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Lingerie Market – Growth, Trends, Impact of COVID-19 and Forecast (2021)

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The global lingerie market was valued at USD 72,094. 49 million in 2020. The lingerie market is expected to register a CAGR of 7.79% during the forecast period (2021-2026). With most retail outlets closed and dressing room facilities limited, sales of lingerie in physical outlets have been significantly affected during the COVID pandemic.

New York, November 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Lingerie Market – Growth, Trends, COVID-19 Impact and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06179114/?utm_source=GNW
However, the demand for more work from home comfort outfits and senseless products via e-commerce has been demanding during the pandemic period. Sales of non-wired bras and bralettes increased by around 40% compared to 2019, according to e-merchant Figleaves. In the midst of the pandemic, shopping for lingerie has undergone a dramatic change. Before the pandemic, women chose to buy underwear from physical stores where they could see, touch, smell, and in some cases even opt for testing. However, due to the COVID-19 outbreak and mandatory lockdowns, customers have been forced to stay indoors, triggering a change in their buying behavior. In the pandemic scenario, women resorted to purchasing their underwear on e-commerce platforms that offered various designs with good discounts and home delivery. This option also provided them with better privacy. The convenience factor while working from home has also catalyzed the sale of lingerie online. Additionally, social media has helped consumers understand the importance of self-hygiene and the benefits of good quality lingerie. With millions of women working from home, they have opted for comfort and personal care.

In the medium term, the change in outlook on underwear and lingerie, from a necessity to fashion products in order to complement a toned body, is a major factor in the demand for fashionable and trendy lingerie. The increasing availability of a wide range of products in multiple designs for various purposes, such as sports, bridal wear and regular wear, has also boosted the global market. In recent years, social and cultural movements, such as body positivity, inclusiveness, sustainability and diversity have had a big impact on the lingerie market. In addition, the demand for seamless and one-piece underwear with a natural look is increasing among consumers, further fueling the growth of the market. For example, manufacturers such as Jockey, Enamor, Amante and Hunkemoller offer, among others, seamless bras, panties, bodysuits and briefs. The inclusion of a wide range of colors, finish applications and fabric design is another positive change in consumer buying behavior for lingerie. Additionally, lingerie makers have collaborated with several distributors, including supermarket chains like Walmart, Tesco, and Target. , among others, and independent retailers to expand the availability of their products and reach more consumers. An increasing number of lingerie brands are using various models of various body types and unretouched photographs.

Key market trends

Increased penetration of organized retail which drives demand for lingerie

The development of the retail trade is marked by the emergence of numerous hypermarket / supermarket stores, specialized formats and online lingerie sales. Comfort and convenience are becoming more and more important to customers due to their hectic lifestyles and work schedules. Large organized retail stores stock various brands and variety of lingerie clothing including bras, briefs, etc., under one roof, providing more options for consumers. These stores also offer other intimate clothing to meet the demands of buyers. With the increase in the preference for branded products among consumers, the importance of organized retailers offering branded lingerie clothing has also increased.

Additionally, lingerie brands like Adore Me and Brayola are leveraging technological advancements to deliver unparalleled shopping experiences using artificial intelligence to gain deeper insights into consumer behavior and deliver personalized experiences. to buyers. Thus, the penetration of organized retail will allow consumers to research information on different brands, compare prices and quality, resulting in a better purchasing decision.

Largest lingerie consumer base in North America

Padded bras are the most important style (the fourth most invested bra form in the United States) on the market today, particularly in the United States. However, retailers should be careful not to invest too heavily, as the number of padded bra styles in stock is down 36% in 2019, compared to two years ago. According to statistics provided by the CUUP Company, 66% of women in the United States wear a size D cup or a larger size bra. So, launching bras in this size in different styles, such as push up bras, bralettes and other types, is expected to help market players gain competitive advantage. For example, in 2017, a UK-based lingerie retailer Bravissimo entered the US lingerie market with the launch of its first website in the US, and in 2019 it opened its first US Bravissimo store in New York. The brand offers a wide range of DL cup bras, for women with generous breasts. Despite some novelty spikes in the market, push-up continues to decline compared to triangle bralettes, which are more stable investments. As consumers continue to respond to this change, the number of bralettes sold in 2019 eclipsed push-ups by 16% in the United States alone. Thus, companies are constantly innovating with the changing needs of customers. Everlane’s (an American clothing retailer) launched the wire-less bralette in 2019, followed by four different underwear styles, namely thong, bikini, hipster, and high waist hipster.

Competitive landscape

The market is a competitive market with the presence of global players such as L Brands Inc., Jockey and Triumph International and a number of regional players such as Amante and Enamor. Major players are embarking on industry consolidation by entering into deals or acquiring leading domestic companies, which has intensified the competitive rivalry. Actors have leveraged the power of artificial intelligence (AI) to deliver personalized services that make consumers feel like they are consulting an in-store lingerie expert from the comfort of their own homes. These services include online consultations, size tests, selection of fabrics and patterns, comments and surveys. In addition, the major players have focused on seizing the opportunities offered by innovation in the market to expand their product portfolios so that they can meet the demands of various product segments, especially in the category of styles of fluid lingerie and including the size, as well as to produce lingerie pieces that combine fashion and comfort, while giving consumers confidence

Additional benefits:

– The market estimate sheet (ME) in Excel format
– 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06179114/?utm_source=GNW

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