Empowering Women: Rise in Employment and Economic Independence
The global lingerie market is witnessing substantial growth propelled by the increasing participation of women in various business sectors. Economic empowerment initiatives by governments worldwide, such as the American Rescue Plan, have contributed to the expansion of women’s employment opportunities. This surge in employment has resulted in a higher disposable income for women, influencing their buying habits and preferences. Modern women, acknowledging lingerie as a fashion accessory, are opting for more comfortable and functional innerwear, thereby driving the demand for upscale and innovative products.
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Changing Retail Landscape: Online Dominance and Offline Confidence
The expansion of the lingerie market is closely linked to the changing retail landscape. Online stores have emerged as dominant players, offering convenience, a wide range of products, and exclusive discounts. The accessibility of international brands and the privacy factor for conservative consumers contribute to the increasing preference for online channels. However, the offline segment remains substantial, with manufacturers targeting diverse consumer segments. This offline confidence is attributed to manufacturers introducing different brands catering to consumers uncomfortable with online purchases. The dual growth of online dominance and offline confidence is reshaping the overall retail dynamics of the lingerie market.