Clothing And Footwear in Singapore
Euromonitor International's Clothing And Footwear in Singapore market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change.
Tables: 52 | Publication date: Oct 2009
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Executive summary
Clothing and footwear market contracted in 2008
The year 2008 was a bad one for the clothing and footwear market, with retail sales falling drastically on account of worsening economic conditions, resulting in job cuts and wage reductions, all of which reduced the disposable incomes available to consumers as well as making them more cautious in their spending. The clothing and footwear market contracted significantly in 2008 compared to 2007, and this was the first time over the review period that negative growth was recorded in both volume and value terms.
Deteriorating economic conditions lead to slash retail spending
The rapidly deteriorating economic conditions resulted in massive job cuts and lay-offs and significantly hurt consumers’ confidence, and they responded by drastically reducing their spending on non-essential purchases. Nearly half of consumers polled indicated that clothing and footwear was a market in which they would look to cut down on spending, which exacerbated an already gloomy environment for the clothing and footwear retail sector.
Women’s shirts/blouses and lingerie the best performers
The fastest-growing subsectors over the review period were women’s tops, and underwear and nightwear. High growth in these sectors was not surprising, since women’s outerwear significantly outsells men’s outerwear in the clothing market, and women’s tops form the largest component by value of the women’s outerwear segment. For underwear and nightwear, the rising popularity of premium lingerie for women has been the main driver of growth, and many labels appeared almost overnight on the Singapore market that offered increasingly luxurious intimate garments for women.
Retail scene dominated by fashion distributors and conglomerates
Major players such as F J Benjamin, Wing Tai, Royal Sporting House and Club 21 dominate the retail scene in Singapore, and each of them holds exclusive distribution and retail rights to dozens of internationally renowned and popular fashion labels and brands from across the globe. These players typically open specialist boutiques or retail outlets for each specific fashion label or brand name in their stable, and these outlets account for a majority of sales in the Singapore clothing and footwear market.
Future forecast growth projected to be slower
The clothing and footwear market is expected to grow at a lower rate over the forecast period than during the historic review period, thanks to the declining economy, which is not expected to recover until 2010 or 2011 – or even later. This is expected to significantly dampen sales until then, although retail sales are expected to bounce back once the economy gets back on track and starts to grow again.
Table of contents
CLOTHING AND FOOTWEAR IN SINGAPORE : MARKET INSIGHT
EXECUTIVE SUMMARY
Clothing and footwear market contracted in 2008
Deteriorating economic conditions lead to slash retail spending
Women’s shirts/blouses and lingerie the best performers
Retail scene dominated by fashion distributors and conglomerates
Future forecast growth projected to be slower
KEY TRENDS AND DEVELOPMENTS
Job cuts amidst a worsening recession put the brake on consumer spending
Clothing and footwear the third most purchased product online
Blog shops a growing and popular phenomenon
Singapore as a regional fashion capital
Sportswear slowing down – a yesteryear trend
MARKET DATA
Table 1 Sales of Clothing and Footwear by Sector: Volume 2003-2008
Table 2 Sales of Clothing and Footwear by Sector: Value 2003-2008
Table 3 Sales of Clothing and Footwear by Sector: % Volume Growth 2003-2008
Table 4 Sales of Clothing and Footwear by Sector: % Value Growth 2003-2008
Table 5 Clothing and Footwear Company Shares 2004-2008
Table 6 Clothing and Footwear Brand Shares 2005-2008
Table 7 Sales of Clothing and Footwear by Distribution Format: % Analysis 2003-2008
Table 8 Forecast Sales of Clothing and Footwear by Sector: Volume 2008-2013
Table 9 Forecast Sales of Clothing and Footwear by Sector: Value 2008-2013
Table 10 Forecast Sales of Clothing and Footwear by Sector: % Volume Growth 2008-2013
Table 11 Forecast Sales of Clothing and Footwear by Sector: % Value Growth 2008-2013
DEFINITIONS
Summary 1 Research Sources
LOCAL COMPANY PROFILES - SINGAPORE
BENJAMIN HOLDINGS LTD, FJ - CLOTHING AND FOOTWEAR - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 2 F J Benjamin Holdings Limited: Key Facts
Summary 3 F J Benjamin Holdings Limited: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 4 F J Benjamin Holdings Limited: Competitive Position 2008
CLUB 21 PTE LTD - CLOTHING AND FOOTWEAR - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 5 Club 21: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
JAY GEE MELWANI GROUP - CLOTHING AND FOOTWEAR - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 6 Jay Gee Melwani Group: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 7 Jay Gee Melwani Group: Competitive Position 2008
RSH LTD - CLOTHING AND FOOTWEAR - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 8 RSH Ltd: Key Facts
Summary 9 RSH Ltd: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 10 RSH Ltd: Competitive Position 2008
WING TAI HOLDINGS LTD - CLOTHING AND FOOTWEAR - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 11 Wing Tai Holdings Limited: Key Facts
Summary 12 Wing Tai Holdings Limited: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 13 Wing Tai Holdings Limited: Competitive Position 2008
CLOTHING IN SINGAPORE
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 14 New Product Launches 2007– 2008
SECTOR DATA
Table 12 Sales of Clothing by Subsector: Volume 2003-2008
Table 13 Sales of Clothing by Subsector: Value 2003-2008
Table 14 Sales of Clothing by Subsector: % Volume Growth 2003-2008
Table 15 Sales of Clothing by Subsector: % Value Growth 2003-2008
Table 16 Sales of Men’s Outerwear by Type 2003-2008
Table 17 Sales of Women’s Outerwear by Type 2003-2008
Table 18 Sales of Childrenswear by Type 2003-2008
Table 19 Clothing Company Shares 2004-2008
Table 20 Clothing Brand Shares 2005-2008
Table 21 Sales of Clothing by Distribution Format: % Analysis 2003-2008
Table 22 Forecast Sales of Clothing by Subsector: Volume 2008-2013
Table 23 Forecast Sales of Clothing by Subsector: Value 2008-2013
Table 24 Forecast Sales of Clothing by Subsector: % Volume Growth 2008-2013
Table 25 Forecast Sales of Clothing by Subsector: % Value Growth 2008-2013
FOOTWEAR IN SINGAPORE
HEADLINES5
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 15 New Product Launches 2007– 2008
SECTOR DATA
Table 26 Sales of Footwear by Subsector: Volume 2003-2008
Table 27 Sales of Footwear by Subsector: Value 2003-2008
Table 28 Sales of Footwear by Subsector: % Volume Growth 2003-2008
Table 29 Sales of Footwear by Subsector: % Value Growth 2003-2008
Table 30 Sales of Footwear by Type 2003-2008
Table 31 Footwear Company Shares 2004-2008
Table 32 Footwear Brand Shares 2005-2008
Table 33 Sales of Footwear by Distribution Format: % Analysis 2003-2008
Table 34 Forecast Sales of Footwear by Subsector: Volume 2008-2013
Table 35 Forecast Sales of Footwear by Subsector: Value 2008-2013
Table 36 Forecast Sales of Footwear by Subsector: % Volume Growth 2008-2013
Table 37 Forecast Sales of Footwear by Subsector: % Value Growth 2008-2013