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Market Analysis: The Scale Of Underwear Market Without Steel Ring Continues To Grow

2020/11/17 18:11:00 0

Underwear

Women's underwear industry is setting off a "no steel ring movement.".

From upstream to downstream, from fabric to technology, women's underwear is undergoing a revolutionary ecological change. The female vision of "true self and nature" is gradually replacing the "sexy and charming" male vision. Why the great changes have taken place in women's underwear? What is the impact of this change on the front and back waves of underwear brands? How will the trend of women's underwear market evolve in the future?

01、 Awakening of female consciousness

The scale of the rimless underwear market continues to grow.

According to the "underwear industry trend research" released by cbndata, in 2017, the rimless underwear market ushered in an outbreak, and the market scale growth rate was nearly 50%. From the perspective of consumer groups, the post-90s account for more than half of the total, and the growth rate of the number and amount of consumption after 95 can be expected.

According to a market survey conducted by AI media, 76.6% of Chinese consumers prefer rimless underwear in 2020. From the global market point of view, there is also considerable growth in rimless bras. According to Figleaves, an online underwear retailer, sales of rimless bras increased by 40% at the beginning of the epidemic, and continued to grow by 42% in June.

"Of course, underwear should be comfortable. The feeling of the body is more important than other people's evaluation. Because I'm fat, wearing underwear with steel hoops in summer will leave marks, and I can't breathe for a long time After 00, Xiaoya (pseudonym) told 24 new voice. She is 163cm tall and weighs 66kg. She usually buys underwear from e-commerce platforms, and there are 2-3 shops opened by her favorite online Red bloggers, who will regularly update and won't buy so-called big brands.

The explosion of rimless underwear has injected new impetus into the industry prospect. From steel ring to no steel ring, and then to no size, China's underwear market is setting off a vigorous "subtraction action.". Most consumers can feel such a trend: the upward and downward ranking of underwear brands revolve around "comfort".

Whether it is ubras, banana inside or outside, they are sought after all the way by consumers, but also favored by capital. The common reason why they become the top of the subdivision category is precisely because they cut into the real needs of consumers.

According to the data provided by Alibaba to 24 Xinsheng, there were more than 100 million underwear brands from November 1 to 11 this year, including uberas, UNIQLO, bananin jiaonei and manifen.

Among the brands with high year-on-year growth from January to November in the underwear industry, the growth rate of Suji fine products was more than 900%; that of agent provocateur was more than 800%; and that of adamunderwear was more than 500%.

In particular, ubras and inside and outside can be called the self salvation of the small chest crowd. They all want to change the "anti feminine" design of underwear to make the bra more comfortable, rather than squeeze the chest and deliberately squeeze out of the business line.

As for this trend of women's underwear, Mai Xianqian, founder of Suji liangpin, introduced to 24 Xinsheng that in the past, men's aesthetics had always been the dominant factor, and women were educated by various brands. "It has to be sexy. As long as you have a good figure and body shape, you can get social recognition. Even Vimy has been selling this anxiety. However, from 2015 to 2016, comfortable underwear and senseless underwear were soaring wildly, and some women began to wake up and should wear them for themselves. "

She said that the company has been in the underwear industry for nine years. After discovering this trend, the company entered tmall in 2017 and began to develop more comfortable underwear. "Based on the fact that there are steel rims, but there are no steel rings and they are too loose, the company has made an intermediate plan, which is soft support underwear."

It is not only a major innovation of women's underwear, but also the consumption upgrading of women's underwear.

After all, as close fitting clothing, women's underwear is still based on "quality". Including but not limited to its soft, fluffy, smooth, itchy, moisturizing, cold and warm perception, product quality is very important.

Bao Yuezhong, a retail expert, told 24 Xinsheng that not only has the underwear industry changed, but the entire clothing brand is now beginning to make adjustments, because in the Internet environment, the core of operation is users, not just commodities. The brand needs to solve the problems of user operation and user activity around the modern Internet environment, and must adjust the business model to adapt to the current Internet environment.

02、 Reshape the supply chain

China's underwear market is opening a deep-seated reform of technology, user insight and business model remodeling.

According to public data, China's underwear market is growing rapidly, with a market size of about 460 billion yuan in 2019. According to AI media consulting data, China's underwear consumption demand has reached 16.77 billion pieces in 2019, and is expected to exceed 17 billion pieces by the end of 2020.

However, the underwear market has long been in an awkward situation of "big pond and small fish". The reason why the underwear industry is facing a mixed situation is directly related to the supply chain.

First, the mass production process of adjustable female underwear with steel ring was complex in the past, and the production process of one underwear was about 30-40. In addition, it also needs to match a set of complex size system. The conventional bra product size has 10 ~ 12 SKUs, and if it is matched with different colors, the number of SKUs will often be hundreds, which has strict requirements for the supporting supply chain capacity.

At present, * comfortable underwear and adjustable underwear are totally different supply chain, not the same factory production. Although the process of comfortable underwear is reduced, the process will not be simple, and the production is more difficult.

Before the production of women's underwear is mainly a sewing process, basically manual operation. But most of the comfortable underwear is based on the fitting process, and the degree of mechanization will be higher.

In a commercial society, standards are more likely to win. Through the production line batch production of industrial products, we can quickly open the market with low price and stable quality. With the improvement of women's underwear technology, it may be possible to enter the "semi industrial era".

Mai Xianqian introduced that before, some traditional brands in the industry even had 100000 SKUs. However, the trend of underwear industry is gradually evolving to fewer SKUs. Brands are more willing to spend more time polishing a single product and making it a blockbuster.

The production cost of comfortable underwear will not be reduced. First of all, the choice of fabric is higher than the past requirements. For example, it is required that it can be washed many times, but the edge will not be opened or curled, and good resilience must be maintained. These details need to be optimized bit by bit.

In the past, the main problem of underwear design was how to make the lace and cloth match perfectly, which was just the appearance. But now, the difficulty of developing a underwear is how to fit the human body better, including the radian and edge of the version, which need to be tested again and again.

"So every time we develop a product, it takes half a year. At present, it's every two months." Mai Xianqian said.

Second, before the female underwear brand to create a huge scale of "pop" effect, we must solve the "fatalistic problem" of inventory.

It is estimated that a huge inventory of RMB 250 million will be wasted in the traditional clothing industry in China.

However, inventory is no longer difficult to manage, because there are many data systems enabling, whether it is order, development, production, delivery, etc., are managed in a very data-based way. For example, the turnover period has been shortened to 60 days.

"In the future, there are great opportunities for offline retail. In 2021, we will lay out offline stores in Guangzhou and other first tier cities. " Mai Xianqian said.

03、 Will giants emerge?

Although the underwear market is "just needed by users", the underwear market in China is still "big but not strong".

According to Euromonitor data, in 2018, the market concentration of top 5 brands in China's underwear market was only 6.6%, while in the same period, the concentration of top 5 brands in Japan, the United States, the United Kingdom and other mature markets had reached 56%, 47% and 22%.

According to statistics, more than 3000 brands in China are competing with each other in the female underwear market. According to the monitoring data of China's offline retail channels by the China Federation of Commerce and the China National Business Information Center, even in 2019, the love with the highest market share only accounted for 7.34%.

At the same time, the business world and social trend of thought of women's underwear are also undergoing chain changes. The British branch of Weimi is in the mire of bankruptcy, and the traditional Chinese underwear brand, city beauty, continues to close stores, and the loss margin is expanding.

In the past, the underwear industry has been analyzed and disassembled several times to serve as a commercial warning, while the corresponding is a new player who has leapt to fame.

Among them, the domestic minority underwear brands inside and outside, and ubras are booming. On August 19, foreign and domestic officials announced that Faye Wong became the global spokesperson, causing widespread concern. According to the business card pro, the company has obtained seven rounds of financing.

In this year, the resale rate of underwear ranked No. 618% in the No. 618% consumer list this year. According to the company's business card pro, the company has obtained two rounds of financing, of which, on September 10, this year, it received round B financing of hundreds of millions of yuan, led by Sequoia Capital China and followed by today's capital.

Bananin banana also officially completed a round of financing with hundreds of millions of yuan on November 13, with a post investment valuation of 2.5 billion yuan.

Looking back on the situation of the former underwear giants, it is deplorable.

"The main reason is that the traditional underwear brands are aging seriously, and the products and demands can no longer meet the needs of today's young people." For those who are not willing to buy new brands, those who have not been willing to buy new brands for a long time may not be able to buy new brands.

However, no matter how many new and cutting-edge brands are pouring into women's underwear industry, no company has reached the popularity of Weimi and urban beauty.

The reasons for the low concentration of underwear industry are: firstly, the previous sales channels of underwear industry are relatively single and scattered; secondly, the brand homogenization of traditional underwear is particularly serious, the products of various brands are basically the same, and the various underwear brands in stores seem to have just changed the logo; thirdly, compared with Europe, America and Japan, China's underwear brands started relatively late.

"In fact, the time for the emergence of domestic underwear industry giants has not come yet, but I think some brands based on different crowd positioning will focus on the head in recent years." According to Mai Xianqian, this is based on different scenarios such as sports, daily work, breast-feeding, and emotion related. There will be some excellent underwear brands occupying the head position in specific groups.

This means that sooner or later, China will usher in the giants of underwear brands.


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Market Analysis: The Scale Of Underwear Market Without Steel Ring Continues To Grow

How will the trend of women's underwear market evolve in the future?