Market Trends of South America Lingerie Industry
This section covers the major market trends shaping the South America Lingerie Market according to our research experts:
Increased Online Retail Adoption Facilitated Market Growth
E-commerce retail stores have grown in popularity among the vast majority of women who choose to buy lingerie through online sales channels because they offer ease of convenience, product information, size questionnaires, a greater variety of different brands, and a wider range of patterns and colors. With the increasing internet penetration in the region, many retailers are shifting toward online platforms to expand their networks. Further, to increase the availability of their products and reach more customers, lingerie producers have been working with a variety of distributors, including individual stores and supermarket chains like Walmart, Tesco, and Target, among others. For instance, As per the data published by the International Trade Association, Brazilian eCommerce increased by more than 40% in the first half of 2020 owing to the changing consumer preferences at the time of the pandemic.Thus, the penetration of e-commerce is actively propelling the expansion of the market under study and is anticipated to pick up steam throughout the projected period.
Inclination Towards Comfortable Fabric Augmented the Growth
The lingerie market is rapidly expanding as a result of various factors such as increased demand for sports bras, the introduction of comfortable and stretchable yet stylish materials for intimate wear, and athleisure inner-wear as a result of increased health consciousness and sports participation among consumers throughout the region, which is all contributing to the market's growth. Additionally, the incorporation of elastic laces and microfiber materials, along with developments in the market like laser cutting, seamless, model, and full t-shirt brassiere, is anticipated to cement the market's dominance during the beginning of the forecast period. Brands are moving toward sustainable and ethical business practices while being more open about the materials they use to make their products. This involves producing vegan brassieres utilizing animal cruelty-free substitutes such as fruit fiber, vegan textiles, and recycled products. However, several players have been focusing on offering trending products to expand their product portfolios by meeting the needs of a variety of consumers. For instance, in April 2020, Hope Lingerie launched a range of lingerie products made from biodegradable fabric in the Brazilian market. Hence, the South American lingerie market will have sufficient growth owing to the factors mentioned ablove. Thus, as a result of the aforementioned factors, the South American lingerie market will expand adequately.
