High Newness Doesn’t Guarantee High Sell-Out: Brands with high new-in rates failed to drive sales. Nancy Ganz and Cosabella had above average new-in rates yet achieved total sell-out rates that were below the average for total segments. On the other hand, Miraclesuit managed to achieved 91% total sell-out despite only have a new-in rate of 9%.
Purposeful Branding is Key: Wolford garnered the highest sell-out rate at full price at 90% amongst all 9 brands analysed, despite its high selling prices.
With one of the largest audiences among the brands at more than 156,000 followers, Wolford launched its global campaign titled ‘True Character’ in Spring/Summer 2019.
Featuring powerful emotions and playful personalities, ‘True Characters’ seeks to portray beauty in imperfections. As a result, the brand successfully tapped into the younger audience as well as retained its loyal and mature customers.
Next Steps for Brands
Recognise Key Styles: With the shapewear industry expected to grow steadily, brands should rely on data to monitor the development of this segment. Omnilytics provides the precision of such data including the bestselling styles to aid informed decision-making.
Retailers looking to leverage on the popularity of this segment can learn from these pioneer brands on incorporating elements that worked – assortment mix, designs, colours and price ladders. Brands and retailers should also look to trends in other categories to understand trending silhouettes and the impact these trends might have on shapewear demand and pieces.
Adopt Fashion Colours: With celebrities spotted wearing shapewear as outerwear, it will not be long before fashion followers follow suit.
Traditionally intended to be invisible and unseen, shapewear has minimalistic designs consisting of core colours. However, customer demand has shifted with the increase in fashion colours as observed this year. The shift, while highlighting the opportunity for fashion colours to potentialize trade performance, also means a greater emphasis for data-backed decisions. A mis-step in colour offering can have an impact on seasonal sales.