Victoria’s Secret Marketing Strategy 2024: A Case Study

Victoria’s Secret, the leading lingerie retailer in the US, has continually evolved its marketing strategy to stay ahead in the competitive retail industry. With a market share revenue of ~$7 billion and over a thousand stores in the US, Victoria’s Secret has successfully positioned itself as a premium lingerie brand, offering high-quality products at luxury price points.

One of the key elements of Victoria’s Secret’s marketing strategy is its focus on strengthening the core, boosting growth, and changing the foundation of its business. The company aims to expand its global footprint, enhance sales and profitability in existing international markets, and drive further growth through strategic acquisitions like the Adore Me brand.

Victoria’s Secret’s wide range of product offerings, including bras, panties, sleepwear, activewear, fragrances, and beauty products, caters to diverse customer preferences. Moreover, the brand strategically selects store locations in high-traffic areas and prominent urban locations, ensuring maximum visibility and accessibility to its target audience.

Recognizing the importance of inclusivity and diversity in its marketing campaigns, Victoria’s Secret has transitioned its marketing strategy to feature diverse models and celebrate women of all backgrounds and body types. However, the brand’s rebranding efforts have faced challenges around authenticity and consumer perception as it strives to reshape its image.

The Love Cloud Collection by Victoria’s Secret emphasizes inclusivity and diversity, featuring models from underrepresented groups. This collection showcases the brand’s commitment to creating a more inclusive and empowering environment for its customers.

The return of Victoria’s Secret’s fashion show, transitioning to a documentary format, is expected to be a test for the brand’s revitalization efforts and emotional connection with consumers. By showcasing their lingerie to a broad audience during this event, the company can promote new offerings at discounted prices and generate excitement among its target audience.

Understanding the demographics and psychographics of their target audience, which primarily includes women aged 18-34 with a keen interest in fashion, beauty, and self-expression, is crucial for Victoria’s Secret’s successful brand positioning. The brand conducts extensive market research and utilizes data analysis to identify the ideal customer, considering factors like income level, lifestyle choices, and shopping behaviors.

Victoria’s Secret’s marketing strategy also focuses on catering to women from the middle-income group, ensuring accessibility and affordability. In addition, the brand embraces diversity and inclusivity, appealing to different segments of its target audience by offering a diverse range of products that cater to various body types, sizes, and style preferences.

Overall, Victoria’s Secret’s marketing strategy revolves around creating a distinctive image of glamour, luxury, and femininity. The brand’s commitment to diversity, equity, and inclusion is reflected in its messaging to celebrate and empower women of all backgrounds and body types. Consistency in branding is a critical factor in the company’s successful marketing strategy, ensuring uniformity across all channels, building brand recognition, and establishing a strong brand identity.

Key Takeaways:

• Victoria’s Secret aims to strengthen its core, boost growth, and change the foundation of its business.
• The brand focuses on expanding its global footprint, acquiring new brands, and enhancing sales and profitability.
• Victoria’s Secret has a wide range of product offerings and strategically selects store locations for maximum visibility.
• The company has transitioned its marketing strategy to feature diverse models and embrace inclusivity.
• Victoria’s Secret’s rebranding efforts have faced challenges around authenticity and consumer perception.

Growth Strategy

Victoria’s Secret, the leading player in the lingerie industry, has devised a comprehensive growth strategy to maintain its dominance and adapt to evolving consumer preferences. The brand recognizes the need for core strengthening, brand recognition, and international expansion to stay ahead of its competitors and cater to diverse customer demands.

To strengthen its core business, Victoria’s Secret plans to refresh its brand identity and product offerings. The company is revamping its marketing approach to embrace inclusivity, body positivity, and diverse representation, aligning with the current shift in consumer perceptions of beauty and sexiness. By featuring curvy models like Iskra Lawrence and Sophie Tweed-Simmons, Victoria’s Secret aims to resonate with a wider customer base and cultivate a stronger emotional connection.

Furthermore, Victoria’s Secret aims to enhance brand recognition through product-driven entertainment. The brand’s renowned fashion show has been an integral part of its marketing strategy, generating immense buzz and creating a unique customer experience. By investing in captivating and innovative events, Victoria’s Secret aims to increase brand visibility and capture the attention of potential customers globally.

International expansion is another crucial aspect of Victoria’s Secret’s growth strategy. With its strong market presence in the United States, the brand aims to replicate its success in international markets by leveraging its brand equity and customer loyalty. Victoria’s Secret plans to enhance sales and profitability in existing international markets while exploring opportunities for expansion in untapped regions.

Adore Me Acquisition

As part of its growth strategy, Victoria’s Secret recently acquired Adore Me, a rapidly growing lingerie brand. This acquisition provides Victoria’s Secret with synergistic opportunities to accelerate its growth trajectory. Adore Me’s tech-enabled capabilities and successful track record of catering to diverse customer preferences align well with Victoria’s Secret’s goals of inclusivity and brand expansion.

The acquisition of Adore Me also positions Victoria’s Secret to tap into new consumer segments and markets. The combination of Victoria’s Secret’s established brand reputation and Adore Me’s innovative approach could lead to exciting product offerings, enhanced customer experiences, and increased market share.

By implementing its growth strategy, Victoria’s Secret aims to align with changing consumer trends, strengthen its market position, and ultimately drive long-term success in the competitive lingerie industry.

4Ps of Victoria’s Secret

Victoria’s Secret, founded in 1977 by Roy Raymond, has become a global powerhouse in the lingerie industry. With a diverse product mix that includes lingerie, beauty products, swimwear, sportswear, accessories, and the sub-brand Victoria’s Secret PINK, the company has established itself as a leader in the market.

Victoria’s Secret employs a strategic product strategy that focuses on offering high-quality and luxurious products. The brand’s premium pricing policy reflects its commitment to maintaining brand loyalty and positioning itself as a luxury lingerie retailer.

In terms of pricing strategy, Victoria’s Secret utilizes a tiered approach to product differentiation, offering different lines at various price points. This allows the brand to cater to a wide range of customers while maintaining its reputation for exclusivity and luxury.

When it comes to promotion strategy, Victoria’s Secret employs various tactics to engage and entice customers. The brand is known for its high-profile advertising campaigns featuring iconic models and angels, which create buzz and generate interest in its products. In addition, Victoria’s Secret utilizes social media platforms for active engagement, leveraging influencers and user-generated content to expand its reach.

The brand also employs email marketing as a key promotional tool, sending personalized offers and updates to its loyal customer base. Furthermore, Victoria’s Secret offers promotional sales and discounts, such as semi-annual sales and limited-time offers, to incentivize purchases and drive sales.

Place strategy is another crucial aspect of Victoria’s Secret’s success. The company strategically selects store locations, both independently owned and company-owned, in high-traffic areas to ensure maximum visibility and accessibility for its target audience. With 18 independently owned stores and 1,017 company-owned stores located worldwide, Victoria’s Secret not only caters to its customers in physical brick-and-mortar stores but also maintains a strong online presence through its e-commerce platform.

To summarize, Victoria’s Secret’s success can be attributed to its effective and well-rounded 4Ps strategy. Through its product mix, premium pricing strategy, promotional campaigns, and strategic store locations, the brand has solidified its position as a global leader in the lingerie industry, catering to the diverse needs and preferences of its target audience.

Victoria’s Secret Rebranding Efforts

In response to criticism and declining sales, Victoria’s Secret embarked on a comprehensive rebranding journey aimed at reshaping its image and embracing inclusivity. The company recognized the importance of adapting to evolving societal values and the growing demand for diverse representation in the fashion industry. Through its rebranding efforts, Victoria’s Secret sought to redefine its marketing strategy, incorporating feminist messaging and embracing a more inclusive approach to appeal to a wider customer base.

One significant step in Victoria’s Secret’s rebranding journey was the acquisition of AdoreMe, a direct-to-consumer (DTC) intimates brand with 1.2 million existing customers. This strategic investment served as an indication of Victoria’s Secret’s commitment to revamping the brand and expanding its customer base. The acquisition showcased the brand’s determination to drive growth and change, distancing itself from its previous reputation and signaling a shift in priorities.

In its marketing campaigns, Victoria’s Secret took deliberate steps to prioritize diverse representation. The brand made a conscious effort to feature models from various ethnicities, body types, and backgrounds, striving to reflect the diversity of its global customer base. The “Icons” campaign, for example, brought together iconic supermodels from Victoria’s Secret’s past alongside newer faces, blending tradition with modern values of inclusivity.

However, Victoria’s Secret’s rebranding journey has faced challenges and questions regarding authenticity. Critics have highlighted the need for the brand to ensure that its efforts to modernize its image go beyond mere marketing messages. Tangible changes in product offerings and overall brand strategy are crucial to complement the inclusive marketing campaigns and demonstrate a genuine commitment to diversity and feminist messaging.

To achieve successful rebranding, Victoria’s Secret can look to brands like Tiffany and Abercrombie & Fitch for inspiration. Tiffany’s “Not Your Mother’s Tiffany” rebranding campaigns aimed to attract younger consumers, employing dramatic strategies like collaborations with artists such as Jay Z and Beyoncé. Similarly, Abercrombie & Fitch distanced itself from its previous image of fatphobia and discrimination by targeting new consumer segments and actively working towards a more inclusive brand identity.

To ensure a successful and lasting rebranding, Victoria’s Secret needs to communicate its new brand identity, mission, and values effectively. Introducing new product lines that align with revised brand values, refining the brand image, and targeting specific customer segments are vital steps. It is crucial for Victoria’s Secret to take a consistent and authentic approach to align messaging with actual actions, enhancing consumer perception and rebuilding trust.

The transformation of Victoria’s Secret into a more inclusive and modern brand will be an ongoing process that requires restructuring at the executive level while maintaining a commitment to the independence of the brand. Efforts to communicate the brand’s new direction and values should be supported by concrete actions to ensure a seamless transition and resonate with consumers.

One notable event aimed at promoting Victoria’s Secret’s mission on a global scale is the highly anticipated return of the Victoria’s Secret Fashion Show. After a five-year hiatus, the fashion show will feature performances by acclaimed artists such as Doja Cat, amplifying the brand’s message of empowerment and inclusivity.

In the increasingly competitive landscape of the lingerie industry, brands like Neiwai, Savage x Fenty, and Skims have also made significant strides. Neiwai, a Chinese underwear brand launched in 2012, raised $100 million in Series D funding in 2021 and opened a flagship store in Singapore. Rihanna’s brand, Savage x Fenty, founded in 2018, is seeking an IPO with a valuation of $3 billion, while Kim Kardashian’s brand, Skims, aims to go public with a valuation of $4 billion.

As Victoria’s Secret charts its rebranding path, it is essential for the brand to learn from its setbacks and take into account the valuable lessons from other successful rebranding campaigns. By prioritizing genuine inclusivity, transparent communication, and consistent actions that align with its revised brand values, Victoria’s Secret can position itself for a successful reemergence in the market.

Love Cloud Collection

The Victoria’s Secret Love Cloud Collection is a groundbreaking lingerie line that represents the brand’s commitment to inclusivity and diversity. With an advertising campaign featuring models from diverse backgrounds, body types, and experiences, the Love Cloud Collection aims to showcase the beauty of all women, regardless of age, race, or ability.

The Love Cloud Collection offers a wide range of options, including bras and panties modeled by eighteen women. In its initial launch, the collection features six different silhouettes and three matching panties, ensuring that there is something for everyone.

Victoria’s Secret understands the importance of providing comfortable and inclusive lingerie options. The Love Cloud Collection is designed with fully adjustable straps and smoothing technology, ensuring all-day comfort and support. Sizes range from 32A to 40DDD for bras and XS to XXL for panties, catering to diverse body shapes and sizes.

Pricing for the Love Cloud Collection is accessible, with bras starting at $39.50 and panties at $16.50. This affordable price range allows a wide range of customers to experience the comfort and style of Victoria’s Secret lingerie.

Victoria’s Secret has made significant strides towards inclusivity and diversity in recent years. The brand now offers bras and lingerie for fuller figures, with sizes ranging from 36C to 42G. Additionally, the stores have expanded their size range, providing bands up to 44 and cups up to G to accommodate even more customers.

The Love Cloud Collection not only revolutionizes Victoria’s Secret’s approach to inclusivity but also aligns with the brand’s commitment to representation in its marketing strategy. By showcasing diverse figures and featuring notable individuals like Megan Rapinoe, Priyanka Chopra, and Valentina Sampaio, Victoria’s Secret breaks away from traditional beauty standards and embraces the uniqueness and individuality of all women.

In the Love Cloud campaign, models from various professions, including firefighting, pilates instruction, and artistry, are celebrated. This diverse representation further highlights the brand’s dedication to inclusivity and sets an example for other companies to follow.

Sofí Jirau, the first Victoria’s Secret model with Down syndrome, and Miriam Blanco, one of the first models with disabilities to be featured in a Victoria’s Secret campaign, are trailblazers who inspire and empower individuals around the world.

The Love Cloud Collection serves as a powerful tool for Victoria’s Secret to reconnect with consumers by showcasing the diversity and beauty of women wearing its products. With its focus on inclusivity, comfort, and functionality, the Love Cloud Collection paves the way for a more inclusive and diverse future in the world of lingerie.

Victoria’s Secret Fashion Show

The Victoria’s Secret Fashion Show, once an iconic and highly anticipated event in the fashion industry, is making a comeback after its discontinuation in 2019. This grand showcase of extravagant lingerie and elaborate wings has been a significant part of Victoria’s Secret’s brand identity and marketing strategy for years. However, the return of the fashion show goes beyond its entertainment value. It is a crucial element of the brand’s ongoing revitalization efforts.

Recognizing the need to adapt to changing consumer preferences, Victoria’s Secret has decided to take a different approach this time. Instead of a traditional fashion show, the brand will release a feature-length documentary highlighting the behind-the-scenes preparations for the event. This strategic shift reflects the brand’s commitment to innovation and its desire to resonate with its target audience in new and engaging ways.

The Victoria’s Secret Fashion Show is not just about showcasing glamorous lingerie; it has become a platform for promoting female empowerment. The brand aims to celebrate both inner and outer beauty, inspiring women to feel confident and empowered. By emphasizing female empowerment, Victoria’s Secret hopes to connect with consumers on a deeper level and foster a sense of inclusivity.

However, the brand faces fierce competition in the lingerie industry, particularly from brands like Savage x Fenty and Neiwai, which have embraced body diversity and inclusivity from the start. These brands have successfully tapped into the demands of modern consumers, who seek representation and inclusiveness in the fashion industry. To regain its competitive edge, Victoria’s Secret must navigate this landscape and redefine what it means to be a lingerie brand in today’s world.

The return of the Victoria’s Secret Fashion Show is a pivotal moment for the brand, signaling its commitment to reestablishing its position as a leader in the lingerie market. It will be interesting to see how Victoria’s Secret combines tradition and innovation in this new format, while adapting to the evolving expectations of its target audience.

Overall, the Victoria’s Secret Fashion Show serves as a powerful marketing tool for the brand’s revitalization efforts. It enables Victoria’s Secret to showcase its lingerie designs, promote female empowerment, and create a buzz around the brand. By leveraging the show’s popularity and incorporating new strategies, Victoria’s Secret aims to captivate its target audience, gain a competitive edge, and pave the way for future success in the constantly evolving world of fashion.

What Marketers Can Learn

Victoria’s Secret’s rebranding efforts provide valuable lessons for marketers looking to succeed in the ever-evolving landscape of the retail industry. One of the key takeaways is the importance of authenticity in marketing. Victoria’s Secret recognized the need to embrace inclusivity and diversity, aligning their brand with the values of their target audience.

In a survey conducted in 2021, it was found that 2 out of 3 Americans stated that their social values influenced their shopping choices. This highlights the significance of brands addressing the social concerns of their customers. Victoria’s Secret’s shift towards inclusivity was met with positive reception, as 59% of the surveyed consumers expressed more loyalty towards brands that promote diversity and inclusion in their advertisements.

By featuring the VS Collective, which includes professionals like Megan Rapinoe, Paloma Elsesser, and Priyanka Chopra Jonas, Victoria’s Secret demonstrated their commitment to embracing diversity and authenticity. This move helped them connect with a broader range of customers and make them feel represented and valued.

Additionally, Victoria’s Secret’s rebranding journey emphasizes the importance of a customer-centric approach. Listening to customers and adapting accordingly is crucial for better serving diverse audiences. Younger generations, in particular, have higher expectations of companies taking progressive social stances, and Victoria’s Secret recognized this demand.

Another important lesson is the need to implement innovative marketing strategies beyond traditional methods. Victoria’s Secret successfully expanded its reach through strategic partnerships and collaborations. They also recognized the significance of digital platforms, with mobile apps to boost their mobile sales and a strong online presence with millions of followers on social media.

Victoria’s Secret Vs Competitors

Victoria’s Secret’s focus on authenticity, inclusivity, and a customer-centric approach has allowed them to adapt to changing consumer preferences and remain relevant in the market. Marketers can learn from their rebranding journey and apply these lessons in their own marketing strategies to create meaningful connections with their customers and drive business success.

Victoria’s Secret Marketing Strategy: Conclusion

In conclusion, Victoria’s Secret has established itself as a leading brand in the lingerie industry, leveraging effective marketing strategies, a strong brand image, and celebrity endorsements. The brand has successfully engaged with customers through multiple touchpoints, including retail stores, online platforms, social media, fashion shows, and targeted advertising campaigns. However, Victoria’s Secret must address challenges such as the lack of inclusivity in marketing campaigns and the need to adapt to changing consumer values.

To secure future prospects, Victoria’s Secret should focus on rebranding efforts that embrace diversity and cater to a wider range of demographics. By authentically representing inclusivity, the brand can resonate with younger audiences and tap into the growing e-commerce market. Leveraging digital marketing and social media platforms will continue to enhance brand reach and drive sales.

As the industry evolves, Victoria’s Secret must embrace industry trends, such as influencer marketing and collaborations, to create aspiration and desire among consumers. The discontinuation of the Victoria’s Secret Fashion Show should pave the way for new innovative campaigns and exclusive collections that create excitement and promote sales.

Overall, with a customer-centric approach and a willingness to adapt, Victoria’s Secret can navigate the changing landscape of the lingerie industry, overcome the challenges it faces, and continue to thrive as a glamorous and desirable brand.