Demand for designer apparel and footwear (ready-to-wear) in 2020 was negatively affected by the pandemic and related lockdown measures enforced by the Malaysian government. Since an important consumer base for designer apparel and footwear (ready-to-wear) is international tourists, the drop in international tourist arrivals due to border closures lasting throughout 2020 significantly lowered demand for many brands.
Once outlets were allowed to reopen in May 2020, many players engaged in promotional strategies to encourage sales. Price discounts dominated as the primary promotional strategy in 2020, with many designer apparel and footwear (ready-to-wear) brands engaging in this strategy.
Having a well-established online presence became essential in 2020 amidst the pandemic. As a result, players such as Giorgio Armani launched official online stores.
The recovery of designer apparel and footwear (ready-to-wear) in Malaysia will begin in 2021, as it is set to return to positive growth. However, it may take some time to return to 2019 current retail value levels, possibly until 2023.
In the forecast period, discounts will continue to serve as significant marketing strategy. Entry-level luxury brands such as Coach and Ralph Lauren will likely continue using discounts to gain stronger market share in the forecast period.
The forecast period is expecting increasing numbers of online players as offline players venture into online to capture consumers. Direct import online channels will likely gain significance, as the number of users has been spiking in Malaysia in 2020 and even pre-pandemic.
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Understand the latest market trends and future growth opportunities for the Designer Apparel and Footwear (Ready-to-Wear) industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Designer Apparel and Footwear (Ready-to-Wear) industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Designer Apparel and Footwear (Ready-to-Wear) research and analysis database.
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