-- Global Lingerie Industry
Flattering and beautifully designed lingerie has an explicit effect on the mind and body. Lingerie enhances the shape of the body. The evolving retail lingerie business is marked by the emergence of numerous stores in supermarkets, hypermarkets, and general stores. Convenience and comfort of shopping are increasingly being crucial to consumers because of their hectic work schedule and busy lifestyles. Large retail stores stock numerous brands and varieties of lingerie wear including bras, briefs, bralettes, etc.under one roof, offering a wide range of options to consumers.
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These stores also offer other intimate apparel to fulfill the demands of consumers. With the rise in preference for branded and premium products among consumers, the significance of organized retailers carrying branded lingerie wear has also improved. Global Lingerie Market is forecasted to prosper at a considerable rate during the forecast period. Factors like changing consumer demands & preferences, improving brand awareness, and a rising number of online retail stores are anticipated to drive the global lingerie market during the forecast period. Moreover, consumers are concentrating on style quotient and enhanced comfort offered by the products. This is one of the major factors driving the lingerie market.
The leading market players are embarking on collaborations, mergers, and acquisitions as one of their primary strategies to attain consolidation and optimize their product offerings. A few global manufacturers have merged with local retailers to lead the local markets. Organizations are differentiating their products in terms of offerings, material, size, comfort, packaging, and design, in order to gain competitive benefit. Organizations are also utilising digital and social media marketing strategies to make consumers aware of brand offerings and new product launches.
Market Segmentation
The global lingerie market can be analyzed on the basis of leading market players, major product types, regional markets, and the sales channel. Based on the product types, the lingerie market can be segmented into Knickers & Panties, bras, loungewear, briefs, shapewear, and intimate apparel. Bras and briefs are the most common products used by women across the world. Based on the sales channel, the lingerie market can be segmented into online stores and storefronts. The storefront segment can be further divided into supermarkets, supermarkets, and convenience stores. The leading brands are offering attractive deals and huge discounts on online lingerie purchases. This is done in order to improve customer relationship and promote their offerings over the online platform.
Region Analysis
North America, Europe, Southeast Asia, and the Asia Pacific are the major regions driving the lingerie market. Presently, Europe and the United States are dominating the global lingerie market. The growth of these regions can be attributed to the existence of well-established market players, increased product innovation, enhanced R&D activities and constantly improving initiatives to enhance sales. Being a common requirement of every woman, the demand for lingerie is expected to boost exponentially throughout the globe. Germany, France, and Russia are the dominant lingerie markets of the European region. The penetration of organized retail stores, across the world, will enable customers to explore several brands, product quality, and compare prices, which leads to a better purchase decision.
Important Facts
Walmart acquired Bare Necessities, a company whose product quality and extremely affordable price range have made it an instant hit amongst Walmart’s huge consumer base. Organizations in the global lingerie market are now increasing their investments in R&D activities, marketing, and expanding their distribution channels to retain their position in the global market.
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