When you consider successful business ventures, you might often think of technology and software. However, the fashion industry can also be incredibly lucrative in its own right. Within this, you may want to think about the lingerie market. Not only is this currently booming, but it can also be an incredibly important part of a woman’s life. Therefore, having good quality lingerie could make a difference to a person’s ability to do their jobs, engage in leisure activities, and even retain good posture.
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There are several reasons why the lingerie market is currently expanding so much.
Firstly, you may need to consider the needs of a woman. When you initially think of lingerie, you may imagine boudoir pieces that are created with their partner in mind. While a woman may appreciate looking, and feeling, sensual, this might not be necessary for her daily life. David Spector, ThirdLove, listened to the concerns of his wife, as well as other women that were surveyed, to figure out some of the issues that they faced when lingerie shopping. This allowed them to create products in half sizes, to better meet a woman’s needs.
By ignoring the traditional bra sizes and instead being innovative and listening to the issues that real women face, Spector was able to lead his company to success, gain profits, and increase demand in his market.
Another reason for the boom in the lingerie market is celebrity involvement. A number of well-known, high-profile celebrities have created their own lingerie brands or collaborations in recent years.
A lot of the time, an influencer’s fans may purchase items simply because they have seen their idol advertise, create, or use them. Therefore, by associating their name with a product, this could help it to generate a larger number of purchases. It can be especially important for fans to see celebrities like Rihanna creating their own line so that women of color feel more represented and seen within the world of fashion.
It isn’t just ethnicity that can be important in representation. Another reason that the lingerie market may be booming could be due to the increased support for transgender individuals. There may also be a demand for lingerie items suitable for transgender women, both pre and post-surgery. A company that is more inclusive of the varying needs of its consumers may not only be able to drive up sales but also earn more positive feedback and recognition from doing so.
Likewise, transgender men, particularly those who are yet to undergo surgery, may also require undergarments to safely bind or reduce the appearance of breasts in a safe and comfortable manner. Considering these needs could allow these members of society to feel better represented and spoken for.
The lingerie market can be about more than simply making a person look sexy. It may help with sports, working life, and even helping minorities to feel like they are being heard. When companies pay attention to these needs, it is no wonder that the market is thriving.