Abstract
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- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive
environment
Executive summary
Clothing and footwear in Malaysia to only slight increase due to recession
The recent economic recession which is affecting countries globally has also
impacted Malaysia in a way where consumers are now getting thriftier in their
daily spending and consumption. In view of this, the overall clothing and
footwear industry in Malaysia is expected to show a fall in performance
overall with only a slight increase in certain categories apparel which is
deemed a necessity. As for other categories of clothing, minimal movement or a
slight decrease was recorded due to consumers staying away from the shops.
Cheaper imported raw materials and labour from China and Vietnam
The fashion sector has been hit by cheap imported raw materials and labour
power sourced from other Asian countries such as China and Vietnam. Hence,
there has been a natural and enthusiastic move by local importers and
manufacturers to source such materials from other countries and have even gone
so far as to set up manufacturing facilities in these countries.
Demand for apparel increases due to more fashion and retail awareness in Malaysia
Demand for more and better fashion world in Malaysia has increased due to a
heightened awareness of what is fashionable in the wider world and heightened
retail awareness. There were numerous fashion shows, events and competitions
being held in Malaysia including the annual Malaysian Jewellery Fair.Consumers
are now becoming more aware of the latest fashions and the latest brands in
the fashion, apparel and footwear in the sector partly due to globalisation
via the media and internet access. This is a good opportunity for retailers,
both local and international brands, to invest in the fashion and apparel
sector in Malaysia.
Consumers spending less on branded fashion apparel and accessories due to the worsening global economic recession
Amid the worsening global economic recession, consumers in Malaysia are
beginning to feel some impact in the apparel and textile scene with consumers
spending less on branded fashion apparels and accessories due to less
disposable income being available. Consumers are setting back their spending
power towards branded fashions as they feel that they are not considered
necessities.
Footwear and clothing to grow and remain positive between 2009-2013
The forecast period from 2009-2013 will see positive growth in terms of
overall sales and demands from consumers but this is forecasted to be at a
slower rate due to the current economic situation which is impacting globally.
This will be supported by increasing promotional activity, fashion trends and
sales from retail outlets and shopping centres. The trend is expected to
continue so long there is demand and awareness being introduced by major
players towards consumers.
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