Recently a survey report by Hong Kong based manufacturers, traders and service providers, Hong Kong Trade Development Council (HKTDC) shows that the women’s wear segment will continue to dominate the global fashion market in 2018.
In the survey, women’s wear attracted the highest level of ‘likes’ from both buyers and exhibitors (66 per cent and 82 per cent), casual wear garnered second place (23 per cent and 3 per cent).HKTDC survey covered more than 200 buyers and 70+ exhibitors from Hong Kong, the Chinese mainland and other regions. The aim of the survey was to get an overview of the current market prospects, new product trends and the latest e-tailing developments.
If one looks at markets, Hong Kong has the greatest 2018 growth potential as noted by around 90 per cent of the respondents in their traditional markets followed by South Korea and Taiwan, the report stated.
The fashion brand-promotion survey noted a positive sales performance in 2018. 75 per cent of respondents held the view that Mainland China would emerge as the most promising emerging market in 2018 followed by Eastern Europe (43 per cent), followed by the ASEAN countries (43 per cent).
58 per cent of buyers saw no change in the retail price of their products in 2018, while 39 per cent hope for an increase in retail price. In terms of FOB selling price, 70 per cent of exhibitors said they expect to see a status quo in 2018, while 17 per cent of respondents predicted an increase. 13 per cent expect to see a decrease in the overall FOB selling price. 55 per cent of the buyers expect an increase, 44 per cent anticipate no change while 1 per cent expects to see a price decline. On exhibitor’s side, 21 per cent of respondents expect production cost increase, while 79 per cent predicted either a fall or no change.