Global online lingerie sales have soared in recent years – and the good news for ecommerce providers is that the market has nowhere near reached its ceiling yet.
According to a report published this week, the worldwide online market for lingerie is on course to record a compound annual growth rate of 17.5% between now and 2017.
The study, entitled ‘Global Online Lingerie Market 2017-2021’, has been prepared based on an in-depth market analysis with inputs from industry experts and tracks the performance of names such as PVH, L Brands, Maison Lejaby, Lise Charmel & Wolf Lingerie.
The latest trend gaining momentum in the market is the advent of subscription services, the report suggests.
“Over the past few years, several innovative pure-play online lingerie stores in the US, UK, and Australia have emerged. These new companies differ in terms of their offerings, customising products, and technologically advanced services that they use.
“One of the newest trends that is being followed by most pure-play online lingerie stores is subscription services that they offer their customers. Subscription services require consumers to pay a fixed monthly fee, against which products are shipped with one to three pairs of lingerie a month.”
The report notes that one of the major drivers for this market is the cost benefit for retailers operating in the online space as they aren’t restricted to shelf space like a conventional retailer.
“With online lingerie stores offering frequent discounts along with a wide range of stock, these stores also offer easy return and exchange policies, thereby attracting more consumers. Moreover, with increased number of working women and busy schedules, online lingerie stores are starting to act as a boon for women. This is because these stores have made access to essential personal care items, such as lingerie, easy. Basic necessities are being acquired with the least amount of exertion, making the experience all the more comfortable.”