Social Media to Upsurge Belgian Clothing and Footwear Market: Ken Research

Ken Research has recently announced its latest publication “Clothing & Footwear Retailing in Belgium-Market Summary & Forecasts; Comprehensive overview of the market, consumer, and competitive context, with retail sales value and forecasts to 2020” which seeks to provide information about Key market trends of clothing and footwear industry of Belgium. It also gives Comprehensive analysis of economy of Belgium, key macroeconomic and consumer trends in market in forecast period (2015-20). It further provides global market Quantitative and qualitative analysis of all the segments of industry. Detailed discussion of leading domestic and players and their strategies are also included in the report.

Overview of clothing and footwear sector of Belgium

Being a strong nation of Europe, Belgium has shown remarkable comeback in European economy despite immense economic downturns in European and global economy. Manufacturing and service sector has shown amazing growth and expansion to bring out economy out of recession. Agriculture sector though has only a meagre contribution to economic growth but is performing well according to European standards.

Belgium’s culture and tradition has always admired fashionable clothing and footwear. This sector witnessed superb craftsmanship and extraordinary production skills which is improving even more in recent past. Not only sales of domestic firms is increasing but international brands who ventured into Belgian market also experienced overwhelming demand for clothing and footwear. JBC, Benetton Group S.p.A. Inditex and ZEB are the leading market players of the industry in Belgium. Sales in all the segments of industry i.e. men, women and kids is escalating but largest growth is observed in sales of women clothing and footwear retail. Industry is expected to experience compound annual growth rate of 1.79% in the forecast period.

Key drivers of demand in the sector

This significant expansion and expected growth in forecast period is demand-led. Consumers are increasing their demand for footwear and clothing due to the following reasons:

• Economic prosperity

Since Belgian economy has witnessed positive growth and rapid expansion in the recent past, it has contributed significantly to rising income of all the strata of society. This has led to massive rise in consumption demand in Belgium. Demand for luxury clothing and footwear brands is also extraordinary.

• Technological considerations

In this world of gizmos and gadgets smartphones and laptops are accessible to all. This has given a boost to online shopping laden to rapid increase in sales.

• Social media influence

With rising impact of social media fashion blogs are becoming immensely popular and it has huge effect on latest fashion trends which are changing every day. This is leading to rise in sales volume.

• New channels of sales and distribution

Earlier sale of clothing and footwear was limited to shops in local markets but now new modes of sales have been introduced which gained popularity really quickly. Online sales, sales in hypermarkets, supermarkets, specialized retail shops, luxury retail shops, etc. have been introduced which resulted in sky rocketing of sales in the sector.

Future of Belgian clothing and sales industry

It is quite evident that Belgian footwear and clothing industry will grow significantly in the forecast period. Retail sales in clothing sector is expected to rise in the forecast period and per capita spending on clothing is predicted to experience Compound annual growth rate of 1.14% by 2015-20. However, the market is expected to face the following challenges:

• Entry of numerous foreign players are driving local players out of market.
• Local players posing threat to small scale industries.
• Economic recession which is leading to demand deficiency.

For more coverage click on the link below:

https://www.kenresearch.com/consumer-products-and-retail/textile-apparel-and-footwear/clothing-footwear-retailing-belgium/37633-95.html

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https://www.kenresearch.com/consumer-products-and-retail/textile-apparel-and-footwear/clothing-footwear-retailing-denmark-market/8415-95.html

 Contact:

  Ken Research

  Ankur Gupta, Head Marketing & Communications

  query@kenresearch.com

   +91-124-4230204

Demand for chemicals is surpassing supply in Vietnam: Ken Research

The report titled “VIETNAM CHEMICALS STANDARD REPORT Q2/2016” provides a comprehensive review about the global and Vietnam chemical industry which includes Overall scenario of the global, regional, domestic economies, with America, China, and Germany described.

Chemicals are used for manufacturing various products.  It plays an important role in the economic development of the country. From 2010-2014, chemicals industry in Vietnam witnessed a high growth. Demand for chemicals is more than the supply in Vietnam thus it needs to import chemicals to fulfill the input requirement of chemicals for various industries.

Overview of Vietnam’s Chemical Industry

Chemicals industry is adding to the GDP growth. Chemicals industry registered high growth rate of 19.25% from 2010-2014. Vietnam’s exports are lower in comparison to imports due to out-dated technology in Vietnam but exports are expected to increase in the forecast period. Chemicals are ranked 11^th in the list of top imported items. Vietnam’s chemical industry is unable to supply input material to the various industries and imports most of it from China. There are various reason for the low productivity of chemicals. Vietnam does not have high end technological equipments. If we compare the technology in Vietnam with that of the other countries’, it’s far away in the line, thus the low productivity and need for imports.

 The top chemical companies in Vietnam are: Petro Vietnam Fertilizer and Chemicals Corporation (PVFCCO). It is awarded for the consecutively 4^th time as ‘Top 50 best listed companies in Vietnam’ and maintained outstanding growth in the challenging years. Company’s revenue in 2015 is VND 10,047 billion and profit after tax is VND 1.48 billion. The other competitor company is Petro Vietnam Ca Mau Fertilizer JSC. It manufactures and supplies granular urea in Vietnam. It also owns and operates plant with 8,00,000 tons of fertilizers. Binh Dien Fertilizer JSC is also considered as the top company. It is engaged in manufacturing and trading of agricultural chemicals. Company exports its products to other countries as well. Leading products are nitrogen-phosphorus-potassium (NPK) fertilizers.

Benefits of chemicals:

• Increases agricultural productivity
• Used as an input to various industries
• Helps in fruit ripening
• Used as preservatives

Key Drivers in Chemical Industry

• Demand and supply for chemicals
• Used in which product
• Technology
• Government regulations

Future of Commercial Real Estate Industry

Vietnam’s chemical industry is expected to grow at high rate in the coming years. Looking at the demand for chemicals, Vietnam will soon replace the outdated technology. Thus, there will be sufficient amount of chemicals to meet the domestic requirement of inputs and lower imports. This will improve Vietnam’s balance of payments and there will be low current account deficit which will improve the economic situation of the country.  Growth of various industries is associated with the growth of chemical industry because chemicals act as an input in production of various goods.

To know more on “Chemical industry report in Vietnam” click on following link:

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/vietnam-chemicals-standard/39449-101.html

Related links:

https://www.kenresearch.com/agriculture-and-animal-care/crop-protection/vietnam-fertilizer-standard/39448-104.html
https://www.kenresearch.com/agriculture-and-animal-care/crop-protection/vietnam-fertilizer-market-research-report/451-104.html

Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

Online Retail Sales in Belgium Electrical and Electronics Retail Market: Ken Research

Ken Research announced its latest publication on, “Electrical and Electronics Retailing in Belgium-Market Summary & Forecasts; Comprehensive overview of the market, consumer, and competitive context, with retail sales value and forecasts to 2020”, offer insights on the changing trends and key issues within the Electrical & Electronics Retail Market in Belgium.The publication includes an insightful analysis of changing consumer behavior, changing economic and demographic factors, technology innovations, leading domestic and international players, distribution channels and regulatory framework within which the Electrical & Electronics Retail Market in Belgium operates. The analysis of the aforementioned trends for major Electrical & Electronics categories:communication equipment, computer hardware and software, consumer electronics, household appliances, photographic equipment; for their sales through leading distribution channels such as Convenience Stores;Electrical & Electronics specialists;Hypermarkets, supermarkets and hard-discounters; Value, variety stores and general merchandise retailers; General retailers;Other Specialist retailers, Value retailers; Online; has been done from 2010 to 2020.

Economic Environment of Belgium

Belgium is a federal state with three culturally distinct regions: Flanders, Wallonia, and Brussels; with substantial economic power allotted to each of the regions. It is one of the highly industrialized countries in Europe. Except Luxembourg and Ireland, its economy is one of the most open economies of the world having strong integration with its three main neighbour countries: Germany, France, and the Netherlands. Brussels serving as headquarter of NATO & EU; makes Belgium a prominent member of EU, and also of OECD and WTO; thereby compensating the small size of the country by its substantial global position. After having contracted, currently, Belgium’s economy is recovering reaching 1.3% GDP growth rate both in 2014 and 2015 on account of increased exports and investments in Belgium.

Looking at the macroeconomic scenario of the country, Belgium is home to 11.2 million people. With USD 458.651 billion, Belgium’s economy globally ranks twenty-third as per nominal GDP and with USD 43,629, the global rank is seventeenth as per GDP per capita. The sector wise contribution to GDP includes approximately 73% from its strong & huge service sector employing most of its skilled workforce, followed by industry (25%) and agriculture (2%). Being poor in natural resources, imports are basically dominated by raw materials and processed for exports. Exports are dominated by electrical equipment, vehicles, diamonds, and chemicals and contribute to 80% of the GDP. The country provides for an open economy with low barriers to overall foreign trade and investment. Three-fourth of Belgium’s foreign trade is with other EU countries. Foreign investment in the country amounts to USD 4956.7 million. With low average unemployment and improving inflationary conditions, the business environment has become attractive for market players. However, red tapism as a disincentive to foreign investment, high public debt, uneven economic recovery along with structural weaknesses such as rigid labor market and high taxation, holds back the economy from growing at its full potential.

Brief Overview of the Electricals & Electronics Retail Market in Belgium

Gradually, the consumer lifestyle has become time-tight urging the need for convenient and fast electronic appliances. These electrical appliances have become part and parcel of consumers’ life and are present in various forms. They also play a vital role in the smooth functioning of industries and hence contribute to the economy. As a result, with improving macroeconomic environment all over the world and progressive advancement of technology through investment in R&D, the product base for electronic items have expanded to meet the surging demands; and this has led to a boom in the global electronic products market.

Unfortunately, economic contraction in Belgium has hit the Electrical & Electronics retail market badly. As a result, the market has witnessed significant slowdown. Belgians are highly fond of latest gadgets and smart devices. Still economic stagnation has led to reduced sales growth, especially in the case of premium & expensive electronics item. However, as the economic recovery has started, consumer confidence is boosting up. With growing GDP, rising disposable income & falling unemployment, the market outlook is optimistic.

Looking in detail within the Electrical & Electronics retail market in Belgium, the market holds a nominal share of the overall retail market. In 2015, it held a market share of 7.7%. Among various electronic items, consumer electronics and appliances have been the most demanded product.A mix of domestic and international retailers serves the Electrical & Electronics market demand.Also, the market is characterized by a high level of price-competition among market players to achieve maximum market penetration.Electrical and electronics specialists, accounting for 59.5% of the sales, dominate the distribution channels.However, with consumers turning to online channel, sales from offline stores have declined. Currently, online sales account for 23.7% of the total electrical and electronics sales and is progressively growing. As a result, the sales volume and value growth of Electrical and Electronics specialists have been negative.With the market players adopting business strategies such as EMI options and special occasional discount offers, electronic items are becoming affordable to every section of the society. This has further increased the demand and sale of electronic items. Hence, overall a bright and optimistic Electrical & Electronic retail environment is expected to prevail in coming years.

Major Players in Belgium’s Electrical & Electronics Retail Market

Demand in Belgium’s Electrical & Electronics market is served by a mix of domestic retailers and international retailers. A very few number of players operate in the market. Some of the major market players are:Collishop, Media Markt, Cool blue, Conrad and Redcoon.be.

Among various chain operators, Media Markt-Saturn is the market leader in value terms. There is a continuous price war among all the retailers which depresses their sales value growth. Apart from low pricing, EMI options and special occasional discount offers are also adopted as a strategy to capture largest market share.

Belgium’s Electrical & Electronics Retail Market Prospects

Belgium’s economic contraction led to declining sales of electronic items and hence a slowdown in the Electrical & Electronics Retail Market. This slowdown is expected to continue although with less momentum as the market is expected to witness increasing demand for electrical &electronic products on account of economic recovery leading to rising disposable income. The growth in demand is expected to post a CAGR of 1.56%, amounting to a value of EUR5.8 billion by 2020.Electrical & Electronics specialists will continue to dominate the distribution landscape. However, the channel will face strong competition from online channel as more and more consumers are turning to online spending with increasing m-commerce.Online spending is expected to post a CAGR of 7.48% over the forecast period, reaching a value of EUR1.8 billion by 2020. As a result of growing online sales, the sales volume and value growth of Electrical and Electronics specialists is expected to remain negative over the forecast period.

Overall the market is expected to expand, although at a slower rate. Some key factors driving growth in the market include: time-tight schedule of consumers, advance technology, increasing m-commerce and online spending, steadily growing economy,improving labour market& inflationary conditions, favourable demography etc. Maturity of the market and continuous price war among retailers may pose challenge to this growth.

Key Topics Covered in the Report

• Detailed profile of the Electrical & Electronics Retail Market in Belgium
• Consumer demographics, trends and behaviours
• Historic and forecast retail sales value & growth in Belgium’s Electrical & Electronics Market
• Key business requirement for operating in Belgium’s Electrical & Electronics retail market
• Analysis of impact of Internet & Technology on Belgium’s Electrical & Electronics Market
• Competitive landscape of the Belgium’s Electrical & Electronics market
• Analysis of key distribution channels of Belgium’s Electrical & Electronics retail market
• Regulatory framework applicable to Belgium’s Electrical & Electronicsretail market

To know more on coverage, click on the link below:

https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/electrical-electronics-retailing-belgium/37632-95.html

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Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

Singapore Travel and Tourism Sector Rise: Ken Research

Ken Research announced latest publication titled “Travel and Tourism in Singapore to 2020 “ provides detailed information on the country’s tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

Singapore indicated prodigious growth in travel and tourism industry which has led to inbound and outbound tourism rise in Singapore. Singapore Tourism Board is coming up with different schemes by investing in tourism promotion campaigns and foreign partnerships. The government of Singapore is providing funds for the future boost in the sector. Further, tourism industry is anticipated to expand between period 2016-2020 because of the investments by the private and the government sector.

Overview of Singapore’s Travel and Tourism Industry

Singapore has recorded an impartial growth in the promotion and expansion of tourism industry. The tourism industry was awfully hit by appreciation of the Singapore dollar in the period 2014-2015 causing reduction in the number of arrivals in the country. Since then Singapore Tourism Board is coming up with promotional activities to give a boost to the sector.

Further, in 2015 inbound tourism showed amazing growth, with number of trips increasing to 12.1 million from 9.2 million in 2010. The contribution of travel and tourism to Singapore GDP was S$38.48 billion in 2014. The contribution to total employment by tourism sector was recorded at 8.4% for the year 2014. Investment in the sector was observed at 18% of the total investment. The most favourite destination for Singapore travellers in 2015 was Malaysia, with 47.4% of total outbound trips. The domestic trips totalled 152,691 only in 2015 while there were 8.8 million outbound trips. India is one of the most important foreign source countries for Singapore. The year 2015 welcomed one million Indians to Singapore, showing a growth of 7.5% from 2014.

Key Driving Factors in Singapore Travel and Tourism Industry

A large number of factors led to a rise in travel and tourism industry in Singapore. One such factor is promotional activities both domestic and in foreign countries. Many promotional activities in tourism sector have been introduced since 2015. Thus, huge promotional and advertising methods with influencing capabilities have been promoted in and outside Singapore to witness a continuous growth in the tourism sector. Singapore Tourism Board schemes include foreign partnerships, such as with MasterCard and Alitrip.

Further, Singapore has amazing geographical location in Asia, which makes it one of the most popular tourism spot. Indonesia, China and India are the leading countries in the respective order to contribute to the Singapore tourism industry. In 2015, the number of arrivals plunged from countries like Japan, Indonesia, Malaysia and Australia because of strapping appreciation of the Singapore dollar against the currencies of respective countries. According to Singapore Tourism Board, India is considered one of the largest foreign source markets. The main driving factor for Indians to visit Singapore is leisure. One million Indian tourists ravelled to Singapore in 2015, showing a growth of 7.5% from 2014. In January 2016, Singapore Tourism Board launched a week-long road show in India’s major cities: Mumbai, Bangalore, New Delhi and Chennai to promote tourism. For future opportunities, the tourism industry in Singapore will get S$700 million over the coming five years by the government. Three crucial sectors in tourism are targeted for the purpose: cruises, technology and manpower.

Some of the key factors that have led to growth of travel and tourism industry in Singapore are:

• Promotional activities
• Foreign partnerships
• Government funds
• Rising middle income population

Future of Travel and Tourism Industry

Appreciating Singapore dollar is continuous threat to the travel and tourism industry of Singapore. Though Singapore has acquired benefit from the tourism industry due to increasing consumer spending but the country needs to take appropriate steps to face future issues. However, it is believed that Singapore will remain a top choice for travel and the is expected to grow at 6.56% pa till 2020. Rise in government investment in the sector and promotional activities would prevent the downfall of tourism industry. The total contribution of the sector to GDP is anticipated to increase to S$55 billion by 2020.

To know more on “Travel and Tourism in Singapore to 2020” click on following link:

https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-singapore-2020/32000-94.html

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Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

Cruise Industry Boosting Share in Singapore Tourism Market: Ken Research

• Singapore Tourism is forecasted to grow in coming years
• Government will provide S$700 million fund to boost key tourism factors like the cruise industry

Ken Research announced its latest publication on, “Travel and Tourism in Singapore to 2020” which provides a detailed analysis of the Singapore Tourism Industry. Category-wise coverage of different segments is also included in the report. In addition, the report provides appropriate understanding of tourism flows, expenditure, airline, hotel, car rental, and travel intermediaries industries.

Singapore tourism industry faced headwinds in the year 2014 due to global economic conditions and strong position of the Singapore dollar in the market. Singapore Tourism Board has a major role to play to boost the tourism sector in the country. Enormous growth was observed for the inbound tourism in Singapore during 2010-2015. Number of trips increased from 9.2 million to 12.1 million in 2015. Tourism promotion campaigns by the Singapore Tourism Board attributed to this huge growth. Indonesia, China and India are the leading countries in the respective order to contribute to the Singapore tourism industry. In 2015, the number of arrivals plunged from countries like Japan, Indonesia, Malaysia and Australia because of strapping appreciation of the Singapore dollar against the currencies of respective countries. Singapore Tourism Board is putting efforts to push inbound tourism growth like promotional activities, foreign partnerships, such as with MasterCard and Alitrip. A CAGR of 6.56% for inbound tourism is anticipated for the coming years till 2020.

Global Tourism Industry

Travel and tourism worldwide is forecasted to show strong growth than previous years. The year 2015 was marked with one of the slow growing year for the industry due to recession in few countries and slow economic growth in other regions. However, decrease in oil prices is anticipated to improve the sector. The industry’s contribution to the worldwide GDP is expected to increase by nearly 3.6% for the forecasted period.

Some trends driving the global tourism industry include:

• Increasing disposable income
• Stable economy
• Rising domestic consumer spending
• Government investments
• Promotional activities

Key Topics Covered in the Report:

• Detailed analysis of Singapore Travel and Tourism Industry
• Value and volume analysis for Singapore Travel and Tourism Market
• Historic and Forecast analysis
• Key issues and trends in the Tourism industry
• Visitor trend framework
• Analysis of mega-trends
• Profiling of new schemes launched in the Singapore Travel and Tourism Market

To know more on coverage, click on the link below:

https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-singapore-2020/32000-94.html

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https://www.kenresearch.com/media-and-entertainment/tourism/travel-tourism-malaysia-2020/31999-94.html

Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204