Global Sleepwear and Loungewear Market 2019-2023
About this market
Vendors are focusing on promotional activities and strategic advertising. This is identified as one of the key trends that will gain traction in the market during the forecasted period. They are using websites, print and television mediums, e-mail, mobile applications, and social media to market, advertise, and promote their products. Technavio’s analysts have predicted that the global sleepwear and loungewear market will register a CAGR of almost 9% by 2023.
Innovation and portfolio extension of sleep and lounge wear products
Vendors are increasingly offering innovative products due to the rising demand for new collection of sleep and lounge wear products. They are offering cool, washable silk, and pima cotton collections.
Increase in availability of counterfeit products
Counterfeit products lack quality and durability. These products are sold at cheaper prices in comparison to international brands to gain a competitive advantage.
For the detailed list of factors that will drive and challenge the growth of the global sleepwear and loungewear market during 2019-2023, view our report.
The market appears to be fragmented with the presence of many companies. Factors such as the increase in strategic advertising and promotional activities by vendors and innovation and portfolio extension of sleep and lounge wear products, will provide considerable growth opportunities to sleepwear and loungewear market vendors. AEO Management Co., H&M, Hanesbrands, L Brands, PVH, and RALPH LAUREN are some of the major companies covered in this report.
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