Sales of menswear saw only a small recovery in 2021 in current value terms, with restrictions on tourism and the impact of COVID-19 on the economy continuing to be felt. While products designed for comfort benefited from the ongoing home seclusion, the opposite was true for sales of formalwear.
Brands were seen to be taking different approaches to promoting and selling their ranges of menswear at the end of the review period, with the impact of COVID-19 forcing them to adjust their strategies. Some looked to offer exclusive online items and/or collaborated with designers to create exciting new collections.
As consumers become more concerned about the environment and issues of sustainability this is having a growing influence on the way brands conduct themselves and how they produce and market their menswear.
Menswear is projected to gradually recover over the forecast period, with retail volume sales expected to return to pre-COVID-19 levels by 2024. Tourism ground to a halt during 2020, while the reopening of borders was short-lived in 2021 after the country was hit by the Omicron variant.
It is expected that new product development will focus on menswear which can be worn both for work and leisure, inspired by flexible working arrangements and a more casual approach to office attire. There is also likely to be an ongoing focus on functionality, with consumers leading increasingly busy lives and therefore looking for convenience.
While tourism should provide a boost to menswear, the COVID-19 pandemic has had a huge impact on the local economy and as such many consumers will likely remain price sensitive. As such, there could be a stronger presence of unbranded items/private label offerings over the forecast period, with these targeting more price sensitive locals.
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Understand the latest market trends and future growth opportunities for the Menswear industry in Thailand 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.
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Menswear
This is the aggregation of men's outerwear and men's underwear, nightwear and swimwear.
This report originates from Passport, our Menswear research and analysis database.
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