LONDON--(BUSINESS WIRE)--The global compression wear and shapewear market is expected to post a CAGR of over 5% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing demand for plus size clothing. Plus-sized women generally prefer wearing bras that minimize their size. This has increased the sales of minimizer bras and shapewear. New-age shapewear is pleasant to wear, does not leave pressure marks on the body, and has several additional features. For instance, Shapewear by Dirty Little Secret Lingerie has a four-point loop and strap system that holds the shapewear in place and can be attached to the bra. Manufacturers demand a higher price for such additional features. Moreover, shapewear is available in various colors as consumers prefer matching their shapewear with their daily clothes.
This market research report on the global compression wear and shapewear market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increased adoption of omnichannel strategy as one of the key emerging trends in the global compression wear and shapewear market:
Global compression wear and shapewear market: Increased adoption of omnichannel strategy
Marketing is important for the manufacturers of compression wear and shapewear. Product improvement, choosing appropriate channels of distribution, effective advertising, and aggressive pricing strategies are factors that affect product promotion among end-users. Rapid internet penetration is helping manufacturers to conveniently offer product information to consumers, thereby making marketing easy. Rising internet penetration and adoption of digital products such as tablets, smartphones, and laptops have boosted online sales. Many vendors are selling compression wear and shapewear online, which helps in promotion of these brands as well.
Online retailing has become one of the most important channels for the sale of retail goods and services. Advancements in technology have had a significant impact on retailers’ marketing and sales decisions. A growing number of apparel marketers are embracing the omnichannel strategy to appeal to the tech-savvy millennial population. Thus, the market is expected to witness a positive outlook during the forecast period.
“Apart from increased adoption of omnichannel strategy, other factors boosting the growth of the global market is the growth of organized retail in developing countries. The entry of new players globally will also contribute to sales through online as well as organized retail sector. The penetration of organized retail allows consumers to compare prices, quality, and design, which aids in their purchase decision,” says a senior analyst at Technavio.
Global compression wear and shapewear market: Segmentation analysis
This market research report segments the global compression wear and shapewear market by product (compression wear and shapewear) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of close to 41%, followed by EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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