The wholesale lingerie industry’s ability to adapt to changing fashion, tastes and consumer demographics over the coming years could determine its success as the economy emerges from recession.
An IBISWorld report reveals that the US market in particular was enjoying growth up until the recession, as lingerie turned from a necessity into a fashion item that many consumers wanted to own.
Since then, economic turbulence in the country has turned the five-year growth in the market to the slightly negative, averaging out at -0.7% per year from 2007 to 2012.
There are still over 4,300 businesses in the sector in the US, accounting for $12 billion (£7.6 billion) in revenue – and the UK’s wholesale lingerie market is well positioned to capitalise on growth as the domestic market grows in the years to come.
Key to future expansion is the ability of lingerie wholesalers and retailers to respond to changing demographics, as IBISWorld says “innovative and fashionable products” are what’s needed to secure growth.
We’re ready to deal with whatever the next few years throw at the industry and, unlike some lingerie wholesalers, we’re always happy to help new starter businesses and meet in person to discuss your changing needs – whatever your customers may be demanding.