The lingerie industry is growing steadily year by year. In 2024, demand in the lingerie market is expected to increase at a CAGR (compound annual growth rate) of 5.80% from 2024 to 2034, according to Future Market Insights. This growth is largely, driven by societal movements towards inclusivity and diversity.
But all of this growth doesn’t mean the lingerie industry isn’t expected to have challenges this year. Global Newswire reports that lingerie stores in 2024 face a fluctuating landscape shaped by not only consumer preferences, but also technological advancements, and evolving societal norms.
Luckily, we’ve done the hard work for you and outlined some of the top challenges today’s lingerie stores—and how to combat them.
Five trends in the lingerie industry for 2024
Before we can understand what challenges lingerie store owners will face, we first have to know what trends are emerging in the lingerie industry at large.
Here are five that are becoming major themes among lingerie owners and consumers alike.
1. Inclusivity and diversity
First up, there’s a growing emphasis on inclusivity and diversity within the lingerie industry. Finding pieces that fit a wide range of body types, advertising that features women of color, and supporting women-owned businesses are all becoming more and more important for lingerie consumers.
This requires going the extra mile in further research and development to keep up with the diverse range of preferences and sizes. It's essential for lingerie stores to understand and cater to each of these various needs of consumers if they want to succeed.
2. Online Dominance
Traditional brick-and-mortar stores are facing strong competition from online stores. Online shopping for lingerie has e become more popular as more consumers prioritize convenience and privacy in their shopping experience.
As retail stores enhance their online presence—and put significant efforts into making their stores welcoming—they'll better meet the needs of today’s types of customers.
3. Sustainability and ethical practices
Next, interest in both ethical business practices and sustainable ways to care for the earth is becoming an important value for many consumers in the places they shop.
Be sure to prioritize ethical sourcing, producing environmentally friendly materials, and supporting fair labor practices. Know where and what's happening to your products.
4. Customization and personalization
The opportunity to personalize a product in the lingerie industry is a key trend among consumers in the market. After all, no two bodies are exactly alike. So the more personal, the better.
Stores can provide a personalized shopping experience through customization options with fittings, tailorings, and an extensive selection in colors, styles, and materials. But personalization doesn’t stop at your products. Today’s consumers also want personalized offers and communication from brands.
5. Technological innovations
Technological advancements are being adapted into every industry, but in the lingerie market, they're shaping the way customers shop.
But even for physical retailers, it's essential to adopt technological innovations from communicating with your customer base and revolutionizing the way you market your products.
Overall, the lingerie industry in 2024 is characterized by a blend of innovation, inclusivity, and sustainability, with brands striving to meet the diverse needs and preferences of modern consumers while embracing technological advancements and ethical practices.
Now let’s take a look at what challenges these trends can create for lingerie store retailers.
Challenge #1: Including all body types with a range of sizes
Society is progressing towards greater inclusivity of body types and body positivity, and with this progressive shift comes the need for fashion and lingerie businesses to make actions towards this evolution. However, this development presents a number of challenges for lingerie stores.
In recognizing the importance of inclusivity comes the need to purchase, provide, and stock inventory of a whole range of product types in band sizes and intimate apparel and accessories to reach every aspect of your target audience. This commitment extends to addressing unique needs in finding the correct size for each body shape and individual to have a satisfied customer.
Even though providing an extensive range of products comes with challenges, the demand for lingerie stores who go the extra mile have the opportunity to set high standards of representation and empowerment. Brands that embrace and embody these values within their marketing strategies and product offerings find greater resonance with consumers, ultimately driving their success in the market.
Challenge #2: Implementing marketing campaigns for wider audience reach
A definite challenge for lingerie stores in 2024 is staying ahead of online and e-commerce lingerie brands and businesses. In-person lingerie stores must dive into effective marketing campaigns to stay relevant and competitive.
Even as a physical store, you can still connect with your audience online and build a following that will boost your brand awareness. Using social media platforms like TikTok and Instagram provides a great opportunity to reach wider audiences and create community and customer engagement.
High satisfaction and engagement with your customers will result in more positive customer reviews, which serve as powerful word of mouth marketing, convincing potential customers of the value and community you provide.
Social media platforms also allow your business to show your key players how you can stay on top of fashion trends and resonate with different groups and demographics. By staying in tune with preferences and trends, your store can more perfectly craft marketing messages and campaigns which reach the consumer with greater connection.
Challenge #3: Competing with online lingerie brands
As mentioned before, the rise of e-commerce lingerie brands has intensified the competition in the lingerie market with brick-and-mortar stores. Offline stores are challenged to compete effectively in the online space and in making their physical store a seamless, personal, and welcoming atmosphere and experience for customers.
To combat this, first and foremost, you should have an online presence—even if you don’t sell your products from it. If nothing else, it makes your brand easier to find when customers are searching online for lingerie shops. Your site and social media accounts should be aesthetic, engaging, and easy-to-use.
Secondly, focus on exceptional customer service. In-person and online interactions will help you create a good reputation while indirectly benefiting the culture of your brand.
Challenge #4: Implementing retail tech in lingerie stores
Incorporation of retail technology into your lingerie store can be one of the most impactful strategies for success. However, it also poses the unique challenge of navigating the nature around your products with the customer experience.
Technology is new, unfamiliar, and requires training your team. But if you use a CRM that’s user-friendly, implementation is easy. The transparency between your company and managing your customers will be made clear and your customers’ satisfaction will increase.
How does Clientbook help lingerie retailers solve these challenges?
Clientbook, a customer management system built specifically for retailers, offers a comprehensive solution for lingerie stores to face their challenges. With it, they’ll come on top of meeting diverse customer needs and emerge as industry leaders.
With its advanced customer relationship management features, Clientbook enables lingerie stores to personalize interactions and nurture strong relationships to increase the number of satisfied customers. Overall, this enhances the loyalty and retention rates among consumers and makes your store an attractive answer to their needs and problems.
Clientbook's intuitive platform empowers stores to track data of customer likings and purchases, which creates customized recommendations based on individual body types and preferences. By leveraging Clientbook's transformative tools, lingerie stores can stay ahead of the curve and exceed customer expectations and reach growth goals to success.
Conclusion
Lingerie stores in 2024 grapple with a handful of challenges as they navigate catering body types, price ranges, competing with online brands, and leveraging around marketing campaigns. Amidst these challenges presents the opportunity to grow in this evolution for inclusivity and thriving in the industry.
With Clientbook, we're confident you can find strategies and tools which will give you an optimistic look and fulfilled plan for the future in your lingerie store. Book a demo today to see all the skills you can capitalize on for your store.
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