Market Trends of Lingerie Industry
Growing Influence of Endorsements and Aggressive Marketing
In an age of diversity, companies are evolving their advertising and endorsement strategies across distribution channels to garner consumer attention. Celebrities endorsing or promoting products have increased drastically, helping brands build consumer trust and influence purchasing decisions. Consumers feel more sympathetic toward a brand if their products are promoted by a celebrity they admire or relate to. According to a study by the University of Arkansas in collaboration with the Manchester Business School in London, consumers between 18 and 24 years old actively develop their identities and appearance based on celebrities. They are more susceptible to celebrity brand endorsements than other age groups. As a result, brands are partnering with celebrities to endorse their products. For instance, in March 2023, Lingerie retailer Zivame launched its largest scale sale of the year, the 'Grand Lingerie Festival.' Bollywood celebrity Kriti Sanon endorsed the online sale event and featured over 50,000 styles.
Asia-Pacific is the Biggest Market for Lingerie
Asia-Pacific is the largest market for lingerie due to the growing penetration of e-commerce and rising disposable incomes. Moreover, with various popular brands entering the regional market with their online retailing websites and attractive discounts, the market is anticipated to witness higher growth in the coming years. For instance, in September 2023, the United States-based lingerie and lifestyle brand Victoria's Secret launched its women's lingerie and sleepwear ranges on its India e-commerce store to offer its entire product range to shoppers across India. Furthermore, manufacturers are introducing body-inclusive, sustainable variants for environmentally conscious consumers, especially millennials and the growing Generation Z population. Therefore, brands like "Inner Sense,' the flagship brand of Green Ideology, an organic cotton and bamboo fiber manufacturing company, claim to offer skin-friendly lingerie with unique fiber with natural anti-bacterial and anti-microbial properties. The brand claims to provide India's first premium organic anti-microbial lingerie. Such factors are expected further to boost the market growth during the forecast period.
