Already damaged by the rise of the 2019 pandemic, then the leak of garment production heavyweights to new markets, the clothing economy is today once again threatened within our Kingdom following the February 20 community outbreak. We are not under attack, we are simply asked to adapt, and fashion is about anticipating.
Our customers spending continue to decline and we know our local industry may take time to recover. Conversations between the Cambodian based brands are allowing us to understand that the general growth in sales fell by an average of 40 percentage points between mid-March 2020 and mid-March 2021. “Indoor” fashion categories however, such as pajamas and activewear, fared a little better but they are highly fragmented and lower margin, with limited differentiation across brands.
The fashion industry has repeatedly proven its ability to reinvent itself and adjust to where, what, and how consumers buy. We believe in Cambodia fashion sector’s long-term potential. colorblind is taking action to contain the risks across our retail, B to B and online activities. Our ability to keep moving in a bold and timely manner, will determine our capacity to emerge stronger from the crisis.
digital communication
We are accelerating our investments to enhance our digital presence and shift our in-shop spending to the online channels. These efforts primarily apply to your own website but also to partnerships with e-retailers or with partners that have stronger e-commerce businesses. We are shifting from brand building to customer activation, focusing on conversion, basket building, and repurchase triggers. Digital marketing will play a fundamental role in not only maintaining engagement and boosting online sales, but also enticing customers to reclaim their boutique once the current wave has been contained.
connections with customers
colorblind continues to engage consumers even if they are not spending. Our relationship goes beyond the act of purchasing, a wardrobe requires care and counsel. Because connected customers tend to become repeat customers, and repeat customers are vital to business success. Connected customers may not need to be enticed to come back, they come back because they want to. They may make more frequent purchases and become advocates for our business.
Elegance can bring comfort and joy in a disrupted time. Many times we have used our brand voice to speak-up, it's now time to forge a stronger community around us. Elegance is not only a card to play in strategic public appearances, it's an inherited value to which we must honor and transmit.