Thongs aren’t what they used to be
The bottom has fallen out of the thong market, in a classic example of how consumer demand can fluctuate reflecting changing fashions and tastes.
Its always pleasing when a business story comes along with significant potential for puns. However, I will avoid the temptation and stick closely to the business facts of the story.
The UK’s celebrity culture that is so influential in driving consumer demand in the fashion industries was to blame for the rise of the thong. All of a sudden, the thong was the garment to wear. The bottom line - thongs were cool, big & comfortable knickers were just pants.
Once celebrity models started wearing them, the underwear quickly caught on. The trend for showing them above the waistband was so popular that head teachers had to ban them. Even David Beckham was rumoured to enjoy wearing them.
All this was great news for thong makers - in Britain, consumers spend over £1.3bn on underwear every year.
How quickly things change.
An article in last weekend’s Sunday Times reports how sales of thongs have collapsed by nearly 20% in the past year .
According to the report, “fashion experts believe the thong is being rejected because women are looking for more comfortable and less revealing alternatives, such as cut-off “boy shorts”. It is part of a move away from overtly sexual clothing such as push-up bras, crop tops and low-cut jeans.”
Just five years ago, thongs and G-strings dominated 28 per cent of the ladies underwear sector. But with the resurgence of big pants, they have slumped to just 12per cent. Equally skimpy high-leg briefs have dropped from 25 per cent to just under 20 per cent, according to market analysts TNS and Experian.
Which leaves me wondering - where next for the female knickers segment? Have thong sales bottomed out? Or might thongs drop further?
IGCSE Business Studies
How to answer the marketing mix Q