Press release
Lingerie Market: Online Stores Take over Global Market as they Offer Convenience of Shopping
Lingerie market has occupied a significant position in the apparel industry in recent years as it not only serves its functional benefits but also is considered as an basic necessity to every woman. The global lingerie market has been bifurcated on the basis of product types into bras, knickers and panties, lounge wear, shape wear and others which includes baby doll, corsets, chemises and chemisoles among others. Bra as an essential necessity and also a fashion accessory to every women and it has captured the largest market share in 2015. Knickers and panties also occupied a significant position in the same year, thus contributing significantly to the overall market size of the lingerie industry.The market is further segmented on the basis of distribution channel into online stores and storefront. Online stores captured the largest market in 2015 due to high penetration of internet services and rapid advancements in the field of technology, thus creating a strong platform for the manufacturers of lingerie Further, the e-commerce giants are engaged in strong promotional activities due to which they provide with continuous discount options and various other offers which attract both consumers and manufacturers to avail this platform.
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Availability of Broad Product Range to Fuel Growth of Lingerie Market
The global lingerie market is expected to grow at a steady pace due to the wide availability of these products. Today, lingerie can be bought online as well as through retail stores. With the help of accurate size charts and description lingerie can be purchased through online shopping with the option of exchanging or returning it if it does not fit. Thus, the convenience of shopping has also boosted the growth of the global market. Analysts state that the broad product range that suits every budget has also lured in bigger consumer base in the global lingerie market. Furthermore, continuous efforts to improve the materials used for making various types of lingerie, research and development, and strong branding have all favored the growth of the global market in recent years.
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On the basis of product types, the global lingerie market is segmented into bra, knickers and panties, loungewear, shape wear and others. The report indicates that the bra segment holds the biggest share in the global market due to its indispensable usage. The knickers and panties segment too is expected to make a significant contribution to the overall market as these are considered essential items of an attire as well.
Online Stores Take over Global Market as they Offer Convenience of Shopping
On the basis of distribution channel, the market is segmented into channel into online stores and storefront. Online stores dominated the global lingerie market in 2015 as they offer convenience, varieties, wide range of discounts, offers, and coupons. Online stores are gaining importance due to penetration of internet that provides a strong platform to the customers to make easy purchases. Further, the due to the rapid penetration of premium range of smart phones among the young population is expected to drive the e-commerce segment thereby promoting online retail.
Store front refer to shopping within supermarkets and hypermarkets and departmental and convenience stores. The emergence of online shopping and e-commerce is going to weigh down on this segment in both developing as well as developed countries. However, the adult female population that is not yet familiar with using technology for making purchases is expected to drive this segment in the coming years. A strong presence of a fashion-conscious female population is expected to drive this regional market in the near future.
Europe to Lead Global Market with Presence of Fashion-conscious Consumers
In terms of geography, the global lingerie market sprawls over regions such as Europe, North America, the Middle East and Africa, Latin America, and Asia Pacific. Analysts project that Europe is expected to lead the global lingerie market in the coming few years.
The key players operating in the global lingerie market are Jockey International Inc., Wisconsin, Hanes, Groupe Chantelle, LVMH, L Brands Inc., MAS Holdings Limited, Ann Summers, Marks and Spencer, and PVH Corporation among others.
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