The global Luxury Lingerie market was valued at $10.90 billion in 2021 and is expected to reach $19.50 billion in 2029 at a CAGR of 8.59% per year.
LOS ANGELES, CALIFORNIA, USA, March 2, 2023 /EINPresswire.com/ — Global Luxury Lingerie Market Overview
Luxury undergarments are outfits made to be worn under other clothes. It can be categorized as nightwear, underwear, or sleepwear, among other things. Clothing worn to bed is referred to as sleepwear, and it frequently has a robe or dressing gown attached. Undergarments are garments that are worn beneath other clothing and frequently have a lower cut to highlight the breasts. Clothing that is worn at night is known as nightwear, and it typically features an open back to allow the skin to breathe.
There has been an increase in demand for upscale underwear worldwide. Luxury underwear still has a market despite the recession. The direction of this market, however, remains unclear. This is due to a number of factors. First, people are paying closer attention to their budgets. They are looking for methods to cut costs and are less inclined to spend money on items they do not consider to be necessities. Second, many consumers are picking less expensive underwear brands over more expensive ones. Thirdly, more people than ever before are making their underwear out of synthetic materials.
Market Segment and Regional Analysis
There are numerous varieties of luxury underwear, each having advantages and disadvantages of its own. Bras: By supporting and stabilizing the breasts, bras can help people feel more comfortable wearing them. Additionally, they can improve bust size and form. Bras are a need for some women in their daily lives. Underwear: Knickers are intended to be used with skirts or pants. Panties: Panties are made to cover and offer warmth. They can also provide defense against dangerous germs and fungi. Bodysuit: Bodysuits are created to offer benefits for warmth, protection, and styling. Leg Garters: Leg garters are intended to lessen skin abrasion during intercourse.
Every woman needs some high-end underwear in her closet. Sales can be made offline and online using it. When a customer visits a store to purchase lingerie, that is considered an offline transaction. When a customer buys lingerie online, there is an online sale. Although offline sales are more frequent than online sales, they do have some drawbacks. First, compared to online sales, offline sales can be less covert. Customers may be more likely to talk about the lingerie with others as a result. Second, compared to online sales, traditional sales may be less safe. Customers might not be as well protected by an online platform’s privacy protections. Third, wait times for offline sales are typically longer than those for internet sales. As a result, shoppers might have to wait longer to get the chance to buy the underwear they want.
Luxury underwear has significantly increased in appeal throughout Asia and the Pacific. This occurs as a result of the expanding middle class and the need for luxury goods of the highest caliber. Luxury lingerie is also expanding significantly throughout Europe. The high-income population’s greater purchasing power is to blame for this. Luxury lingerie is also on the increase in North America and South America. This is a result of personal clothing becoming more and more popular, particularly among women in such areas. Because there are more wealthy women there, the Middle East and Africa are also experiencing an increase in the sale of upscale underwear.
Prominent Key Players of the Luxury Lingerie Market
The market is being pushed by an increase in the female population and consumer disposable income. Agent Provocateur, Honey Birdette, Savage&Fenty, MarieMur, Skims, Third Love, Adore Me, Lounge Underwear, La Perla, Fleur du Mal, Coco de Mer, Cosabella, Bordelle, Pleasurements, and Cup are a few of the major brands in the world’s luxury lingerie market. These businesses are concentrating on developing cutting-edge products and broadening their geographic distribution networks. Additionally, they are concentrating on enhancing client loyalty and brand value.
Key Market Segments Table: Luxury Lingerie Market
Based on types, the Luxury Lingerie market is primarily split into:
• Knickers and Panties
• Leg Garters
Based on applications, the Luxury Lingerie market covers:
• Offline Sales
• Online Sales
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data, and forecast of the following regions are covered:
• Asia Pacific
• North America
• South America
• Middle East And Africa
Analysis of the impact of the COVID-19
The “luxury lingerie market” has been significantly impacted by the COVID-19 outbreak. The number of people shopping at lingerie stores has almost halved, which has caused a drop in sales. The reason for this is that, during the winter, when the virus is most prevalent, people typically spend more money. Due to incidents of robberies and assaults against lingerie store employees, customer confidence has deteriorated. Nevertheless, despite these challenges, some upscale underwear brands are nevertheless responding well to the pandemic. Lingerie businesses are now offering larger discounts and free gift cards to entice customers into their stores.
Key Drivers & barriers in the Luxury Lingerie Market
Several difficulties are currently plaguing the “Luxury Lingerie” sector. The most notable of these is the rise in athleisure fashion, which has reduced the market for underwear. The global financial crisis has also reduced consumer expenditure on luxury goods. This has had a particularly negative effect on the lingerie sector since women have been hesitant to spend money on items that are regarded as unnecessary. Some businesses are still succeeding in this cutthroat market, though. One illustration is Agent Provocateur, which has maintained its position by appealing to a specific clientele and by developing novel items.
Key Benefits for Industry Participants & Stakeholders:
• Some claim that ladies feel their best when they are wearing simple, functional attire. Others claim that it is a piece of jewellery that exudes
sophistication and elegance. Whatever the reason, a lot of people prefer wearing expensive underwear.
• The market for Luxury Lingerie s is expected to grow in the next few years.
Following is the list of TOC for the Luxury Lingerie Market:
• Report Overview
• Study Scope and Definition
• Key Market Segments
• Market Analysis by Type
• Market by Application
• Study Objectives
• Luxury Lingerie Growth by Region
• Luxury Lingerie Market Dynamics
• Covid-19 Impact: Global Major Government Policy
• Global Luxury Lingerie Market Trends and Growth Strategy
• Global Luxury Lingerie Market Player’s Profiles
• Global Luxury Lingerie Market Barriers
• Benefits for Industry Participants
Why is a Luxury Lingerie Market Research Report so Important?
• The study offers market entry and business expansion strategies for both established and up-and-coming Luxury Lingerie enterprises.
• Additionally, it offers a strategic analysis of the top Luxury Lingerie suppliers.
• As a result of technological developments, the global market for Luxury Lingerie is expanding.
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