments to match the reduced purchasing power of the consumers. A few brands have cut their production and postponed the launch of their new range.
Besides, some retailers are even planning to stop all entertainment marketing activities for their collections and cut-down on the budget for promotions till year-end.
Industry experts estimate the sales of apparels, including designer wear, to decline by 30 percent this year and foresee a revival only by the middle of the next year.
Fibre2fashion News Desk - India
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Cheran Machines India Private Limited
Sirinada Preechawitayakul
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