Reward Loyalty to Retain Legacy

The rising demand for athleisure had already dampened the denim wear market when came the pandemic and the demand from fitted denims tilted towards lounge wear and sportswear. Legacy denim brands have also been facing issues of growing competition and a shift in customer loyalty. But, their extensive experience of operating in the segment does not allow them to be bogged down; so, they've devised strategies that keep customers coming back for more.

- Vedika Negi

According to a report by Grands View Research, the global denim jeans market size was valued at US$64.62 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 6.81 per cent from 2019 to 2025. Stylish, versatile, durable, snug and low-maintenance, yet, denim, particularly jeans, has frequently been affected by several factors both environmental and combative. Denim wear brands, for a long time now, have thrived on a customer base that has been loyal to them for years. From brand legacy to settling with the perfect fit, there have been innumerable reasons for a consumer to experiment less and stick to a particular brand. But that was a time when there were a limited number of brands available. Today, the market is full of new denim wear players offering what the consumer is looking for. With recent changes, be it in consumer preference, shopping experience, digitalisation or birth of younger brands, traditional denim brands are facing challenges that they might not have anticipated.

It is a known fact in the industry that keeping existing customers from leaving the brand is more cost effective than acquiring new ones. For denim wear brands that have built their businesses into legacies, this comes as a blessing in disguise as their USP, which is their heritage, can make it easier. But, the rising competition in the market tends to create a different picture. Or does it?