Innovation Required to Sustain the Market Following Pandemic Slump

DublinAnd November 29, 2021 /PRNewswire/ – “Women’s Swimwear Market – Growth, Trends, Impact of COVID-19, Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com an offer.

The uncertainties created by the COVID-19 pandemic have led market players to innovate in their sustainability strategy. Established brands have taken the other path through careful collaboration with retailers.

They saw their sales crash during the pandemic, which was also the prime period for swimwear sales. Hence, they constantly ensure sufficient stock is available with retailers all the time and hope sales will return as travel and tourism returns. However, with the gradual reopening of the economy, international travel is expected to pick up again, helping the demand for swimwear.

Over the medium term, the market has seen a growing interest in swimming as a sport and hobby, buoyed by a rise in product innovations and advanced technologies, such as the incorporation of neoprene fibers to develop fabrics that improve their flexibility and effectiveness.

With the changing fashion trends, key factors, such as design, trend and fabric comfort, play a major role in driving the market. Moreover, manufacturers and designers focus on the comfort level of swimwear, as it has a significant impact on the purchase decision of the consumer. The popularity of value-added features, such as trendy prints and comfortable cuts, is fueling market growth.

Moreover, promotional activities and promotional campaigns by manufacturers to increase their brand image drive market growth. Due to the high rates of online shopping and the availability of high-end luxury swimwear, the major players saw an increase in the sale of branded women’s swimwear during the study period.

Major market trends

Increase customer engagement through social media

Social media has become an integral part of today’s generation, especially when it comes to younger generations. Its impact is far-reaching and greatly affects the shopping behavior of consumers. According to a survey from CreditCards.com, in August 202172% of millennials said social media influences their purchasing decisions.

Because of these factors, social networks are expanding into every aspect of consumers’ daily lives, including their shopping habits. Visually driven social media like Instagram and Pinterest started out as digital forms of window shopping, but with purchasable Pins, social ads, and Instagram galleries to shop at, these brands have instant access to stores and product pages from social media.

Ambitious visual content in swimwear customer photos keeps social communities active and inspires fans of the brand to share more user-generated content. Aspirational content takes a step beyond media messaging into the realm of lifestyle experiences. It allows companies to express their values ​​through content that captures the essence of their brand. In addition to inspiration, user-generated content allows customers to tell the brand exactly what they like and don’t like about their products.

Therefore, most brands, such as Frankie’s Bikinis, their product development process is greatly influenced by Instagram, which greatly increases sales of swimwear. These social media platforms provide an opportunity for swimwear brands to connect with their customers, improve their products as per consumers’ preferences, and enhance their markets.

North Amarica It has the largest market share

Although government-imposed lockdowns as a result of the COVID-19 pandemic kept people indoors across the country, sales of inflatable and above-ground pools were reported to have increased by triple digits in April and May of the same year. Thus, consumers were able to enjoy the luxury of pools and beaches from the comfort of their homes without the need to travel, which has propelled sales of women’s swimwear in the region.

Plus, with vaccinations rolled out and closings ending in 2021, customers can travel on vacation again, which has contributed to the growth of the swimwear market. Diversity in product offerings, such as sports swimwear and plus size swimwear by top players, has also increased the demand for women’s swimwear in the region.

Furthermore, Mexico It is one of the few countries that does not have an international border crossing policy. Passengers are allowed in and out without evidence of a negative test, vaccination or recently resolved infection. Subsequently, Mexico It has become a holiday hotspot for tourists from other countries looking to travel after the lockdown. Increasing the number of tourists who spend their holidays Mexico It has also increased the demand for swimwear available in the region.

Competitive scene

The global women’s swimwear market is highly fragmented and competitive, with the presence of many global and regional players. The major share of the women’s swimwear market is dominated by a global group of companies.

Thus, the global market is shared among some of the highly rated companies like LVMH, Chanel, Adidas AG, etc.

With the increasing number of consumers interested in the brand worldwide, key players are adopting strategies to capture their attention by offering sustainable swimwear made from recycled materials. Product innovation is largely carried out by market players as part of expanding their product portfolios together, with catering facilities to consumers helping in managing their lifestyle through innovative product offerings.

mentioned companies

  • LVMH Moet Hennessy Louis Vuitton
  • Maricia LLC
  • Chanel Collection
  • Missioni SpA
  • Swimwear Anywhere Inc.
  • La Jolla Group
  • La Perla
  • Pentland Group plc
  • Adidas AG
  • puma company

For more information on this report, visit https://www.researchandmarkets.com/r/5c54n8

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Research and Markets
Laura Wood, director, mentor
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