Continuing to chart the course for 2023

As forecasts continue to prospect erratic political and economic scenarios, the current year year promises to be both uncertain and challenging for the apparel field, and the intimates segment in particular. What challenges lie ahead? What factors should we focus on to trigger growth? Contemplating a wider perspective can stimulate businesses to find profitable paths within the category and beyond, but what does that entail specifically? The Best of Intima turned to Todd Mick, Executive Director and intimates industry analyst and Kristen Classi-Zummo, apparel industry analyst at The NPD Group, to find out which course of action could help businesses stay on route.

While we have now exited the choppy waters of 2022, brands and retailers must still brace for unpredictable, and occasionally rough, waters as 2023 proceeds: evolving macro-economic factors continue to influence consumer sentiment and overall spending. Wallet sizes may be the same, but share of spending on essentials like food, gas, housing, and so on continue to leech into discretionary allowance. When we chart the course ahead for the intimate apparel business, a host of new obstacles come into play, including an already fully stocked intimates drawer (thanks to post-pandemic replenishment) and the slow crawl back to in-person work. In this challenging environment, how can a business chart a successful course ahead?There are some key factors that brands and retailers should keep an eye on...

All About Innovation
The old merchant mantra that the apparel basics maintain volume while innovation drives growth couldn’t be truer. Unfortunately for intimates, the business has lacked significant innovation since the bralette. The surge in shoppers post-pandemic resulted in a great sales performance in 2021 but comping against those numbers – and that level of replenishment – has proven to be difficult: women’s intimate apparel sales in the U.S. declined by 6% from January through September 2022, versus last year, according to NPD’s Consumer Tracking Service. Inspiring re-purchasing come springtime will require a heavy dose of newness. What’s the next generation of a smoothing or lift bra and next features that will spark her to spend? Think of panty silhouettes that pair well with skirts (a hot trend), or a new take on the occasion bra. If, as an industry, we continue to offer the same solutions, the consumer will continue to get by with what she already has in her drawer.

Mental Health = Mental Wealth 

Our idea of health has always revolved around our physical wellbeing, but we have come a long way from fad diets and eating raw eggs.  Our idea of health is evolving to include, if not prioritize, our mental health.  According to an NPD survey done in conjunction with CivicScience, 48% of respondents said that food and diet is a health focus for them in 2023. However, that is down from 55% in 2022. Areas where we are seeing growing interest include sleep, stress relief, less screen time, and work-life balance. We are coming to an understanding that our wellbeing is not just reflective of our physical health, but mental and emotional health, as well. What better industry to be a supporter of our mental wellbeing than intimates?

Bright Spots for Spending: Events and Travel

We will continue to see a focus on stepping out the door for social events, dining out, and traveling. The pandemic left an imprint of lost time, and we will continue to make up for it. In this spirit, occasion dressing will move into the spring and summer. While the consumer may want to get away with last year’s dress, she may be drawn to new smoothing and shaping benefits offered to enhance her outfit. Leaving the peak of the pandemic in our rearview mirrors, travel will also continue to be a focus area. For the consumer on a tighter budget and looking to get more bang for her buck, the industry should focus on versatile options for the beach and bar, helping the consumer to save money and space in her luggage.Despite some headwinds coming our way, there are still plenty of opportunities for the intimate apparel space to catch the right tailwind. These opportunities center around creating products that meet the full spectrum of the consumer’s usage occasions, in a brand appropriate way. Brands that are winning find compelling solutions and products for the entire wardrobe. Whether offering her affordable options or versatile styles, relating to her sense of joy is at the core of the intimate apparel industry.