apparel News & Analysis
2 articles
Market Mood
Bangladesh's Apparel Exports Decline 3.41% Amid Economic Challenges
The BGMEA reported a 3.41% decline in garment export earnings and a 1.55% decrease in average unit prices due to global economic slowdown and rising domestic costs. Around 400 factories have closed in Bangladesh over the past three years, prompting calls for policy support to maintain competitiveness in the apparel industry. The government's new budget targets a 6.5% growth rate while emphasizing long-term stability and development across various sectors. The BGMEA advocates for reductions in taxes and import duties to support the Ready-Made Garment (RMG) industry, crucial for employment and foreign exchange earnings.
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GLP-1 Users Driving Retail Clothing Demand as Weight Loss Grows
Over 600,000 prescriptions for Novo Nordisk's Wegovy (NVO) were written by February 2023, indicating increased demand for weight loss drugs. Currently, nearly 13% of U.S. adults are on a GLP-1 medication, with adoption rates increasing from 11% in November 2024 to 16% in November 2025. Retailers are reporting a rise in customers seeking new clothing due to weight loss, with specific interest noted by services like Stitch Fix. Analysts predict that as accessibility improves, consumer spending on apparel is expected to grow significantly, particularly for smaller sizes.
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