qiyaexpo - Tumblr blog

qiyaexpo · 1 year ago

Text

Vietnam: Rising star in the luggage industry

The bags and luggage market in Vietnam presents a promising opportunity for Chinese companies seeking to expand their operations and explore new markets. Vietnam has emerged as a manufacturing hub, attracting foreign investments and gaining recognition for its skilled workforce and competitive production costs.

With its strategic location and favorable trade agreements, Vietnam serves as a gateway to both regional and international markets. Chinese companies can leverage this advantage to establish a strong presence and access a diverse customer base. Vietnam's growing middle class, increasing disposable income, and changing consumer preferences create a favorable environment for the bags and luggage industry.

In 2021, the Vietnamese handbag market increased by 70% to 1.74 billion for the first time since 2018. The pace of growth appeared the most rapid in 2013 with an increase of 74% against the previous year. The most prominent rate of growth was recorded in 2013 when exports increased by 200% .Imports also showed prominent growth. The pace of growth appeared the most rapid in 2020 when imports increased by 295% against the previous year. Imports by Country In 2021, China constituted the largest handbag supplier to Vietnam, with a 72% share of total imports. Moreover, handbag imports from China exceeded the figures recorded by the second-largest supplier, Italy by fivefold. In value terms, China constituted the largest supplier of handbags to Vietnam, comprising 56% of total imports.

Moreover, Vietnamese consumers value high-quality products that offer functionality and style. Chinese companies can meet these demands by leveraging their expertise in manufacturing and design. By offering a wide range of bags and luggage that cater to different needs, from travel to fashion, Chinese companies can capture the attention and loyalty of Vietnamese consumers.

Bags market in Hanoi

Furthermore, the rise of e-commerce and online shopping in Vietnam provides a significant avenue for growth. Chinese companies can leverage their digital capabilities and established e-commerce platforms to reach Vietnamese consumers directly. By utilizing effective online marketing strategies and partnerships with local distributors or retailers, Chinese companies can tap into the growing demand for bags and luggage in the Vietnamese market.

Additionally, the tourism industry in Vietnam is booming, attracting millions of visitors each year. This presents an excellent opportunity for Chinese companies to provide travel-centric bags and luggage solutions. Vietnam's diverse landscapes, cultural attractions, and increasing business travel create a demand for durable and stylish bags that cater to different travel needs. Chinese companies can position themselves as reliable and innovative providers of travel accessories, capturing a significant share of the market.

What’s more , non-luxury brands dominating the Vietnamese bags and luggage market, capturing over 80% of the market share, which can be attributed to factors such as price sensitivity, functionality, local manufacturing and distribution networks, cultural preferences, and changing consumer behavior. These brands have effectively tapped into the needs and preferences of the majority of Vietnamese consumers, allowing them to capture a significant market share.

Furthermore, collaboration with local manufacturers and suppliers in Vietnam can offer Chinese companies cost advantages and access to local expertise. By establishing partnerships or setting up production facilities in Vietnam, Chinese companies can benefit from streamlined supply chains, reduced production costs, and a better understanding of the local market dynamics.

In conclusion, the bags and luggage market in Vietnam holds immense potential for Chinese companies. With Vietnam's growing economy, increasing consumer purchasing power, and expanding tourism industry, there is a strong demand for high-quality bags and luggage. By leveraging their manufacturing capabilities, design expertise, digital presence, and strategic partnerships, Chinese companies can successfully penetrate the Vietnamese market and seize the opportunities it offers.

#painting #bags

0 notes

qiyaexpo · 1 year ago

Text

Do Chinese fashion products still have an advantage in Vietnam? Poke this article to find out!

With Vietnam gradually integrating into economic globalization, the textile industry is becoming more and more mature, and more foreign capital has flooded into Vietnam

Many Chinese companies in Vietnam or those who want to enter the Vietnamese market have expressed concern: are Chinese-made fashion products still competitive in Vietnam?

The answer is a resounding “YES”

According to Vietnamese customs statistics, in the first seven months of this year, the trade exports to China reached us $30.8 billion US dollars, up 2.4% compared with the same period last year. China is one of the few countries in Vietnam to achieve positive export growth. China's exports to Vietnam reached $66.25 billion in January-June this year. It can be said that the economic and trade ties between China and Vietnam are getting closer. Looking at the textile data, in the first half of this year, China imported 1.85 billion of Vietnamese textile materials and products, and exported 2.54 billion of knitting and hook fabrics. According to the bilateral import and export data, the textile trade is very intensive, while China is still a very large textile export market in Vietnam, and its raw material imports are also very dependent on China.

"Made in Vietnam" is coming soon?

In the context of the epidemic and the trade war, Vietnam has become the first choice for some enterprises to implement the "China plus one" strategy. Some Western media also have high hopes for Vietnam, saying that Southeast Asian countries, led by Vietnam, very much like China in the 1990s, will be a strong contender for the next world factory after China. But is that really so? From the perspective of the labor-intensive garment industry, in the fourth quarter of last year, the turnover rate of Vietnam's textile and garment market plummeted and the number of orders plummeted. As a result, many Vietnamese garment enterprises could not operate normally: workers were stopped or working hours were shortened, and garment exports were facing difficulties.

"Being Made in Vietnam is inseparable from being made in China"

As Asia's two largest labor-intensive industry exporters, although the two countries compete, but China's size and years of experience in the fashion industry are difficult for Vietnam to match. Many times, "Made in Vietnam" imports fabric from China, and the raw materials for footwear are re-exported to China, the United States and other countries. In recent years, Vietnam's impressive foreign trade performance is largely due to the trade with the United States, especially the growth of Vietnam's trade with the United States stems from the transfer of China's trade with the United States. Overall, in the background of the trade war between China and the United States, Vietnam by a lot of industry transfer of dividend, but Chinese fashion companies don't worry too much, subject to its small scale, design and technology is still not mature, Vietnam made in the future for a long time is still cannot meet the Vietnamese people's growing material and cultural needs, made in China demand is still very big.

"Chinese fashion companies are still profitable in Vietnam"

Of all the countries in Asia, Africa and Latin America, Vietnam is clearly the most suitable target market for Chinese fashion companies,

It is not only a member of the RCEP, but also a country along the Belt and Road route. The two countries are both socialist countries, linked by mountains and rivers, and have a large population. In the first half of this year, China is one of the few countries to maintain export growth, and Vietnam also introduced tax and land incentives for the garment industry, according to the above data. These influencing factors are undoubtedly good news for Chinese fashion enterprises. Therefore, Chinese fashion companies still have full market prospects in this "small China at the end of the last century".

2023 Asian fashion (Vietnam) exhibition is such arises at the historic moment, the exhibition will be on December 20-22 in ho chi Minh city, Vietnam led the Chinese fashion companies held a grand fashion exhibition, the exhibitors will have the Vietnamese market to explore the field trade experience, more intuitive feeling Vietnam the fashion industry emerging markets.

#fashion #vietnam

0 notes

qiyaexpo · 1 year ago

Text

What can clothing trade companies do to promote oversea market?

In the global business environment, the development of overseas markets is very important for foreign traders. With the continuous development of technology and the change of global business trend, we must constantly update the customer strategy to adapt to this competitive foreign trade market, so what are the effective channels to contact with overseas buyers, today this article will take you to master some strategies of overseas customers!

First of all, Online B2B website, if you are a beginner, register these websites, release products, stand in the buyer's point of view, they want your product to have what advantages, whether the order volume is appropriate for their requirements. These platforms connect buyers and suppliers from around the world, giving you the opportunity to present your products and connect with potential foreign customers. Common sites are Made-in-China, EC21, Ecplaza, TradeKey, Importers, etc. No matter how good the platform is, if it is futile to do no content seriously. We must carefully package your clothing products, especially in the fashion field, to show your design concept, application scene, and catch the attention of buyers!

Also, Find agents and distributors: work with local agents and distributors who have extensive experience and customer network in overseas markets. By building partnerships with them, you can use their channels and resources to reach overseas customers.

Use SNS, the full name is Social Network Services, which is often known as the overseas social networking platform.

Use social platform to find customers, it is recommended to use social marketing tool — can automatically identify customer inquiry mailbox registered social accounts, track enquire customers, to improve the inquiry conversion rate through social marketing! Also intelligently recommend highly relevant social users who are interested in your product. Such social marketing tools can allow you to easily find customers on SNS platforms

Use customs data. For foreign traders, customs data is a very important tool to accurately obtain the information of foreign buyers and develop customers.

Since the customs data are real transaction records, as long as we analyze and screen the data of purchasing volume, purchasing cycle, purchasing specifications and other products of purchasers, and then focus on the development of matching purchasers, we can achieve twice the result with half the effort. Through the analysis of the transaction records of the buyer by the customs data, the foreign trader can find the purchase time, quantity and products, and find out the purchasing rules of the buyer, and then can recommend the product to him at the best time, which helps to improve the order rate.\

Industry chamber of commerce, the association to dig up customer resources

Through national trade associations, trade center, foreign trade business personnel can find some buyers information, at the same time also can understand the industry manufacturers, dealers, to the enterprise further clear regional market is of great help, at the same time some overseas buyers of domestic suppliers do not understand the situation, will entrust the industry association for supplier recommendation, at the beginning of our reform and opening up, this is very important a way to develop foreign trade customers.

Participate in overseas exhibitions

The exhibition can provide a platform for direct communication with customers. At the exhibition, the customer can directly real and close to see your products, and you can face to face with communication and customers, generally to the exhibition of basic are industry related personage, if communication smoothly, understand enough, the opportunity of the opportunity is bigger, thus saves the electric pin, visit, customer tracking development steps, save the time cost. After the epidemic, the door was open, and foreign traders have more opportunities to visit customers overseas. In Southeast Asia, it has become the first stop for many clothing companies due to their close distance, low consumption and good resources.

Asia Fashion (Vietnam) show adopts the innovative exhibition mode of "double line development"."Double line" is online and offline, digital exhibition on the 90 antennas before the exhibition, communicate the intended buyers in advance; use the IPAD cycle to play the publicity video provided by the exhibitors, provide the equipment for "instant negotiation" to assist the buyers to collect procurement information; show the withdrawal and package of samples, and deliver them to the designated logistics company of the exhibitors at the booth. To some extent, this makes up for the defect that buyers and sellers cannot negotiate face to face, successfully promotes the innovation of exhibition mode, and takes the lead in the road of integration and innovative development of digital technology and foreign trade.

To sum up, in order to expand more overseas customers, clothing foreign trade needs to spend time and energy to polish their products online. At the same time, it also needs to have quite strong information retrieval ability. Multiple channels and online and offline integration can effectively make their fashion products more favored.

#trade shows #clothing #b2bmarketing

0 notes

qiyaexpo · 1 year ago

Text

The "fast fashion" trend is quietly emerging in Vietnam

Fast fashion sweeps through the Vietnamese clothing&apparel retail industry

Vietnam is undergoing an economic transition and consumer behavior has undergone profound changes, said Pham Thai Binh, head of retail leasing in Ho Chi Minh City, Vietnam. About four to five years ago, surveys conducted by many prominent international institutions showed that it would take 10 years for Vietnam's retail market to reach a certain level of development.

Yet many experts are surprised at what they are witnessing as the market crept on: Vietnamese consumers' demand for reasonably priced imports has soared. Zara is one of the largest fashion brands in the world, priced 15-20% less than its stores in Malaysia and Singapore, triggering Vietnam's desire to integrate into the world's fashion. Zara Vietnam became the leading brand in Vietnam's retail industry, which also encouraged other foreign brands to enter the Vietnamese market. Two prominent "fast fashion" brands, H & M from Sweden and Uniqlo from Japan, will soon open stores in Ho Chi Minh City, with rumors that Forever 21 may also join in the fashion revolution.

While consumers seem to welcome the trend, a growing number of Vietnamese companies from foreign fashion brands will face challenges in the sector, forcing them to improve to survive the competition. Pham Thai Binh said the purchasing power of its imports was highly appreciated, whether Vietnam's economic growth was rapid or slow. In Vietnam, affordable "fast fashion" has become the fastest growing industry, followed by film, entertainment and restaurants. Retailers in Vietnam are gradually starting to respond to their customers' daily needs and offer more affordable prices.

Competition between domestic and foreign brands

The Hanoi Supermarket Association estimates that foreign brands account for about half of Vietnam's retail market."Although foreign companies are professional and cautious. They have a long-term marketing strategy and vision, but their local Vietnamese peers are more flexible and adaptable because they understand the tastes of Vietnamese consumers. However, this flexibility should be limited to the advantages of Vietnam's local markets, not foreign markets. Vietnamese companies need to build long-term strategies and survive competition with foreign competitors to achieve sustainable development, said economist Vu Vinh Phu, former president of the Hanoi Supermarket Association.

Domestic textile and garment enterprises should take the initiative to change the consumer demand and turn challenges into opportunities. Many of these brands are undergoing major changes, adjusting their strategies. For example, Canifa has its product range while improving product design and reaching buyers through new channels such as participating in fashion shows held overseas. At the same time, premium domestic brands, such as Iris, Alcado,and Magonn, are renovating their products based on international fashion trends to better meet the needs of customers.

Asia Fashion (Vietnam) Show, is such a show, gathered the bags shoes fashion brands at home and abroad, in ho chi Minh city held a Asian fashion grand exhibition, exhibitors can have and face to face communication with buyers from all over Asia, to the forefront of Asian fashion information.You are warmly invited to join the expo !

#fashion

1 note · View note