The lingerie store has always relied on its semi-annual discounts and highly publicized fashion shows to draw in customers, but even those tactics don't seem to be enough in 2021. With new lingerie brands entering the market every day through e-commerce and social media, the long-standing brand is finding it hard to keep up. In just the past two years, Victoria's Secret's American market share has plunged from 33% to 24% (via The Economist). This is because shoppers are choosing quantity over quality. According to a 2019 Cowen & Co survey, 34% of 180 shoppers interviewed felt that prices were "too high" and that the store should run "even more" promotions (via Insider).
There's no denying Victoria's Secret is in the upper echelon of lingerie brands, and sometimes that means splurging. Even Bustle writer Nancy Valev had to admit that the brand's Floral Lace Shorties (priced at $25) were well worth the money. "It didn't really feel like I was wearing anything," Valev stated of the underwear. "When I could feel the material on my skin, it felt nice and the elastic didn't pinch me and leave any marks." An impressive feat that explains the steeper price.
