Loungewear and Underwear Industry
- To understand the segments within relevant markets related to Jambys in order to pitch to new investors about the product’s value in loungewear and adjacent markets.
- MeUndies is "getting everything right" with online apparel due to being a vertically-integrated brand, having one store and low costs, and selling in sleepwear/lingerie, which is noted to be the apparel category's fastest-growing sector. MeUndies was also named the "best comfy loungewear."
- -One report "detected a 73% increase in brands mentioning loungewear on a category landing page or homepage."
- The sleepwear market grew by 19% last year.
- In Britain, loungewear sales were up by 30%. One online retailer saw a 300% increase in sales of sweatpants.
- Some reports segment loungewear by categories that were not relevant or were behind a paywall.
- According to Technavio, "Currently, the demand for visually-appealing sleep and loungewear is driving the market. Most people, especially women, are particular about their outfits. Although sleepwear and loungewear are worn inside the house, the preference for visually-appealing products with better features is high. The availability of sleepwear and loungewear products that cater to different requirements, therefore, attracts customers. During the forecast period, many vendors are expected to launch new sleepwear and loungewear in diverse colors and styles."
- A price summary of sleepwear shorts shows that 29.7% are sold for $10-20, 18.8% are sold for $20-30, and 11.9% are sold for $30-40.
- A disruptor of the loungewear scene is Nudwear, "a sustainably and socially conscious silk loungewear startup." Nudwear deals with overpriced and low-quality loungewear in the e-commerce space.
- Online apparel sales grew by 18.5% in 2018 and represented 34.4% of all US apparel sales.
- 51% of Americans and 67% of millennials prefer online to offline shopping.
*Please note that sector information within the markets was not preexisting online and was very limited. If sector details are absolutely required, these numbers will have to be triangulated, if available.
Proposed next steps:
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Because there were not a lot of data pertaining to the revenue-specific breakdowns of these apparel markets, the team recommends continuing the research to gather as much financial and quantitative data as possible about the sectors (gender, online, brick and mortar retail) for loungewear and underwear. Our analysts will look for 7-10 financially-related, or otherwise quantitative, stats about each sector.
The team will also seek to identify the revenues from the largest competitors (mack Weldon, MeUndies, and Saax).
The team recommends identifying top players in leisurewear, underwear, and athleisure markets.