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Lingerie has come a long way, from being a story that should be kept hidden, to a brazen statement of freedom and progress. And the purchase of lingerie has gone through a sea of change, too. Gone are the days when women were conscious of revealing their body. Today’s women have embraced their feminine power. They want their curves enhanced in a way that it makes them look more attractive and comfortable at the same time.
Innovation-oriented Growth In The Segment
The lingerie market is witnessing trends in terms of fabric design, finish application, introduction of wider colour choices and fitting. These factors have led to innovation-oriented growth in the segment.
Women’s lingerie segment is varying vast as it comprises of various product categories like – bras, camisoles, panties, tees, nightdresses, shorts, etc. Bras and panties contribute 85 per cent of the total women’s lingerie segment. In 2015, this segment was estimated to be worth Rs 14,389 crore and is expected to reach Rs 28,941 crores by 2020.
Digitization Improving Prospects Of Lingerie Market
Shopping for lingerie can be very annoying in India, says Vanita Sharma, a 32-year-old Mumbai resident. Besides the lack of good brands, not many standalone shops sell lingerie.
The few which do don’t have a wide range. There are very few stores in metros and practically none in smaller towns which cater to this need. This has got more women searching for products online.
There is less inhibition in buying intimate wear online. Women are also becoming aware that the right lingerie makes a dress look great.
With the growing online ecosystem in the country, the prospects for lingerie market are also enhancing at a rapid pace. Today, a wide range of international and private labels are available on a single platform.
Men Emerging As Significant Buyers Online
Not only women, online aggregators are also providing a great help to the men. Most men hesitate to enter a lingerie store, but online, men are emerging as significant buyers of women's undergarments, thanks to the anonymity it provides. As per online lingerie platforms, around 25% of its buyers on average are men. The figure touches almost 40% during the November to February period — the wedding season in many parts of the country, and hence also the wedding anniversary season.
Influx Of Luxury Brands
Lingerie today has become a brand and has quietly slipped into the extravagance bracket. Back then, selling lingerie for Rs 1,000 was a big task whereas now, consumers are ready to accept even Rs 1,500 as a price point.
Increasing awareness about right quality and the importance of lingerie along with the western influence and the influx of more and more luxury brands has added to this.
In-fact according to Technavio’s report the online lingerie market in India to grow at a CAGR of 42.32% over the period 2014-2019 and new colours, designs and cuts will rule the roost in coming years.