Global Loungewear Market Future Outlook: Market Trends, Growth and Competition Landscape by Regions and Forecast 2027
Media Promotion and Celebrity Endorsements: Promotion
plays a vital role in increasing the sales of loungewear, and celebrity
endorsements influence consumer buying decisions to a great extent.
Manufacturers of loungewear are tapping into the wide fan base of celebrities
to gain more customers and raise awareness about their products. For instance,
Luke Bryan, a singer and songwriter, and his wife Caroline Bryan are brand
ambassadors for Jockey International Inc. in their new campaign named “There’s
Only One Jockey.” Thus, the promotion of loungewear by celebrities on social
media helps market players expand their customer base and increase sales,
consequently driving the growth of the global Loungewear Market Forecast during
the forecast period.
Non-Store-Based Distribution Channels Gaining
Popularity Across the Globe: The
non-store-based segment includes e-commerce, wherein manufacturers distribute
oral care products through various online shopping sites and/or their websites.
Companies face difficulties in reaching consumers in different parts of the
world through brick-and-mortar stores. Thus, e-commerce channels enable
companies to cater to the consumer’s needs and expand brand presence.
Additionally, this mode of distribution also helps manufacturers showcase their
wide variety of products available.
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Key
Players
Hanesbrands
Inc. (US)
Jockey
International Inc. (US)
Marks
& Spencer Group Plc (UK)
PVH
CORPORATION (US)
H & M
(Sweden)
Triumph
International Holding GmBH (Germany)
Authentic
Brands Group LLC (US)
Urban
Outfitters (US)
Nordstrom,
Inc. (US)
Global Loungewear Market Forecast size is projected to be valued at USD
9.23 Billion by 2027 at a CAGR of 9.5% between 2020 and 2027.
Loungewear is casually styled sleepwear or loose-fitting cloth suitable for
relaxing around the house or can also be used as an outfit. The demand for
loungewear is increasing as people are opting for comfortable and presentable
clothes. The convenience and ease of accessibility are some of the major factors
that are pulling the market development. Furthermore, loungewear is easily
available to consumers belonging to all social-economical groups. Also, product
launches by manufacturers are also expected to drive the demand for loungewear
during the forecast period. For instance, in December 2020, L’Agence, a
California-based company, launched a luxury loungewear collection named Lux
Lounge. This loungewear offers nine styles in six different colorways, priced
between USD 150 to 220.
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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