Home / Knowledge / News / Apparel/Garments / Garment retailers take desperate steps to lure consumers
Garment retailers take desperate steps to lure consumers
17
Nov '08
Impact of global recession is clearly apparent in Vietnam, as not only the manufacturers and exporters are suffering but also the retailers.

It has been noted that with slowdown in economy, even the leading retailers in the US are struggling to make profits. It seems that this trend has now spread to other countries as well, including Vietnam.

Sources inform that garment and fashion retailers are coming up with schemes and trying to attract consumers. Many are offering discounts as high as 30 to 70 percent.

However, even these desperate measures have failed to lure customers.

Insiders reveal that shirts from renowned local brands are now ranging between just VND70,000 and VND120,000 or $4.20 and $7.20.

Thus, retailers are facing the problem of high inventories, even as new designs are being broght in.

Official data shows that not only have the garment companies not met their growth target of 20-25 percent for this year, many have even registered a loss of around 20 percent.

Experts explain that there is lack of liquidity among the consumers and the prices have been rising continuously, thus, they are now concentrating on purchasing essentials.

Traders are hoping that with the approaching holiday season, the sale would pick up. Nevertheless, anticipating weaker buyer enthusiasm, the companies have lowered production and retailers are placing smaller orders.

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search