At present, the high-end brands in China’s underwear industry are mainly occupied by foreign brands, and domestic brands mainly occupy the low-end market. There are more than 3,000 women’s underwear brands in China, and more than 90% of the brands have sales of less than 100 million yuan, and there are very few brands with sales exceeding 1 billion yuan.
The underwear brand competition in the Chinese market has not yet formed an industry leader, and the industry concentration is very low, which has also created many brands wishing to enter the Chinese market. The large-scale entry of foreign underwear brands is bound to have a certain impact on domestic brands.
According to the statistics of the “China Women’s Underwear Industry Market Prospect and Investment Planning Analysis Report” released by the Prospective Industry Research Institute, the size of China’s women’s underwear market increased to 152.1 billion yuan in 2017, an increase of 7.1% year-on-year. As of 2018, the Chinese women’s underwear market The scale has exceeded 160 billion yuan, reaching 161.1 billion yuan, an increase of 5.9%.
In 2018, less than 10% of Chinese women’s per capita clothing expenditure is for underwear. Compared with developed countries, such as 13% in the US, 16% in the UK and 20% in France, Chinese female consumers are in underwear. Consumption still has the potential to improve.
As more and more mid-to-high-end international brands enter the Chinese market, local underwear brands feel the pressure and decline in performance. The domestic women’s underwear brand itself is also facing a breakthrough upgrade.
In recent years, the improvement of women’s economic ability and self-awareness have pushed up the growth of the underwear market.
The overall line above the chest market showed a trend of consumption upgrading, the influx of young consumer power, the price of buying underwear is getting higher and higher, and the frequency of buying underwear is also on the rise. With the “post-95” and “after 00” becoming consumers, the consumption of women’s underwear market must also be fully upgraded. Today, many women’s underwear brands are also taking a “young” route from product development and brand promotion.