South America Lingerie Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

South America Lingerie Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The South American Lingerie Market is projected to register a CAGR of 7.23% during the forecast period (2022 - 2027)

The lingerie market in South America is expanding as a result of the rising demand for stylish, well-designed, comfortable, and opulent lingerie in lighter hues and embroideries. A few of the major drivers are responsible for the lingerie market's rapid expansion which includes women's rising spending power and the millennial generation's growing knowledge of the best fit. Customers in the plus-size zone now need stylish, contemporary brassieres or lingerie that is easily accessible in larger sizes, thus numerous brands are introducing plus-size lingerie to the market. Additionally, a more positive public image of plus-size people endorsed by celebrities has inspired customers to embrace their appearance, driving greater market demand.

Over the medium term, during the worst of the epidemic, so-called "contactless" BOPIS, and curbside collection helped reduce infection risks, thus women preferred the Click and Collect alternative for shopping. As a result, several brands have collaborated with retailers to enable customers to shop online and pick up their orders from stores or a specified location at their convenience. For instance, in July 2022, Victoria's Secret Chile, run by Grupo Axo, recently introduced a click-and-collect scheme that seems to have resolved this contradiction of incremental sales.

Key Market TrendsIncreased Online Retail Adoption Facilitated Market Growth

E-commerce retail stores have grown in popularity among the vast majority of women who choose to buy lingerie through online sales channels because they offer ease of convenience, product information, size questionnaires, a greater variety of different brands, and a wider range of patterns and colors. With the increasing internet penetration in the region, many retailers are shifting toward online platforms to expand their networks. Further, to increase the availability of their products and reach more customers, lingerie producers have been working with a variety of distributors, including individual stores and supermarket chains like Walmart, Tesco, and Target, among others. For instance, As per the data published by the International Trade Association, Brazilian eCommerce increased by more than 40% in the first half of 2020 owing to the changing consumer preferences at the time of the pandemic.Thus, the penetration of e-commerce is actively propelling the expansion of the market under study and is anticipated to pick up steam throughout the projected period.

Inclination Towards Comfortable Fabric Augmented the Growth

The lingerie market is rapidly expanding as a result of various factors such as increased demand for sports bras, the introduction of comfortable and stretchable yet stylish materials for intimate wear, and athleisure inner-wear as a result of increased health consciousness and sports participation among consumers throughout the region, which is all contributing to the market's growth. Additionally, the incorporation of elastic laces and microfiber materials, along with developments in the market like laser cutting, seamless, model, and full t-shirt brassiere, is anticipated to cement the market's dominance during the beginning of the forecast period. Brands are moving toward sustainable and ethical business practices while being more open about the materials they use to make their products. This involves producing vegan brassieres utilizing animal cruelty-free substitutes such as fruit fiber, vegan textiles, and recycled products. However, several players have been focusing on offering trending products to expand their product portfolios by meeting the needs of a variety of consumers. For instance, in April 2020, Hope Lingerie launched a range of lingerie products made from biodegradable fabric in the Brazilian market. Hence, the South American lingerie market will have sufficient growth owing to the factors mentioned ablove. Thus, as a result of the aforementioned factors, the South American lingerie market will expand adequately.

Competitive Landscape

The South American lingerie market is highly competitive, with the presence of various global as well as regional players capturing the market by offering various trendy as well as fashionable lingerie. The key players in the market are Adore Me, Groupe Chantelle, Victoria's Secret & Co., CLO intimo, and Leonisa, among others. Major players have been concentrating on capturing the chances presented by market innovation to increase the scope of their product lines and meet the needs of diverse product categories. Further, These players are focusing on various marketing strategies to penetrate the South American market which include, partnering with well-known brands or companies, strengthening their hold over online and offline marketing, and expanding their presence in various countries by mergers and acquisitions with other giant companies. For instance, in April 2022, Victoria's Secret & Co. added 120 new products to Amazon's store, including Victoria's Secret Beauty and PINK Beauty, all of which are eligible for fast, free delivery with Prime so that customers can easily browse Victoria's Secret website for a wide range of items.

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