Tiruppur Exporters Association says they have observed heightened demand for budget-friendly garments this year. Basic T-shirts, priced at $2 per piece, are experiencing a surge in popularity, overshadowing demand for fashion garments priced between $8 and $20 per item. Even during Christmas and New Year season, apparel trade in the country has failed to witness the usual joy, mainly due to a slowdown in demand from the US and European markets.
As Raja Shanmugam, Managing Director of Warsaw International, both US and European markets are grappling with high inflation resulting from increased post-pandemic demand and supply chain disruptions amid the Russia-Ukraine war. KM Subramanian, President of the Tiruppur Exporters Association, notes demand during the Christmas and New Year seasons has declined almost 40 per cent. The smaller units within the industry have been particularly adversely affected by this downturn.
