The Foreign Trade Promoter (PROCOMER) studied the Panamanian market of male and female clothing, shoes, handbags, jewelry and lingerie, to find business opportunities for Costa Ricans.
The study “Fashion and design industry in Panama and marketing strategies” stresses that women’s clothing is the most developed area in that market and the offer of products imported from the United States and Colombia is wide, which increases competition.
One of the business models detected is participating as boutiques suppliers, as well as establishing strategies such as dressing Panamanian public figures or using digital media such as blogs and social networks, mainly Instagram.
In this regard, PROCOMER identified that several Costa Rican designers’ participation in a Panamanian store would be a valuable opportunity to enter and position Costa Rican, design policy in Panama.
For instance, jewelery is booming, and although some of its brands are present in many boutiques, foreign supply is growing.
Whatever the chosen sector is, a real commitment is required to participate in the market.
PROCOMER stressed that despite Costa Rica has a positive image in Panama, the country is not seen as a fashion and design supplier. As a result, it is necessary to work hard to enter that industry.