Revealed Magazine Summer 2024 final - Flipbook - Page 20
Consumer Trends in Intimates
Maximizing Opportunities
Amidst Challenges
Consumers are splurging on travel and experiences, but discretionary categories continue to face challenges as
they pull back on product purchases and show signs of trading down.
With limited bandwidth to spend, consumers are being extra selective and clearly choosing experiences over
things. As the intimate apparel industry continues to feel the pinch from this pullback, brands and retailers need
to maximize their opportunities with consumers.
Persistent Declines,
but Opportunities Remain
Day, vacations, new jobs…consumers want to indulge while
they celebrate. But sales success is not simply measured by
the amount of product on the 昀氀oor.
Consumer spending was a lagging indicator of in昀氀ation. When
higher prices hit, consumers continued to spend for some time.
In the two weeks leading up to Valentine's Day this year,
It wasn't until late 2022 and early 2023 that we saw a slowdown;
intimates sales – the apparel category most synonymous with
the holiday – were down 11%. On the other
whatever consumers didn't immediately
need, they didn't buy at all. Fast forward to
today, and the bras and panties that were
replenished in 2022 are reaching the point of
replacement again.
The industry continues to feel the aches of
an overstretched consumer. According to
With an industry slow
to rebound, it is critical
for brands to do all
they can to grab their
consumers' attention
and make the most out
of every opportunity.
Circana's consumer tracking data, intimate
hand, bodysuits grew by 25%. Why? Because
it is a fresh, innovative, and exciting category,
with new brands and on-trend color palettes.
Additionally, bodysuits are also versatile
as something you can wear for multiple
occasions.
For a cash-strapped consumer, versatility is
apparel dollar sales declined by 4% in the 12 months ending
important. While value and adaptability are more important
March 2024, versus the prior year. With an industry slow to
when consumers are in a more cost-conscious headspace, this
rebound, it is critical for brands to do all they can to grab
behavior may not change even as economic conditions improve.
their consumers' attention and make the most out of every
It's important to tiptoe the line between trend and novelty.
opportunity.
Consumers 昀椀nd value in innovation, but many don't have the
means to splurge on a one-time novel item.
Make the Most Out of Micro-Occasions
Travel is another micro-occasion for the consumer. While
The peaks are few and far between, but brands and retailers
timing shifts, there are still pillar moments to take advantage
need to take advantage of spending occasions. Easter, Mother's
of seasonal recreation. In Circana’s Omnibus survey in February,
R E V E A L E D - THE SUMME R IS SUE #11
