Increased Smartphone Penetration to Boost the Global Online Lingerie Market Through 2020, Says Technavio

LONDON–(BUSINESS WIRE)–According to their latest report, Technavio
analysts expect the global
online lingerie market for 2016-2020 to exceed USD 58 billion by
2020, growing at a CAGR of over 17%.

According to Brijesh Kumar Choubey, lead research analyst at Technavio
for apparel
and textile research, “The US and Europe have been
driving the growth of the global online lingerie market to a great
extent. Brands such as Victoria’s Secret and Calvin Klein contribute a
significant portion of the market’s revenue, as consumers from countries
where the brick-and-mortar stores of these brands are not present
purchase lingerie through their online websites and other e-retailers.
Therefore, the upsurge of B2C e-commerce is expected to augment the
growth of this market during the forecast period.”

Technavio’s lead consumer
and retail market research analysts have identified the
following four factors that will drive the global online lingerie market:

• Increased smartphone penetration
• Growing e-commerce industry
• Price discounts and special offers
• Changing consumer preferences

Increased smartphone penetration

In 2015, nearly 28% of the global population used smartphones. The
e-commerce industry has benefitted significantly from this development,
and clothing and apparel are important categories that have propelled
the growth of the industry across regions.

The increasing penetration of mobile devices with Internet access has
presented vendors with an active platform to engage with consumers on
the go. In addition, consumers, especially women, get a sense of privacy
when shopping online while also getting access to a wide portfolio of
products.

The trend has caught the attention of multiple vendors across the globe,
including those in developing countries where changing lifestyle trends
have positioned lingerie as a product of regular purchase. Lingerie
vendors active online worldwide include Butterfly Collection, PVH,
Dreamwear, Hanes Brands (which include Bali, Hanes, Maidenform, and
Playtex), Jockey, and L Brands (which include La Senza and Victoria’s
Secret).

Growing e-commerce industry

The growing penetration of the Internet and online platforms has made
online purchasing of goods easier, more comfortable, and faster. In
2015, the global e-commerce market reached a value of USD 1.7 trillion,
a growth of 16% from 2014. This number suggests substantial growth
opportunities for online lingerie vendors.

The cost effectiveness of the online channel and the accessibility it
provides to an increased consumer base has spurred many vendors to start
selling their product lines online. In developed markets, e-commerce has
played a significant role in the purchase of lingerie products. In 2015,
the US e-commerce market accounted for more than 20% of the revenue in
the global e-commerce market, growing by over 15% between 2014 and 2015.

Price discounts and special offers

Unlike other categories of apparel, minimal discounts are offered on
lingerie in brick-and mortar-stores. However, this is not the case with
online retailing of lingerie. Many brands, including Victoria’s Secret,
provide special offers and price discounts exclusively on their online
platforms to attract consumers.

These companies also make a variety of coupons available. Consumers
receive product bundling options, and can take advantage of a wide range
of discounts, coupons, and offers, either from retailers or directly
from manufacturers.

Changing consumer preferences

Over the years, the perceptions of lingerie have changed. Women now buy
innerwear not only as a necessity but also as a fashion statement. From
fabric to strap type, everything is chosen with care. Certain types of
lingerie are also meant for use with specific outfits.

“As a result of the increasingly busy and hectic lifestyles of
consumers, they opt for the wide variety and convenience of on-the-go
shopping that online stores offer,” says Brijesh.

Browse Related Reports:

• Online
  Lingerie Market in India 2015-2019
• Online
  Lingerie Market in the US 2015-2019
• Intimate
  Wear Market in China 2015-2019

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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