3. $21Bin revenues
2016 (US)*
6%YOY growth -
double that of core sizes
$53BProjected market size
by 2020
14+is considered
plus-size
67%of American women are
plus-sized
16Most common size in
women's apparel*
*NPD
KEY STATS
4. "Launching plus-sizes took
commitment, and it took passion
and focus. But it was not hard."
ASCENA - ANN TAYLOR LOFT
"Sorry it took us so long."
THE REFORMATION
EXISTING PLAYERS GETTING IN THE GAME
Sizes 16-26 Dropped February 2018
Sizes up to 22
Dropped March 2018
5. "If a piece from our core
collection no longer fits you
within a year of purchase, due to
size fluctuation, we’ll replace it
with your new size - for free."
UNIVERSAL STANDARD
NEW PLAYERS
Sizes up to 22
Dropped March 201
DIA & CO
"The first step was
figuring out how we
could make shopping
most comfortable for
our customers, and
that was shopping
from home. So the
subscription format
came from there."
6. WHY'S THIS
SO HARD?
Fit. Pricing. Marketing.
"Many companies use a standard
size like a 6 for fit models and
scale up from there. The problem
is that human bodies don't scale
up uniformly." *
Which means larger sizes often
are stuck with poorly-fitting items.
*Quartz
The fact that there is still a discussion on
whether or not a brand should charge a
different price for a size 0 versus a 20 shows
just how far the conversation hasn't
progressed. Charging varying prices for
different sizes leaves you open to negative
consumer perceptions.
Moreover, catering to a wider range of sizes
can actually be leveraged as a strategic
sourcing advantage.
It's challenging that both for some
consumers and brands, being plus-
sized is considered a state to escape
rather than embraced. Which has
resulted in brands creating a lot of
subpar product.
We applaud influencers like Gabrielle
Gregg, Tess Holliday, and Ashley
Graham for changing the conversation
to #droptheplus.
8. SHARE OF ASSORTMENT: PLUS-SIZE
Current One Year Ago
Fast Fashion
Value
Mid-Tier
Dept. Store
Premium
Dept. Store
94% 6% 7%93%
24%76% 21%79%
21%79%21%79%
8%92% 7%93%
OVERALL16%84% 15%85%
Core Plus
The Takeaway: On the
aggregate, little has
changed. Only 16% of
SKUs are plus-size, which
represents a one
percentage point share
increase since last year.
Which sectors cater best
to plus size? Mid-tier and
value - who had 20%+ of
available SKUs in the plus
range.
[Retailers Selling both Plus + Core Sizes]
9. PLUS-SIZE CATEGORY AVAILABILITY
The Takeaway: From an assortment point-of-view, plus and core sizes have
similar compositions (within the same retailers). It's when you look at plus
specialized retailers that you see more items in the intimates and swim categories
which equals a potential missed opportunity for mainstream retailers.
[Retailers Selling both Plus + Core Sizes]
10. FRESH PRODUCT DROP RATE
Dotted = Core Sizes Solid = Plus Sizes
The Takeaway: Yes, there
are slightly higher rates of
refresh in core sizes, but
the good news is that plus
doesn’t lag too far
behind. As you zoom in
closer to the present, you
generally see that the
timings of plus and core
size product drops are
similar.
In fact, in November of
last year, we saw three of
our four focus categories
have higher rates of
refresh for plus sizes
relative to core.
[Retailers Selling both Plus + Core Sizes]
12. HISTORIC AVERAGE PRICE COMPARISON
Dotted = Core Sizes Solid = Plus Sizes
The Takeaways: Three
things of note here. The
first is that average prices
are higher for core sizes
versus plus because there
are simply fewer plus
offerings in play - and most
importantly - fewer
premium price points for
the plus shopper.
Second, and tying into this,
is that the average price
difference gap between
plus and core has narrowed
from one year ago - a
positive indicator.
Last, in dresses and jeans
the price gap between the
two size ranges remains the
greatest, and we think this
translates to revenue
growth opportunities in
these plus-size categories.
[Retailers Selling both Plus + Core Sizes]
13. HISTORIC AVERAGE DISCOUNT PENETRATION
Dotted = Core Sizes Solid = Plus Sizes
The Takeaways: We've
historically seen higher
likelihood of discounting
in plus sizes at retailers
catering to both ranges.
While discounting has
tapered off since the
beginning of the year,
(dresses are currently
almost even between the
two sizing sets) the
higher likelihood of
discounting in plus
indicates some product
market mismatch.
[Retailers Selling both Plus + Core Sizes]
14. HISTORIC AVERAGE DISCOUNT AMOUNT
Dotted = Core Sizes Solid = Plus Sizes
The Takeaways: Once
again, we see historic
discount amounts at
higher rates for plus
versus core.
Zooming to present, the
gap between plus and
core has narrowed, but
it remains greatest in
intimates and narrowest
in dresses.
[Retailers Selling both Plus + Core Sizes]
15. HISTORIC SELL-OUT RATES BY SECTOR
Fast Fashion
Core Sizes Plus Sizes
Value
Mid-Tier Dept. Store
Premium Dept. Store
11% 10.4%
18.5%17.5%
14% 12.1%
17.3%14.2%
The Takeaway: Each sector
told a different story. In fast
fashion and mid-tier
department stores, core sizes
had a higher sell-out rate,
while in value and premium
department stores had higher
rates of product selling out in
plus size ranges.
A solid argument for more
premium price points in plus?
We think so.
17. AVERAGE PRICES: PLUS SIZE RETAILERS
The Takeaways: It's
worth noting that for
plus specialized retailers
in our analysis, almost all
the market sits at the
mid-tier and value price
points. Premium, as
mentioned previously,
remains a major
untapped market
opportunity.
Over the past year, the
price points haven't
changed significantly.
Dresses command the
highest average prices
amongst our focus
categories.
18. HISTORIC AVERAGE DISCOUNT PENETRATION:
PLUS SIZE RETAILERSThe Takeaways:
Likelihood of discounting
at plus specialized
retailers remains quite
high (greater than 60%),
and hasn't seen the
current decrease we saw
at retailers with mixed
sizing in their
assortments. Not even
specialized retailers are
immune from the
discounting bug, it
seems.
Intimates have the
lowest historic likelihood
of discounting - perhaps
because of the lack of
mainstream retailers'
offerings in this category.
19. HISTORIC AVERAGE DISCOUNT AMOUNT:
PLUS SIZE RETAILERS
The Takeaways:
Continuing the story line
of higher likelihood of
discounting, actual
discount amounts are also
higher than their
counterparts catering to
both size ranges.
With the exception of
intimates, average
discount amounts
average roughly 25%.
Discounting in the mid-
tier and value sectors
seems inescapable
regardless of specialty.
20. FRESH PRODUCT DROP RATES
FOR PLUS-SIZE CATEGORIES
Historic Monthly Average
The Takeaways: Surprisingly, retailers selling both size ranges generally outpaced plus
specialized retailers in new (plus-sized) product drops. One pieces were the only
category where plus-specialized outpaced mixed retailers.
The other categories where the gap was narrowest were outerwear and dresses.
21. SELL-OUT RATES
FOR PLUS-SIZE CATEGORIES
Historic Monthly Average
The Takeaways: Again, mixed retailers show that they are selling out of plus sized
product at a higher rate across categories than their plus specialized counterparts. Suits
were one winning category for the plus specialists, and the other smallest gaps were in
intimates and jeans.
22. RECOMMENDATIONS
Where's the premium price point in plus?
The fact that there are still so few options at higher price points indicates that
brands' and retailers' mindsets haven't yet fully changed. Moreover, the data shows
that at premium price points, plus sizes outpaced their core sized counterparts in
sell-through.
Overall, there are far too few plus options in mainstream retail.
Seriously, though, what's it going to take? As companies like Ascena readily admit it
wasn't "that difficult" to extend their size ranges, what's the problem here? Is this a
mindset issue or a lack of dedicated resources and internal expertise to get fit,
pricing, and the messaging on point? The market opportunity is there - and ripe for
disruption.
23. RECOMMENDATIONS
Despite the overall market opportunity, plus specialists in the mid-tier are also
addicted to discounting.
While they might not have started it, plus specialized retailers are having the same
challenges pulling themselves out of the discounting spiral that so plagues the entire
mid-sector of the US apparel market. It seems they could be paying closer
opportunity to the category level opportunities and design details that could draw in
the fashion-savvy plus shopper. The appetite for great product knows no
demographic nor size boundaries - and specialists need to be keeping up with this.
24. One Size Does Not Fit All.
Insights Tailored To Your Market.
www.stylesage.co
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