Before the COVID–19 pandemic, the dressing gown market transformed a bunch. With the increasing number of online consumers, there is a heightening tendency among them to decide on more casual clothes and some are turning off from the intention of buying clothes that can merely be worn once or twice. We used to notice the usage of gowns at marriages in western countries.
Nevertheless, clothes are not being used simply in weddings but also in day-to-day life. In the marriages that took place during this epidemic, most of the brides are getting married by wearing alternative dresses instead of dressing gowns.
Surprisingly, the demand for dressing gowns in January-February 2021 has boosted significantly due to the demand of American buyers, which is a relatively satisfactory statement for the garments manufacturing country at this critical momentum.
The country imported US$ 80 million worth of dressing gowns in Jan-Feb. ’2021 duration, by showing 1.88 percent progress on a Y-o-Y basis. About 60 percent of this entire value was endorsed by China and Vietnam jointly. Nowadays, the leading exporters of dressing gowns to the United States are China, Vietnam, Colombia, Turkey, India, and Bangladesh. Among them, China is the vastest exporter of dressing gowns.
China has exported the dressing Gown of $ 35.84 million in January-February of this year, giving rise to 7.59 percent of the annual upswing. Which has tremendously boosted from the analysis of the previous year.
On the other hand, Vietnam was dominated as its shipment of the commodity declined massively by 40 percent to the US $ 12.77 million in the review period.
Following in line were Cambodia, Turkey, and India with a shipment value of US $ 9 million, the US $ 4.12 million, and the US $ 4.86 million. Respectively these three nations upped their respective exports of the dressing gown to the USA by 77.23 percent, 52.34 percent, and 8.54 percent on a Y-o-Y basis.
By analyzing data, it comes across that Bangladesh has significantly turned on tapping the dressing gown market of the USA and it has demonstrated 157.60 percent annual progress of its shipment in the Jan-Feb ’2021period, valuing the US$ 4.33 million, while it was the US $ 1.68 million in Jan-Feb. ’2020.
How can Bangladesh move towards the first row among the dressing gown exporter countries?
There is a massive opportunity for Bangladesh to take hold of the leading position in the dressing gown market. Bangladesh is working in the RMG sector for more than 35 years and has gathered a lot of familiarities to cope-up with the modern progression. So, by attaining evolution Bangladesh can come to be the top exporter country in this market too. It will be easy to take hold of this gigantic chance by assuming SWOT analysis.
Strength of Bangladesh’s RMG sector:
- Bangladesh maintains world-class textile Industries, so they can skillfully begin a branch for the production of dressing gowns.
- Bangladesh has already been established brand value.
- Considerably economical labor can provide a competitive advantage.
- Business growth in the USA.
- Adequate market segmentation of buyers.
- Thirst for innovation among designers.
- Generous adhesion benefits media coverage.
- Market demand for time-honored designed dresses.
- Extraordinary color segmentation enriches periodic sell.
- Foreign investors or organizations may obtain full working loans from
- Regional banks. (Bangladesh Bank)
Weakness of Bangladesh’s RMG sector:
- The inappropriate administrative chart following.
- Absence of market analysis and inspection before design and plan.
- No particular inventory control management.
- Improper forecasting of promotional allocation.
- Negative follow-up in the universal production procedure of the supplier.
- Shortage of Spontaneous R & D team for minimum lead-time production.
- No color diversification of design.
- Lack of specialized expertise and technological textile education.
- A mindset of using fewer resources on promotion.
- The financial penalty of shutting down outlet because of offensive facility location analysis.
- Inadequacy of forwarding and backward linkage.
Opportunities for Bangladesh’s RMG sector:
- Production quantity per design to enhance the business demand follows.
- Tremendous market capability in Bangladesh and throughout the world.
- Opportunity for additional foreign currency as dressing gowns are
highly-priced than traditional textiles.
- US withdrawal from Trans-Pacific Partnership (TPP) can be a silver
lining for Bangladesh to become a competitor in USA markets.
- Figuring out the unemployment trouble.
- Promising cooperation with celebrity and media people boosts to generate worldwide demand and prominence.
- Massive production suppliers in the textile sector are developing more rapidly.
Threats for Bangladesh’s RMG sector:
- Leading three competitors with their fusion and multicultural products as per market demand.
- People presently don’t think of brands in the absence of advertisements.
- Alternatively, this sector has considerable possibility. Industrialists are not interested in investments.
- Inadequacy of support to production suppliers may lead to them, other merchants.
- Low importance is conveying to the long-term advantages.
- Unavailability of research and development facilities.
- The government is not assuming any initiative.
- The absence of HR, IT, Inventory control and logistics direct to incompatible planning, follow-up and execution.