Mintel Academic
From the chart below we can see than non-specialists are dominating the underwear and lingerie market at the minute, this still means that the specialists are important but suggests that people are buying underwear by convince and not as cautious about where they buy their underwear from.
Competition:
We can also see M&S is the biggest individual retailer in terms of underwear sales. Despite it being a supermarket and food focused it has been dominating owning over 20% compared to other retailers. One of their best profits coming from collars with Celebrity as they said in 2017 around 1 in 50 women in the UK owned a piece of this collection and sold over 11 million products over the 5 years since being launched. Their position in the market however seems to be struggling due to the rise in social media giving a bigger platform for online and up to date brands. We need to take into consideration when comparing these brands that they are aimed at different age ranges. (Find out M&S age range)
Victoria's Secret UK vs US
-VS is a declining brand and struggling with its 90's strategy of selling underwear. They are dealing in the US with their parent brand L brands having a 3% decline compared to 2017 in the US. However, this doesn't seem to be the case with UK consumers. Companies house said that VS sales have increased a huge 24.3% in the UK making that £132 million in 2016. They are expected to rise as they open new shops in the UK and widen their brand to consumers in different locations. Sales have risen by 3% year on year by the first quarter which was reported in MAY 2018.
Boux Avenue: They are a growing brand as they increased sales by 11.2% and £49.4 million by April 2017 and like for like sales were increased by 7%. They however as well as VS have seen the impact of online consumerism and the decline in brick and mortar. In six weeks up to December 2017 they had a 2.8% decrease in sales like for like. Many other lingerie retailers will have been impacted by the lack of footfall on the high street and an increase in online shopping.
LoveHoney: LoveHoney is an online retailer has seen a 28.7% increase in sales to £72.8 million in March 2017. 1/3 of this is essayed to be from lingerie sales and seem to be a growing part of the brand especially in the UK. The UK hold 2/3 of the brands revenue in March 2017. Its good to note that they are an online only brand and seem to be moving in time with the consumer and digital world. As High streets decline, online retailers have bigger platforms and are performing better in the lingerie market. As I was doing my own research into the brand, I can see they have plenty of plus-size models included in their branding and lingerie market, this suggests they are branching out to a wider audience and being inclusive. This could have been part of their growth over the past few years as this is what consumers want.
Premium brands and their struggle:
From the table below, I can conclude that higher end lingerie brand are struggling to grow and have declined in sales over the past few years. Rigby and Peller have shown a huge decline in revenue from 2012-2017. I can conclude from this that consumers may not be as willing to spend huge amounts of money on their lingerie. This also may be a big reason why consumers have turned away from lingerie specialists and the clothing retailer market in the underwear business is growing. However, Victoria's Secret have seen increase after increase year on year according to this table which suggests their is still a huge business in the lingerie market, especially for a well known brand such as VS.
From the chart below you can see the growth in UK VS stores, however this has slowed down as from 2013-2014 the figure had doubled but this wasn't the case in more recent years. Ann Summers stores have seen a loss in high street as they have had brick and mortar decline from 2017-2018. The higher end brands have again, seen a huge decline in stores in the UK. This suggests a change in consumer habits in terms of choosing to online shop rather than going on the high street for their underwear.
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