It has been an interesting year for Bangladesh with many of the negativities of 2014 giving way to positivity and growth. As a keen observer of the industry, Apparel Online saw many trends emerge. While some are still in the nascent stage, the influence of others is very visible… What a better way to start a New Year than to reflect and retrospect on the learning of the year gone by and analyse trends for future growth!
Among the most noticeable trends is the increased focus on new product categories. Many established players are looking for ‘different products’ to excite the buyer. Among the many products that are being explored, AO feels that the big four are sportswear, lingerie, legwear/socks and leather goods, including footwear. Both the exporters and buyers have endorsed these products and an increasing number of manufacturers are investing in these segments.
It is no secret that Bangladesh is today the denim manufacturing capital of the world… 2015 not only reinforced the position, but it was the only product to see continuous growth from all markets irrespective of market conditions… The trend may not be new, but the potential for growth is yet to be fully realised, so it finds position in our key trends analysis for the year.
What started as an initiative by leading manufacturers to impress buyers is a movement today with an increasing number of companies going for Green buildings… and many others planning investment in this direction. The movement is so strong that the Central Bank of Bangladesh has decided to launch a new fund worth US $ 200 million to facilitate Green financing in the country… Need I say more on why this is a trend!
Following closely and often misconstrued as overlapping is the growing awareness of sustainability in business practises. These small interventions are about saving resources like water, energy, fabric, space, etc. and also cutting cost in manufacturing…; definitely a trend to watch out for.
Improving safety, besides active role of various organisations, including industry bodies in bringing about the change, is worth noting… Not enough can be said about this trend as we analyse the new developments in this area. Now it is not only about safety, but involvement and healthy work environment… Bigger companies are showing the way and the buzz it has created among the smaller players, even earns this movement a place in our final 10 Trends of the year.
From a buyers’ perspective, they too are helping the country to change and many of them are pushing the exporters towards smaller quantities and more value-added products, an area that was never considered as Bangladesh’s strength. To its credit the industry is responding and buyers are increasingly experimenting with fashion in the country. Matching steps with the growth of the industry, many companies have gone in for expansions and many others are in the pipeline… bigger volumes and fresh infrastructure are the directions that will help Bangladesh grow in the future.
To round it off, two trends – one market and one fashion-related – close our Top 10 Trends of the year. For the industry it is exciting to know that physical stores are not only still in business but could be the future growth segments for retailers and brands even in the digital era. The Top 12 Fashion Trends that determined what sold in the stores around the world is only indicative of what to expect this year!
As always, I invite my readers to share their thoughts and experiences and wish all of you a very busy and fruitful year ahead. Happy New Year…!
