How US Lingerie Dominates The Global Market
Above: Lingerie Fashion Week celebrated and showcased brands Made in the USA like Nais Lingerie which is designed and manufactured in New York.
“Globally, the lingerie industry has revenue of $32 billion with America having 40% of the market share.” – Renée Mayne.
by Renée Mayne, Founder of Bra Queen, Australia’s largest resource for all things lingerie.
We recently conducted extensive research on the Australian Lingerie Industry and further to that Luis and I thought it would be interesting to research the US lingerie industry and where it sits globally.
The results are fascinating and not just in terms of numbers, but with the buying trends of consumers in the different countries.
Statistics on the US lingerie industry
Annual Revenue: $13 billion
Annual Growth: 3.3%
Entire US population: 316.1 million (2013)
Statistics on the Australian lingerie industry
Annual Revenue: $194 million
Annual Growth: 0.7% growth.
Employment: 1480 people
Entire Australian population: 23.13 million (2013)
Revenue of the Chinese lingerie industry
Estimated Annual Revenue: $5.09 billion
Revenue of the UK lingerie industry
Estimated Annual Revenue: $3.2
The USA leads the trend in world lingerie whereby they view lingerie as fashion not just a necessity. However, following the recession and weak spending conditions consumers confidence lowered as did disposable income, that seen a decease in sales in recent years. Nonetheless, innovation and their love for fashion is adhering to cater to America’s changing demographics and the lingerie industry are expected to drive the industry forward in the coming years.
The USA is a mature market and the percentage profit is forecast to rise at 5.3% per annum over the next five years. Interestingly enough, this increase in profit is largely due to the maturity of the US market place because the products changes are mainly cosmetic and therefore it is much more cost effective to companies, that in turn can be passed on to retailers and consumers by lowering the price of intimate apparel and driving sales up. In the decade prior innovation and improving the bra fit has left lower gross profit margins however in the long run the companies are better off.
Globally, the lingerie industry has revenue of $32 billion with America having 40% of the market share.
Comparisons in buying trends
“The USA is a mature market and the percentage profit is forecast to rise at 5.3% per annum over the next five years.”
Research shows us that American women view lingerie as a fashion item, in comparison to Australian women who view lingerie more as a necessity. Where Asian women prefer to buy high end lingerie and spend more money per set then both USA and Australia.
Article sources: IBIS World, ABS, Business Insider and China Daily.
Founder of Bra Queen, Australia’s largest resource for all this lingerie, a lingerie business mentor and consultant and an avid blogger. Obsessed with empowering women with the freedom of self-expression that lingerie gives them. It’s the beginning of living life wide-awake.