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Learn moreFeb 2021
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Even prior to the outbreak of COVID-19 the outlook for Thailand’s apparel and footwear industry was not a bright one with its economy under pressure, high unemployment and high household debt, along with a slowdown in tourism. As such, when COVID-19 hit it dealt a further blow with unemployment skyrocketing as businesses struggled to cope with the fallout of the measures taken to control the spread of the virus.
On 13 January 2020, Thailand became the first country outside of China to confirm a case of COVID-19. The first case involving local transmission of the virus was reported on 31 January.
With sales plummeting in 2020 due to COVID-19, manufacturers and retailers were forced to adapt their strategies in order to best manage the situation. The most obvious example was companies branching out into the production of face masks, with brands including Arrow, GQ, Wacoal, Sabina, Cheliron, Itokin, Mc Jean, Guy Laroche, BSC, Enfant, and J Press all introducing their own lines of face masks during the year.
Faced with store closures during the lockdown there was a strong shift online during the first half of 2020, although this was not sufficient to compensate for the loss of sales seen in brick-and-mortar stores. For those brands already present online they looked to expand their offer and services, using special online promotions and discounts to attract interest.
COVID-19 has dealt a heavy blow to apparel and footwear in Thailand and it is expected to take until at least the end of the forecast period before sales return to pre-COVID-19 levels. With high unemployment and more jobs under threat it is unlikely that the market will return to growth until at least 2022, with the return of significant tourist numbers being key to the recovery.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Apparel and Footwear industry in Thailand with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Apparel and Footwear industry in Thailand, our research will save you time and money while empowering you to make informed, profitable decisions.
The Apparel and Footwear in Thailand market research report includes:
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This industry report originates from Passport, our Clothing and Footwear market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.