Sales of underwear are decreasing! Have people reduced wearing underwear? Jockey, Rupa, Dollar are facing huge losses
Sales of fashionable clothes have increased. There has been a decline in underwear sales. Companies are scared of this kind of thing coming to light in all categories of boys, women and men. Economists’ expectations have risen, they know for sure that if the laws of economics follow the rules, then sales of lipstick and underwear will decline.
The crowd did not return to the market after the lockdown. Everyone was wondering how everything would become normal now. Now it has been a long time since the lockdown ended. The markets have become normal. There is a lot of shopping going on during festivals, people are buying a lot of clothes but there is one thing which is attracting people’s attention. At this time the festive season is starting. There will be a lot of festivals in India for the next two months. During this period, crores of rupees were traded in the country’s markets. There was a lot of buying and selling. Indian citizens are heavily purchasing party wear, formal and other clothes. But a shocking thing has come to light. It is being claimed that the citizens of the country are buying less underwear and innerwear. Therefore, sales of brands like Jockey, Dollar and Rupa have fallen in this sector. The sale of fashionable clothes has increased during the festive season. There has been a decline in the sales of underwear. Companies are scared of this kind of thing coming to light in all categories of boys, women and men. But economists’ expectations have grown, because they know for sure what will happen if lipstick and underwear sales decline according to the laws of economics.
Why did purchases decrease?
According to experts, due to rising inflation in India, citizens are spending money only on purchasing essential goods. Therefore the purchase of underwear and innerwear is ignored. Underwear consumption has declined by 55 percent from the last quarter to December 2022. While Jockey’s total revenue grew by 28% and overall growth by 31% in the first quarter of FY 2023-24. There has been a slight decline in underwear purchases on a year-on-year basis. Revenue declined 7.5% and volume declined 11.5% compared to the first quarter of last year.
there is no money left
At present, inflation in India has reached its peak. Everything from vegetables, pulses, sugar, wheat to rice has become expensive. In such a situation, the kitchen budget has increased. Due to inflation, people are spending their money only on household expenses. Due to huge discounts on online shopping, citizens have turned their attention there.
Decline in sales of these companies
Page Industries, the parent company of Jockey and Lux Industries, saw a decline in sales in the last quarter of December 2022. There is said to be a 52 percent decline in Rupa Company. Rupa’s shares have fallen by 52 percent in the last one and a half year. Page Industries’ volume fell 11 percent and share price fell 5 percent.
How big is the market?
According to Euromonitor International, the innerwear market in India is worth $5.8 billion i.e. Rs 48,123 crore. The percentage of innerwear in male and female category is 39% and 61% respectively. But now companies are worried due to declining sales.
Signs of recession can be detected
Some signs of recession are being considered. Recession can be detected by lipstick and underwear, lipstick sells more during recession. One expert, Leonard Lauder, discovered this principle. Therefore the sale of underwear decreases. This index was invented by Alan Greenspan in the 1970s.
