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 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Larry L Kinn
Suominen Corporation

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search