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ESSAY SUBJECT MICROECONOMICS THEME ANALYSIS OF FAST FASHION MARKET IN VIETNAM

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Tiêu đề Analysis Of Fast Fashion Market In Vietnam
Tác giả Nguyễn Bùi Hoài Mỹ, Đinh Thanh Ngân, Võ Trương Ngọc Trâm, Vũ Trí Huy, Trần Thị Khánh Hân, Huỳnh Ngọc Quế Trân, Nguyễn Hoàng Huy, Đào Nguyễn Minh Như
Người hướng dẫn Ths. Phạm Văn Quỳnh
Trường học Foreign Trade University
Chuyên ngành Business Administration International Business and Trade
Thể loại essay
Năm xuất bản 2022
Thành phố Hồ Chí Minh City
Định dạng
Số trang 33
Dung lượng 1,25 MB

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Bộ Giáo dục Đào tạo Foreign Trade University ECONOMICS ==========000========== ESSAY SUBJECT: MICROECONOMICS THEME: ANALYSIS OF FAST FASHION MARKET IN VIETNAM Group : Class : K60MF2 Major : Business Administration International Business and Trade Teacher : Ths Phạm Văn Quỳnh NHĨM Hồ Chí Minh City, March 31st, 2022 TIÊU CHÍ ĐÁNH GIÁ: • Nội dung thuyết trình • Teamwork • Cách thuyết trình/ trình bày báo cáo • Trả lời câu hỏi bạn giảng viên CÁC NỘI DUNG CẦN THIẾT: • Trình bày vấn đề (Topic) nêu khái quát lý thuyết sở vấn đề • Nêu thực tế dùng lý thuyết để phân tích thực tế • Kết luận học rút • Tên thành viên nhóm phần làm việc người YÊU CẦU: • Nhóm: - 10 sinh viên • Thời gian: tuần học cuối • Nội dung yêu cầu: dùng mơ hình cung - cầu để phân tích thị trường sản phẩm, dịch vụ VN Ví dụ: thị trường vàng, thị trường dầu mỏ, • Viết, in nộp báo cáo ( cho GV ) nộp online lên link • Bài báo cáo tối thiểu 25 trang A4 • Deadline: Trước 17:00 - 12/04/2022 • Thuyết trình lớp THƠNG TIN LIÊN HỆ: Đối với Giảng viên: • Họ Tên: Phạm Văn Quỳnh • Email: phamvanquynh.cs2@ftu.edu.vn Đối với Thành viên: • Họ tên: Nguyễn Bùi Hồi Mỹ NHĨM • Email: k60.2115027053@ftu.edu.vn MARKET RESEARCH - TEAM Number of members: Họ Tên: Đinh Thanh Ngân o MSSV: 2115027112 Họ Tên: Võ Trương Ngọc Trâm o MSSV: 2115027121 Họ Tên: Vũ Trí Huy o MSSV: 21150271134 Họ Tên: Nguyễn Bùi Hoài Mỹ o MSSV: 2115027053 Họ Tên: Trần Thị Khánh Hân o MSSV: 2115027044 Họ Tên: Huỳnh Ngọc Quế Trân o MSSV: 2115027123 Họ Tên: Nguyễn Hoàng Huy o MSSV: 2115027139 Họ Tên: Đào Nguyễn Minh Như o MSSV: 2115027063 NHÓM Lời The global fashion industry in general and Vietnam in particular, the fast fashion market has a great influence and helps the fashion industry to develop significantly Be aware of the benefits, potential opportunities and downsides of the fast fashion market in Vietnam Group would like to take great responsibility for analyzing the assumption of this market in Vietnam from the perspective of first-year students – Foreign Trade University - CSII Although, while working as a team, there were some inadequacies in data information, the 5th group still actively solved the difficulties that the team was facing and jointly pushed the team to complete the best work Đại diện nhóm - Lời cảm ơn To complete this report, Group would like to sincerely thank Mr Pham Van Quynh for his help to help group learn and provide data and materials during the course of study and the topic Because of the limited knowledge, in the process of doing and completing, we are not immune to mistakes, looking forward to receiving comments from you In particular, I would like to sincerely thank everyone in the group for uniting and building together throughout the past time, and collecting information to complete the work of each individual in particular and the report in general Đại diện nhóm -“Điều kỳ diệu xảy bạn biết tin tưởng vào thân Nếu bạn mơ ước Bạn làm được” – Walt Disney NHÓM 5 Table of Contents A ANALYSIS OF THE SIZE OF THE FAST FASHION MARKET AND COMPETITORS MARKET SIZE COMPETITORS: B THE GROWTH OF THE FAST FASHION MARKET 10 THE REVENUE OF FAST FASHION INDUSTRY IN VIETNAM: 10 THE RACE TO DOMINATE THE MARKET OF FOREIGN BRANDS: 11 “GOLD MINE IN VIETNAM”: 12 C MARKET TRENDS 12 INCOME AND MARKET: 12 SUSTAINABILITY: 12 MARKET STRATEGY: 13 MARKETING: 13 IMPACT OF COVID-19 ON THE FAST FASHION MARKET 14 D DEMOGRAPHICS AND SEGMENTATION 15 SEGMENT BY GEOGRAPHIC LOCATION 15 MARKET SEGMENTATION BY DEMOGRAPHIC 16 MARKET SEGMENTATION ACCORDING TO PSYCHOLOGY 18 MARKET SEGMENTATION ACCORDING TO BEHAVIOR 19 E PROFITABILITY OF THE MARKET 20 F THE DETERMINING FACTORS OF SUCCESS 24 PRODUCTS 24 PRICE: 25 COMMUNICATION: 25 HUMAN RESOURCES: 26 G DISTRIBUTION CHANNEL 26 H COST STRUCTURE 30 MATERIAL STRUCTURE: 30 GENERAL AND MANAGEMENT COSTS: 31 LABOR COST: 32 COST OF OPERATING THE STORE: 33 TAX: 33 NHÓM A ANALYSIS OF THE SIZE OF THE FAST FASHION MARKET AND COMPETITORS MARKET SIZE a Synopsis • Fast fashion is a term used to describe clothes that are produced quickly at a reasonable price and always keep up with the trends of the times • Some well-known brands such as H&M, Zara, Uniqlo constantly entice customers with new goods each week, month, and season b Manufacturers’ goals Develop new items in a short period of time at a low cost to suit customer demands as quickly as possible c Popularity It’s becoming more and more popular as a result of its low cost, the design of the item is always changing to catch up with the trends of the times Moreover, the number of items is not much, causing the demand of consumers' preferences to increase and accepting spending on demand also increases Create a challenge for manufacturers to constantly grasp the trend to create more unique points NHĨM d Benefits • High Profit Minimizes • Attrition Capture market opportunities with competitors • Attract to encourage consumption and review products • Constant innovation over time, strong development e Disadvantageous • Wasteful and easily replaced by ever-changing fashion • Pollution, poor product quality in some manufacturing places as well as poor working conditions • The majority of fast fashion production is produced from outside countries, causing a downturn in the U.S economic market as well as many other places based on intellectual property • Wisdom: Some designers claim that their design is mass-produced, losing its inherent value f Motivation • Diverse designs, eye-catching • Small quantity items increase the desire to love • Convenient because of the popularity, ease of contact, and sales NHÓM g Customers trends Ages 12-18 Demands Prices Trending and unique with a variety of clothes Stable price from designs, colors as well as trendy styles The trend 100,000VND-300,000VND of pursuing local brands 18-30 30-40 Stable long-term style, suitable for many Stable price from purposes Simple and more hobbyistic 500,000VND There is no need for seasonal prominence but The price is stable freely, tends to age, suitable for both color and style spending can be high and Youthful tendency low depending on the item COMPETITORS: a An overview of the competition in Fast Fashion: Fast fashion is challenging the traditional fashion industry with new collections and product lines launched in a seasonally orderly manner In fact, it's not surprising that brands are constantly launching new designs, even in just one week to catch up with new trends in the market b Competition between brands: (Chart) • Strengths: Each brand will have its own strengths, not only in terms of product designs, brands are often known to consumers with outstanding products A good example is Uniqlo, known as one of the "Giants" in simple fashion in Japan and Asia When it comes to Uniqlo, people will immediately think of simple T-shirts, printed funny images suitable for customers who not have much time to choose clothes every morning Such T-shirts are not only easy to coordinate with other NHÓM items, but also easy to wash and ensure the quality of the product Besides, one of the other prominent fast fashion brands is, its linen shirt was once one of the bestselling products of Southeast Asian countries, because of the climate in this region, the company has grasped the situation and succeeded in conquering customers • Price: The price of similar products often varies negligibly, so the Price will not be the reason to decide whether the consumer has the choice to buy in that Company or not • Convenience: Because of the era of technology 4.0, consumers put convenience first Brands with the location of the goods as well as having an online shopping website will usually be given priority to be selected Therefore, most of the companies have goods located in expensive locations such as large shopping centers, clothing shopping areas for young people, In addition, airlines are also in the process of creating online shopping channels to improve service quality as well as compete with brands in the same industry Moreover, placing stores in central locations is also a way to promote the brand, attract curiosity and attract fashionable properties.  • Promotion: Brands regularly work with well-known artists to bring their style closer to buyers For example, in 2019, UNIQLO was a huge success with the UNIQLO x KAWS collection, which sold out within minutes of its launch in China and around the world The launch event of the Collection caused a great disturbance in the region, and it was because of that chaos that caused curiosity and stimulus of the product, generating a huge turnover for both sides Link to the article: https://bitly.com.vn/qix6x6 • Discountable: Discount Brands offer promotions to attract rival customers: Black Friday discounts, vouchers, discount codes, discounts for new collections, • Form, Model: The variant of the product includes color, form, size, and style Each year, the average company launches more than 3000 products to meet the needs of consumers The competition between brands is not small, they use all kinds of ways NHÓM 10 to change products accordingly to pull customers towards them In the past, brands from Europe often did not have size XS, but when introduced to Asia, they adjusted and supplemented to suit the human organs of customers and make their customers satisfied More than ever.  B THE GROWTH OF THE FAST FASHION MARKET Formed very early, but it was not until the 1960s that really a time when the fast fashion industry developed significantly "like a duck in water" because of its "instant" nature (diverse designs that fit trends and rotate continuously, the price is not high) There are the reasons why they attract so many costumers.  Especially in the Vietnamese market, because the per income of the people is not high, for them, the fashion brands are seen as "fast fashion" that still a luxury item (not included in the mid-range item) The revenue of fast fashion industry in Vietnam: 1800 1600 1400 1200 1000 800 600 400 200 2016 2017 2018 ZARA 2019 H&M Pic Revenue of Zara and H&M from 2016 to 2019 NHÓM 19 from the past Therefore, young people are often the ones who absorb those trends very quickly The psychology of each age is analyzed as follows: • Youth: Enjoys outdoor activities, meeting friends with a dynamic and youthful style As a result, they often aim for fast fashion items • Young people: Busy with studying and working part-time At this age, they gradually pay attention to their dress as well as care for themselves more • Adults: Belonging to the two social classes are middle class and upper class As a result, they have many different lifestyles and different professions Each profession often requires an improvement in appearance or a flexible change in fashion Therefore, fast fashion is an easy market to choose from by people of this age • Middle-aged people: At this age, they tend to dress in the right style and mature so they often turn to high-end items over fast fashion They no longer follow the same trend as young people Market segmentation according to behavior a Reasons for purchase - In the household: Fast fashion is used as a necessary item of each person, as well as also as gifts to give - In addition to households: Agencies and businesses often choose this market to business and develop under the new fashion model b Fast Fashion Benefits is one of the largest consumer markets in the major fashion market It aims at simplicity in the way you dress, the price is reasonable or the constant change of fashion trends around the world The fashion item is constantly updating the trends and developing it to suit people of different ages NHÓM 20 E PROFITABILITY OF THE MARKET In order to determine the profitability of the fast fashion market, we will calculate according to the formula of profitability in economics as follows: 𝝅 = 𝑻𝑹 − 𝑻𝑪 In it: o Π: Profit of the firm o TR: Total Revenue of the firm o TC: Total cost of the firm In order to determine the most accurate total revenue and give an objective view of the total, group would like to divide the fast fashion market into main groups: Accessories, Apparel, Footwear The revenue of the fast fashion market in Vietnam is 2,412 out of the total revenue of the world - 812,412 million USD a Total number of users in each item: NHÓM 21 Over the years, the garment industry is increasing in the number of consumers In particular, the garment fashion item has the largest number of consumers and continuous growth (from 17.6 million - 2017 to 34.0 million - 2022) and the number of consumers in the group wearing accessories is the lowest and strong growth in the period 2017 - 2022 (11.8 to 25.1 million) For footwear, the number of consumers grew slowly over a three-year period (2017-2019) and grew rapidly in the last years of 2022 Thus, the chart shows the continuous growth of the fashion industry for the number of consumers This also shows that the demand for people's clothing is improving positively b The percentage of consumers' purchases of fashion products: In 2017, fast fashion's profit was 6.6% from online and 93.4% from offline 2018: There was a slight increase in online purchases of 8.8% and a slight decrease to 91.6% in Ofline In 2019, online shopping profit was 10.3% and offline was 89.7% In 2020: increase the percentage of profits obtained from Online to 17.5% while Offline decreased slightly to 82.5% In 2021: continued increase in profits from Online (22.5%) and there is a decrease in offline (77.5%) In 2022, profits will be 21.4% (Online) and 78.6% (Offline) The impact of the epidemic and the development of technology should be from 2019 through social networking platforms, consumers tend to buy through e-comercial, NHÓM 22 so the proportion of profits coming from online increases This has also been able to keep buyer demand and sellers' supply has seen a marked increase in recent years for the form of buying fast fashion products in particular and goods in general c Average revenue of each consumer with each item: Fashion apparel still accounts for the highest proportion of consumer choices and has doubled to $41.31 in the four years from 2017.For accessories, consumers are willing to spend twice as much on shopping for fashion accessories to increase their personal self-esteem in three years (from $12.69– 2017 to $15.87 - 2020 ) and an increase of nearly 100% in the last years ($29.36 - 2022) For footwear items, there has been a decline in about years since 2017 (from $4.40 - 2017 to $ 3.78 - 2019 ) and the last years tend to go up with almost double growth in 2022 compared to 2017 (7.53 - 2022) The chart has shown us that over the years along with the development of the country The demand for fashion goods has also increased to almost double the levels and this confirms for consumer income has also caused the demand line NHÓM 23 for the fashion industry to shift to the right and the price of these products is also higher (specifically about times) d Revenue of each group of goods: From 2017 to 2018: Accessories and clothing items tend to go up slightly from $351-$493 million (clothing items) and $149 to $213 million (for accessories items) Footwear remained unchanged ($75 million) By 2020, all three items will increase sharply: • From $493 to $959 million (clothing items) • From $213 to $422 million (for clothing items) • From $75 million to $142 million (for footwear items) By 2022, it is expected to continue to grow rapidly for all three items: • Accessories items will increase by $314 million • Clothing items will increase by $478 million • Footwear items will increase by $98 million NHÓM 24 F THE DETERMINING FACTORS OF SUCCESS Products This is important to determine the success of a brand The product must be good, shape a fashion style of its own, a separate design, the quality of the product must be better than other fashion brands In addition, the product must follow fashion trends Products are divided into schools: Short-term: Focusing on trend trading, making money seasonally In this way, just hit the trend, reasonable price, target the majority of customers and sell in quantity The rule is to hit fast, win fast because the life cycle of this way is very short Medium term: Similar to the short-term school, big brands what I accordingly, what trend I follow that trend This is suitable for brands that have just started without an idea of the product Just choose the right brand that is succeeding and copy and add more salt and reasonable price will be warmly received by the market However, using this method will not avoid comparison and difficulty breaking and without its own mark Long-term: Choose your own style and customer audience then come up with a design idea and produce a product with your own imprint and style Focus on continuous improvement and innovation so that competitors copy not in time and have to follow you Brands must be able to create their own trends and keep up with future fashion trends However, it is necessary to have expertise, sensitivity and understanding of customer thoughts because the risks for launching a new product are very high NHĨM • 25 Price: Targeting different audiences and objectives to come up with the right prices for the product The price should be enough to attract customers at that time and make an impression later on for the brand The price must be appropriate, not too high compared to the market but also ensure profitability for the store If the brand chooses to sell at a low price at the beginning and provide a stable product, the store will attract a lot of customers • Communication: It is a form of advertising that introduces fashion products to customers The goal of communication is to give the recognition and memorization of the brand name to customers Photos / videos: For the fashion industry, to achieve high efficiency, the image must make an impression on customers, focusing on the product In addition, the photography trend must also be eye-catching so that customers can remember the product of the store Social networking sites: With the current 4.0 era, the competition between brands is extremely fierce Instead of just offline promotion, online advertising such as Facebook, Instagram, Tiktok and sales sites such as Shopee, Lazada is extremely necessary for customers to access products faster especially in the age of development, consumers tend to consume more online Tricks: In order for customers to remember the brand name and store, brands should have policies to promote, discount and thank customers (long-term NHÓM 26 shoppers) Gifts are included when purchasing products at the store with the total invoice that the store gives for each price • Human resources: The staff must be professional and know how to grasp the psychology of customers Employees should always provide comfort when advising customers even when messaging through the website This will increase customer loyalty to the store G DISTRIBUTION CHANNEL The retail distribution channel is the conduit of the product from the manufacturer to the end consumer In the fashion business, a good distribution channel will have a big impact on the business Fashionable clothing produced should reach retail stores at the right time to impact consumers buying the brand's products Any delay in the supply of clothing to consumers can lead to major losses for the fashion brand There are three main types of distribution channels that manufacturers can choose from: Direct channel: This is the distribution channel where the retailer takes clothes directly from the manufacturer Not through intermediaries such as wholesalers, other agents In this channel, the manufacturer has full control over the distribution of its products, which makes it difficult for the retailer to buy the product in bulk However, these products are cheaper because they are of direct origin This can be a big advantage for fashion brands Indirect channel: NHÓM 27 In this channel, the wholesaler or agent acts as an intermediary between the manufacturer and the retailer While this can offload the distribution to the manufacturer, the retailer pays a higher price for the goods to include the middleman's commission However, fashion brands can order in higher quantities from these intermediaries Hybrid channels: An alliance of direct and indirect distribution channels, a mixed channel is the basis of most B2B platforms In a combined channel, the manufacturer hires various distributors to advertise its products but still has control over the market This means that the manufacturer's agents advertise their products on different channels They then instruct any interested party to the manufacturer, who makes the final call In addition to using retail distribution channels, fashion houses should be interested in another fundamental aspect - the retail distribution strategy While the retail distribution channel is interested in how to get the product into the hands of consumers, the retail distribution strategy is more interested in how the product is marketed to consumers What is a retail distribution strategy and its different types A fashion brand uses a retail distribution strategy to market its products effectively, helping to increase sales A fashion brand should use the perfect retail distribution strategy to market its clothing to the target consumer and ensure a stable supply chain, proper storage, and efficient retail distribution What is a retail distribution strategy and its different types A fashion brand uses a retail distribution strategy to market its products effectively, helping to increase sales A fashion brand should use the perfect retail distribution strategy to market its clothing to the target consumer and ensure a stable supply chain, proper storage, and efficient retail distribution There are three retail distribution strategies that fashion brands can adopt: NHÓM 28 In-depth distribution strategy: According to this strategy, fashion houses make their brand clothing widely available everywhere with the interest of consumers These may include multi-brand stores or other retail and exhibition venues This helps the fashion brand reach more audiences, increase brand visibility and provide impulsive buying opportunities, thereby increasing sales Selective strategic distribution This strategy is mainly implemented for products suitable for a select group of audiences Fashion houses that sell niche products have full control over the locations where their costumes are sold They can choose to sell their clothes in exclusive stores and some selective stores with their target customer base This helps the fashion house maintain its brand image When fashion brands choose retailers, they can control many different aspects such as product delivery and distribution channels Exclusive distribution An exclusive retail distribution strategy involves offering products only in limited locations, thus keeping the brand's products exclusive Fashion houses that sell high-end fashion products often use this distribution strategy to maintain the exclusivity of their products This works for high-end consumers because they are attracted to proprietary products and are not everywhere Fashion brands can choose their retail distribution strategy based on the type of clothing they business with, the target consumer, and the brand image they want to maintain How to improve the retail distribution of your fashion products: NHÓM 29 Fashion brands should focus on different aspects of retail distribution to drive sales The coordination between these aspects will help their products to be circulated smoothly from warehouses to retail outlets Here are some ways that fashion houses can improve the retail distribution of their fashion products: Open communication with retailers: • Fashion houses should make an effort to build good relationships with retailers This open communication channel encourages retailers to focus on the fashion brand's products, thereby increasing sales This will be especially useful in case retailers have multiple brands in their stores Set goals in different markets • Fashion brands must be able to identify a market that does not bring in sales Trying to analyze the reasons and work towards the fix will help drive sales If new strategies don't work, they can focus on another area of growth Keep good relationships with channel partners • Good relationships with partners in the channel create a smooth and timely product line to the market Fashion brands should ensure that their products are easy and always on the market, never missing out on a customer's buying opportunity New market choices for existing products • Fashion brands should always look for new markets to drive their retail sales This can be done by conducting surveys and holding promotional events in new markets to determine the trends and preferences of the audience there NHÓM 30 H COST STRUCTURE Material Structure: Today's fashion products have a lot of different sources of materials Traditional ingredients such as cotton, linen and leather are all derived from plants and animals But most fast fashion brands now tend to use artificial fabrics in the manufacturing process During the manufacturing process, the brands used around main raw materials in the operation of the product production process a Artificial fabrics: The materials for making artificial fabrics are derived from crude oils or fossil fuels 62% is the estimated figure of artificial fabrics in the production of fast fashion products in Vietnam – mainly polyester, plastic, acrylic polypropylene and elastane In addition, data on artificial fabrics used globally is predicted to grow by 7.3% in 2021 to 2025 b Cotton fabric: One of the oldest and best known ingredients is cotton Currently, cotton fabrics account for about 24% of the total market share available - 1,633 tons of fabrics but the market of cotton has declined due to the market share of artificial fabrics growing too fast c Viscose Fabric: NHÓM 31 These materials all come from natural materials such as bamboo or woody trees and the production process is like artificial fabric Currently, about 18.6 million tons are imported and used in Vietnam This figure is expected to rise to 8.1% per year until 2025 d Wool Fabric: Wool fabric production accounts for very little in the fast fashion school in Vietnam (about 1%) About 965,000 tons are imported annually into the Vietnamese market e Leather Fabric: It is one of the oldest materials in history used in accessories or shoes/slippers About 854,000 cows and other cattle are raised for the purpose of obtaining skin for use in the fast fashion industry each year f Different Fabric: Bast fibers, organic fibers, recycled fibers are sources of raw materials produced to meet the needs of sustainable raw materials Revenue from this market is not growing like other markets (about $13 billion per year) General and management costs: In addition to the cost of raw materials, each fashion product must have a general and management cost to ensure that the operation does not encounter any obstacles or difficulties before reaching the consumer's hands a Management staff expenses: NHÓM 32 It is considered as all expenses that the enterprise must pay for business management personnel including salary, insurance, allowances, Of the management staff in the departments b Cost of management materials: Is the cost of repairs for tools or tools, stationery, materials for repairs in fixed assets? c Fixed asset depreciation expense: Reflects the wear and tear of fixed assets shared by the company, such as offices, managed machinery and equipment, homes, vehicles, and transmission materials d Taxes, fees, and charges It is the cost of taxes, land rent, other fees, and charges Labor Cost: It is a direct expense that a business must pay for wages and other benefits of employees compared to the number of jobs they complete in a certain fashion period related to the production of products or the provision of services Expenses included: a Salary: This cost is usually paid according to the number of hours or productivity of the worker to produce goods or provide services b Payroll tax: Includes all payroll taxes of employees involved in the production or provision of a certain service c Compensation for labor: It is the cost that enterprises often must pay for workers who have events in the labor process - often toxic industry groups: coal mining, petroleum, NHÓM 33 d Social insurance: Is the amount that the enterprise must pay to the social insurance agencies of the government to ensure the productivity of the producer or employee Cost of operating the store: Overhead costs, or "general costs," are those associated with the day-to-day operation of a brand This cost does not include the cost of labor and materials directly Tax: Tax is a mandatory payment that individuals and enterprises must pay to the State and based on legal documents issued by the State It is not of the same value and will be returned directly to the taxpayer In particular, enterprises are required to pay the following taxes: • Business-license Tax • Value-added Tax • Personal Income Tax • Corporate Income Tax Export tax – Import of Raw Materials Sources ... increase in online purchases of 8.8% and a slight decrease to 91.6% in Ofline In 2019, online shopping profit was 10.3% and offline was 89.7% In 2020: increase the percentage of profits obtained... analysis of experts in the field of fashion, fashion brands will "live well" in Vietnam for at least years (due to the habit of using foreign goods of Vietnamese people and the increasing life): o In. .. obtained from Online to 17.5% while Offline decreased slightly to 82.5% In 2021: continued increase in profits from Online (22.5%) and there is a decrease in offline (77.5%) In 2022, profits will be

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