Monthly Archives: March 2019

Consumer Evolution with NPD’s Todd Mick

The Consumer Evolution seminar was given by Todd Mick, Executive Director of Apparel and Kristen Classi-Zummo, Apparel Market Analysis Director of The NPD Group; an authority on market size and trends in over 20 different industries. They shared information regarding consumer trends in the intimate apparel industry with The Underfashion Club  at The Harvard Club of New York.

Todd Mick discussed the evolving consumer using 3 key themes:

  1. Category Performance
  2. Channel Performance
  3. Price Segment Performance

Bras are the #1 category of growth in intimates. More people are shopping in channels that offer value and convenience, like off-price retailers and e-commerce. Body positivity, ethnic inclusivity, and campaigns that uplift and empower women are gaining support. Big retailers are on a spending binge. The high-end and specialty lingerie market is growing more than we’ve ever seen before, now comprising a third of sales.

Even with all this disruption, sales in intimate apparel are flat at a $12-13 billion market. It’s only grown 1% in the past 3 years with sports bras and shapewear. Right now, the market’s all about slicing the pie and taking a share.

A modern business’s survival involves adaptation and focus in:

  • Retail & Product Innovation
  • Values & Community
  • Merchandising & In-store Excellence
  • E-Commerce, Excellence, & DTC

Millennials today have great spending power, high self-esteem, and a value for responsible shopping. Making personal connections and sharing concern over current social and environmental challenges will inspire consumers to support a business. About a quarter of intimate apparel sales are made online, where modern consumers do most browsing. Understanding the preferences of the modern market is vital to business growth.

Todd ended the seminar by giving the first-ever Underfashion Club exclusive NPD Bra Awards, showing the top-growing bras of 2018! Thanks NPD for the fascinating show.

Kristen Classi-Zummo‘s panel can be read here.

View photos from The Consumer Evolution on Facebook.

View The Consumer Evolution on YouTube:

Consumer Evolution with NPD’s Kristen Classi-Zummo

The Underfashion Club met on March 12th at the Harvard Club of New York to learn about Consumer Evolution with The NPD Group; an authority on market size and trends in over 20 different industries. Presenters Todd Mick, Executive Director of Apparel and Kristen Classi-Zummo, Apparel Market Analysis Director shared their knowledge and data regarding consumer trends in the intimate apparel industry.

Kristen Classi-Zummo described today’s changing consumer using key themes:

  • New Committed Consumption
  • Casualization Nation
  • Digital Divas
  • The Responsible Consumer

There have been significant changes in consumer culture recently due to the Internet’s accessibility. Over 25% of currency spent on apparel was made through online transactions. Apparel sales have been flat over the past 3 years and are expected to decline in 2019.

Where are consumers spending their money today? People are buying experiences—as observed in increased sales in park attendance, travel, and RVs. Subscriptions cost the average consumer about $300, which results in less for discretionary spending. Consumers of apparel subscription services often cancel within the first 3 months due to loss of interest.

Personalization is key to keeping the consumer invested. The sign-up process is a great opportunity to collect preferential data on individual consumers for personalized recommendations. Shipments that are varied, interesting, and considerate will more likely keep subscribers committed.

Activewear’s popularity helped influence a casualized nation. Despite being made for athletic performance, 60% of those who frequently wear activewear almost never exercise. More people are choosing to stay in, investing in the home’s comfort and streaming media. Meal kits and food delivery services replace grocery shopping. Home automation services and social media encourage the trend to stay at home even further.

The preference for casual comfort is seen in intimate apparel trends such as high-waisted underwear and wire-free bras.

Social media connects us to influencers and the latest styles, impacting how consumers view fashion. However, 46% of people don’t follow their favorite brands on social media. This is a big opportunity for businesses to use social media to connect to potential customers. Over half of consumers purchase clothing after seeing it advertised on social media, and over half of those made repeat purchases.

Social media is the perfect platform to showcase your brand’s message and values, connecting to the consumer’s will to shop responsibly. Social responsibility and sustainability is a movement that is growing, influencing consumers to consciously support companies whose mission reflects their personal values.

We’ll cover presenter Todd Mick‘s segment of this seminar in our next blog!

View photos from The Consumer Evolution on Facebook.

View The Consumer Evolution on YouTube: