The garment and textile industry in Vietnam is expecting significant growth in the second half of this year, driven by rising orders and improving consumer demand.
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Vietnamese textiles and garments are subject to trade sanctions in Indonesia as the local textile industry struggles. The Việt Nam Trade Office advises businesses to monitor market conditions and prepare for potential measures.
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Vietnam reportedly surpasses China to lead the market share of textile-garment exports to the US during the first five months of this year.
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Retail Tech
Fashion brand Canifa records 54 per cent higher app conversation rate post CleverTap deployment
The implementation of CleverTap by Canifa yielded substantial benefits, including a 7 per cent boost in revenue per user, a 7 per cent increase in retention, a 50 per cent surge in conversion rate month-over-month, a 4 per cent rise in stickiness over a 60-day period, and a notable 20 per cent increase in retention rate.
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Holding a 12 per cent market share in Canada's imports, Vietnam attributes its success to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
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The logistics costs for containers traveling through Europe may increase by US $ 1,000 to US $ 2,000 due to Red Sea tensions.
