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Fashion has a growth potential in ASEAN markets

Fashion has a growth potential in ASEAN markets

According to a survey by the Hong Kong Trade Development Council (HKTDC) conducted the fashion has the greatest growth potential in the markets of the ASEAN countries. About 63% of people have participated in the survey said they will spend more for fashion in the next two years.

The HKTDC's research revealed that consumers are spending more, the ASEAN for the labels for domestic rather than foreign brands, though there are also many opportunities for Hong Kong companies to offer good design and quality.

Mr. Dickson Ho, HKTDC's Chief Economist said in a press conference that "the result shows that more Hong Kong labels are middle class KEEN to know, is who desire the product was introduced more to their country".

95% of the respondents said they are willing to spend more for better quality products, while 89% like "personal style". The ASEAN consumers shows the desire to use the product according to the trends and new, with 83% saying they always willing to try new products and brands ".

The characteristics of the environment, good design, certification and packaging are the criteria for selecting consumer goods to ASEAN. So brands must create value beyond our core functions to be successful in the ASEAN market.

The survey found that ASEAN's middle-class multi-channel shoppers, with the purchase decision is influenced by the reviews online. At least 50% of the respondents have a purchase online or use both online and offline channels.

On 50% also reported that social media such as facebook, Twitter and Instagram has influenced their purchase decisions. This shows that Hong Kong suppliers can use social media to sell products to ASEAN consumers.

The survey results also confirmed that ASEAN consumers viewed Hong Kong as the place to settle tendency and life style is the heart of the products according to the trend, while feeling for the products and services of Hong Kong has the value from Lt. the average to high.

The survey was conducted in the second quarter of the year 2017, survey on 1400 consumers in Jarkata, Surabay, Bangkok, Kuala Lumpur, Ho Chi Minh City, Hanoi and Manila.