Need more evidence that Victoria’s Secret is becoming the Sears of Brassieres? A new report by the research firm CivicScience found that women are much more likely to buy from Target than from Victoria’s Secret when they’re searching for intimates and sleepwear. And millennials are particularly eager to ditch Victoria’s Secret for Target.
Victoria’s Secret is still the most dominant lingerie on the market. But it has been on the decline, both in terms of its sales and in terms of enthusiasm for the brand. Its most recent annual fashion show, which features supermodels and top performers, received its lowest ratings of all time.
Meanwhile, other intimates brands are stepping in to fill the gaps. Startups like ThirdLove and Lively are targeting women who would otherwise have shopped at Victoria’s Secret. And now, Target is investing in its lingerie business. Target recently announced it would be overhauling its in-house intimates and sleepwear brands, launching three new brands this spring. These brands will focus on inclusivity through expanded sizing, and also ensure that prices remain affordable.
Millennials appear to be particularly disillusioned with Victoria’s Secret. These consumers have grown up with brands like Aerie, which have a much more inclusive and less sexual approach to marketing. In contrast, Victoria’s Secret still pushes the sexy supermodel as an ideal. So there you have it: Another nail in Victoria’s Secret’s coffin.
You can read the full CivicScience survey here.