Retail Rankings 2021: End of Lockdown Stokes Consumer Demand for Fashion Brands
Over the last few months, as lockdowns and social distancing kept people at home, consumer demand for fashion saw a significant fall.
While spending on essential goods like groceries and toiletries rose during the pandemic, over half of people spent less on clothing online during the later stages of the fourth wave. That figure rises to almost two-thirds for in-store fashion retail during this time.
However, now that lockdowns have begun to lift, fashion brands are bracing themselves to welcome back the consumers who will soon go back to offices, coffee shops, and restaurants across Vietnam. Since restrictions have started to ease, queues have been forming outside stores and malls as shoppers look to refresh their wardrobe ahead of normal life resuming.
But which fashion brands are set to gain most from this return to retail? To find out, we asked a panel of people for their perceptions of some of the biggest labels as part of the first-ever YouGov Retail Rankings. Just under a thousand consumers took part, revealing the fashion retailers who are most trusted, valued, and recommended.
Vietnamese brands out in front
Local footwear brand Biti’s tops the table with an aggregate score of 33.8. Vietnamese fashion retailer Viettin comes a close second, with a score of 31.1. These two domestic brands are far ahead of the rest of the field, with US denim label Levi’s almost ten points behind in third place on 20.9 points.
These rankings are based on six unique metrics which make up the YouGov BrandIndex. Consumers rate each brand on factors such as value, impression, and reputation; with the average of these making up their overall brand health score.
While Vietnamese fashion retailers dominate the top two spots, international fashion labels remain popular with local consumers. Foreign brands such as Zara (4th), Uniqlo (5th), Triumph (7th), H&M (8th), and Mango (10th) make up over half of the rankings. Meanwhile, two other Vietnamese retailers (An Phuoc and Canifa) cracked the top-ten, suggesting that the market remains ripe for international fashion houses and also competitive for local labels.
YouGov also measured which brands have become more popular with consumers. Japanese casual fashion brand Uniqlo is the ‘biggest improver’, rising 3.5 points over the last 12 months. Biti’s takes second place with an increase of 2.9 points, just ahead of Spanish apparel retailer Zara which saw a rise of 1.5 points. With positive trends in their brand health, these labels should be in a strong position to capitalise on the resurgence in retail.
Retailers set to rebound and recover
So the prospects look bright for fashion labels as Vietnam continues to ease pandemic restrictions. However, the last few months have taught us that the retail landscape can change overnight. Consumer spending is now less predictable than ever. And the shift from in-store to online retail looks set to continue, even without social distancing in the future. So brands need to be more agile as a result.
YouGov tracks changing consumer attitudes and spending habits to give companies in-depth insights into these fast-moving retail trends through tools like BrandIndex. Now, as Vietnam enters a ‘new normal’, our team can help brands react and respond in real-time to customer preferences and spending habits. To find out more about the YouGov Retail Rankings, or our BrandIndex platform, just get in touch with us.
The brands in YouGov Retail Rankings were ranked based on their Index score, which is a measure of overall brand health calculated by taking the average of Impression, Quality, Value, Satisfaction, Recommend and Reputation over a period of 12 months.
The rankings chart shows the brands with the highest average index score between 1st September 2020 and 31st August 2021. The improver chart ranks the brands with the highest increase in Index, comparing scores from the previous 12-month period. To be included in the improver list, the variance must be positive. The scores are representative of Vietnam's online population of adults 18+.
With operations in the UK, North America, Mainland Europe, the Nordics, the Middle East, and Asia Pacific, YouGov BrandIndex draws data from million of interviews across different sectors in the global market.