In the past, Vietnam was primarily known as a fantastic destination for budget-conscious travelers looking for great shopping opportunities. However, the fashion industry in Vietnam has experienced remarkable growth and diversification. It now caters to various needs, from essential purchases to high-end global brands.
Based on data from Statista, Vietnam’s clothing market was valued at $5.6 billion in 2019. The market was projected to grow at an annual rate of 8.8 percent between 2019 and 2023. Notably, non-luxury goods accounted for 97 percent of the market’s revenue.
However, launching your fashion brand in Vietnam can be challenging. Top distributors here prefer worldwide famous brands while smaller distributors insist on finding themselves brands they think can make good business. In other words, they may not welcome unfamiliar brands actively approaching them. To increase your chance of successfully partnering with fashion distributors in Vietnam, there are a few basic checklists that you should try to meet:
- Trendy Designs
The age group of 25-34 in Vietnam represents the highest spending demographic when it comes to fashion. This is understandable as young individuals tend to prioritize their appearance and are willing to invest in it. They have a keen awareness of new trends and are influenced by media and celebrity endorsements, which significantly impact their consumer behavior.
Fashion distributors in Vietnam keep a close eye on current fashion trends and consumer preferences. They monitor runway shows, fashion weeks, trade shows, and popular fashion influencers to identify emerging styles, colors, patterns, and silhouettes that resonate with the target market.
Therefore as a foreign brand, you need to understand the taste of local consumers to be able to pitch to potential distributors the products and collections that match the trends and preferences of Vietnamese consumers.
- Competitive Pricing
Pricing is a crucial aspect of the Vietnamese fashion market. Fashion distributors in Vietnam strive to offer products that are trendy and affordable at the same time. Even though luxury fashion is still dominant when it comes to international brands, distributors are more and more opt for affordable brands so as to reach a wider range of customers.
Besides, to establish a good relationship with distributors, brands can offer special wholesale prices for the first few years and come back to standard prices later. Vietnamese people always love discounts. This also shows the very positive intention of brands for Vietnam market.
- Strong Branding
When buying new products, 59% of consumers prefer to buy from brands they trust. Which, 21% said that they buy new products from their favorite brands. This statistic proves how important branding is.
Brands that have established a strong presence in overseas markets are often associated with quality and reliability. Vietnamese distributors recognize that these brands have already gained the trust of consumers in other countries, and they believe that the same quality and reliability will resonate with the Vietnamese market.
For small and new brands, there are still opportunities. By doing good branding in Vietnam such as beautiful websites, doing KOLs, PR, and fashion shows… then the Vietnamese distributors will pay attention to brands.
- Marketing Support & Collaboration
Marketing support and collaboration are important aspects to fashion distributors in Vietnam.
- Marketing Materials
Fashion distributors appreciate suppliers who provide marketing materials to support the promotion of their products. This includes high-quality product images, descriptions, and specifications that can be used in marketing campaigns, on e-commerce platforms, and in printed materials such as catalogs or brochures.
Marketing materials help distributors effectively showcase the products to their target audience and generate interest.
- Branding Collaboration
Collaboration between fashion distributors and suppliers can extend to branding initiatives. This may involve joint branding efforts, co-branding, or the development of exclusive collections.
By collaborating on branding, distributors, and suppliers can leverage each other’s brand strengths, tap into new customer segments, and create a unique selling proposition that sets them apart in the market.
- Coordinated Marketing Campaigns
Fashion distributors in Vietnam appreciate suppliers who are open to coordinating marketing campaigns. This can include joint promotions, discounts, or special offers that are mutually beneficial for both parties.
Coordinated marketing campaigns help increase brand exposure, attract new customers, and drive sales for both the distributor and the supplier.
- Events and Fashion Shows
Collaborating on events and fashion shows is another way for distributors and suppliers to showcase their products and generate buzz. They can collaborate on organizing fashion shows, participating in industry events, or hosting exclusive product launches.
The year 2023 marks the official development of SIXDO in the international fashion market.
These events provide an opportunity to engage with customers, media, and industry professionals, while also building brand awareness and credibility.
How to market your fashion brand in Vietnam
1. A localized website
Understand and respect the Vietnamese culture to tailor the website accordingly. Consider cultural sensitivities, preferences, and trends when designing and presenting content. Incorporate culturally relevant imagery, symbols, and references that resonate with the local audience.
2. KOLs
KOLs are seen as trusted sources of information and opinions by their followers. When a KOL endorses or promotes a fashion brand, it helps to enhance the brand’s credibility and build trust among consumers.
KOLs’ followers are more likely to trust and consider recommendations made by the influencers they follow, leading to increased brand reputation and authenticity.
3. Pr on Fashion Magazines
Fashion magazines have a wide readership and a dedicated audience interested in fashion trends and styles. By securing placements or features in fashion magazines, brands can gain significant exposure and reach a targeted audience.
Fashion magazines are considered authoritative sources in the industry. When a fashion brand is featured in reputable magazines, it adds credibility and builds trust among readers.
The endorsement from the magazine validates the brand’s quality, style, and relevance, leading to increased consumer confidence in the brand.
4. Promotion, Discount and Offers
Promotion discount offers can attract new customers who may have been hesitant to try the brand at full price. The allure of a discounted price can encourage new customers to give the brand a chance, potentially leading to repeat purchases and long-term customer loyalty.
5. Social Media Marketing
To effectively market fashion on social media platforms like Facebook, TikTok, and YouTube, consider the following strategies:
- Create a Facebook business page: Set up a dedicated business page for your fashion brand, complete with relevant information, high-quality visuals, and a clear call to action.
- Engaging content: Share a variety of content such as product photos, videos, behind-the-scenes footage, customer testimonials, and fashion tips. Experiment with different types of posts, including images, videos, and interactive content like polls or quizzes.
Tiktok
- Create engaging videos: Showcase your fashion products, create fashion hacks, participate in popular challenges, or collaborate with TikTok influencers to reach a wider audience.
- Use trending sounds and hashtags: Stay up-to-date with trending sounds, songs, and hashtags on TikTok. Incorporate them creatively into your videos to increase discoverability and engagement.
- Hashtag challenges: Launch branded hashtag challenges to encourage user participation. Encourage users to create videos using your branded hashtag and share their own fashion-related content or styling tips.
Youtube
- Create compelling video content: YouTube is a great platform for longer-form content, such as fashion lookbooks, styling tutorials, brand storytelling, or interviews with industry experts. Focus on providing valuable and informative content that resonates with your target audience.
- Collaborate with YouTubers: Partner with relevant YouTubers or fashion vloggers to feature your products or collaborate on video projects. Influencer endorsements and product reviews can help generate brand awareness and trust among viewers.
IN CONCLUSION
To summarize, by understanding the dynamics of the fashion market and adjusting their enter-the-market strategies accordingly, foreign brands can take advantage of the vast opportunities that Vietnam presents. By implementing the recommendations and tactics provided in this guide, foreign brands can increase their prospects for success and establish a significant presence in Vietnam’s thriving market.
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Don’t hesitate to connect with us and promote your brands in Vietnam!
