DALLAS, August 13, 2012 /PRNewswire/ --
RnRMarketResearch.com adds new market research reports on the Apparel Industry in Hong Kong, China, South Korea, Taiwan and Indonesia to its store.
The apparel industry saw good performance in 2011 for markets in Indonesia, Taiwan, South Korea and Hong Kong, China for reasons unique to each of these regions.
Explore the reports on following pages:
These apparel market research reports cover:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
After the global crisis in 2009, 2010 saw strong recovery for apparel in Indonesia (http://www.rnrmarketresearch.com/apparel-in-indonesia-market-report.html), with steady growth continuing in 2011. Consumer purchasing power continued to increase, resulting in more opportunities for premium products. In addition, the Indonesian Rupiah strengthened against the US dollar, which helped to boost performance.
Imported and local products continue to compete in a fragmented market
Indonesia has significant production of apparel products, however the majority of apparel products manufactured in Indonesia are exported overseas. Numerous local companies sell their products in the domestic market, but many players in apparel in Indonesia are non-locals. Multinational companies typically import the products for the premium brands, usually made in other Asian countries such as China. Some multinational branded products are made in Indonesia, outsourced by the foreign companies that own the brands. Low-priced Chinese products were also imported by distributors and compete with local products in the market.
With the emerging middle class phenomenon in Indonesia, consumers pay more attention to the quality of apparel products they purchase and tend to associate branded multinational products as being of superior quality to local brands. While the quality of local production is comparable to production in countries such as China and Vietnam, where most of the multinational branded products are made, it is hard for the local companies to remove this perception. Historically, a number of local companies tried to use foreign names for their brands to give the image that their products are high quality non-local brands. The perception of imported products as being of higher quality also allowed local company Mitra Adi Perkasa Tbk PT to succeed with the biggest retail value share in apparel in 2011. The company's success was mainly due to its acquiring the licence to distribute and market various multinational apparel brands in Indonesia. Despite these factors, local companies still have good presence due to the affordability of the products, especially in jeans and men's outerwear.
For Apparel in Taiwan (http://www.rnrmarketresearch.com/apparel-in-taiwan-market-report.html), Increased presence of international brands in the market
Spanish clothing retailer Zara entered Taiwan and opened its first outlet in Taipei 101, followed with the opening of its second flagship store in Taipei city in 2011. Japanese clothing retailer Uniqlo entered Taiwan the previous year and expanded with six outlets in 2011. The entry of these international fast fashion retailers signalled the increasing acceptance by Taiwan consumers of international brands with marginally higher price points compared to local apparel brands.
Competitive and fragmented environment
Taiwan's apparel remained highly fragmented as consumers in Taiwan generally lack strong loyalty for apparel brands. In addition, each apparel player has its own core product categories, and few offer a wide range of apparel products. For example, La New International Corp's key focus is on men's footwear and women's footwear, while Les Enphants Co Ltd focuses on childrenswear. In addition, there are many small local and Japanese brands such as Mayuki and Liz Lisa that have garnered strong popularity amongst female consumers, as the Taiwanese generally appreciate Japanese and Korean fashion trends.
In 2011, apparel in South Korea (http://www.rnrmarketresearch.com/apparel-in-south-korea-market-report.html) recorded a positive growth rate, thanks to the better economic climate. Consumers recovered their confidence in terms of purchasing clothing and footwear, and therefore consumption and expenditure for apparel products showed healthy growth. Generally, among the first things consumers reduce their spending on amid economic recession, are apparel and footwear. However, as the economic climate remained positive during 2011, various value-added products were introduced and attracted more South Korean consumers, which contributed to the healthy market growth.
Outdoorwear and sportswear lead the apparel market growth
In South Korea, outdoor clothing and sportswear continued to gain popularity in 2011. In particular, sportswear became versatile and functional, as most sportswear was used for varied purposes, including sports, exercise, leisure activities and even to work in some cases. Manufacturers responded to the increasing consumer demand for additional function, and therefore, functional clothing and footwear hit the apparel market in 2011. In addition, underwear designed for different body shapes with cooling or heating function enjoyed success among both male and female consumers. This functional clothing and footwear trend in sportswear helped the apparel market grow in 2011.
Competition intensifies as more brands enter apparel market in Hong Kong (http://www.rnrmarketresearch.com/apparel-in-hong-kong-china-market-report.html)
With advancements in technology, internet selling is playing a more important role in Hong Kong apparel's market. To survive amid stiff competition, more distribution channels are being utilised to reach a wider audience. In 2011, internet selling is increasingly common and growing in popularity as consumers become more familiar with this way of shopping. Furthermore, to boost sales, many brands joined "group buying" websites. In addition, as demand for apparel increases, more retail outlets and brands, such as Gap and Forever21, enter Hong Kong to cater to the demand.
Ageing population extended elderly apparel markets
With the increasing ageing population in Hong Kong, manufacturers are increasingly introducing their variant for the ageing population, focusing more on functional instead of fashionable. For example, adidas has a new apparel line which is for those aged 50-years-old, or above. It can be expected that other product categories will be affected.
Browse Other Consumer Goods Market Reports
Within the Apparel Industry and related markets, explore reports on:
- Apparel Manufacturing
- Baby Product
- Children's Apparel
- General Apparel
- Men's Apparel
- Sports Apparel
- Women's Apparel
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