ASEAN mid-class to spend more on fashion items–survey

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(Source: Sunstar.com.ph | November 30, 2018)

According to a recent survey, middle class in Southeast Asian cities particularly in Jakarta, Kuala Lumpur and Bangkok, are willing to spend more money on fashion items over the next two years.

The survey was conducted by Hong Kong Trade Development Council (HKTDC) and it reported that fashion took the third place in terms of spending in the past two years, just after travel and leisure; and health, beauty and wellness.

Among fashion and accessory items, the distribution of spending were: business attire (28 percent), casual wear (26 percent), shoes (22 percent), accessories (12 percent), travel goods and handbags (eight percent), and spectacles (four percent).

“The whole way Asean consumers experience fashion is fundamentally different from a decade ago. In the past, people who lived in Paris, Milan or New York might know the fashion trends first, but via the internet and overseas travel, Asean people nowadays are well aware of international fashion trends,” it said.

But while Asean people want international designer brands, they are also attached to fashion reflecting their unique cultural heritage and history.

The survey noted that some local designers from Indonesia, Malaysia, and Thailand, who are “turning to local cultural heritage and history for inspiration in order to create a distinctive fashion identity that is able to stand out and differentiate itself from the international brands.”

“Some designers have successfully incorporated rich cultural heritage to establish a design authenticity that is not just appealing to local consumers but also international tourists. Asean fashion is about embracing cultural roots instead of disregarding them for a global approach,” it said.

With the 634 million citizens of Asean are still young, the survey pointed out that youth is an essential consideration for foreign fashion brands that wish to tap into the Asean market.

 

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