Is retail more inclusive today? According to Coresight Research’s latest report, inclusive categories are “gaining traction in the retail industry” as accelerating efforts on the inclusivity front “are impacting the structures and policies of companies, brand representation on shelves, suppliers, product categories and the content that companies and brands post on social media.
Deborah Weinswig, CEO and Founder of Coresight Research, said in the report titled “Inclusiveness in Retail: Trends from 2021, Lessons for 2022,” that adaptive retail products for people with disabilities “will beyond clothes and shoes. Microsoft, Procter & Gamble and Unilever have launched products in technology, beauty and personal care. She noted that gender neutral merchandise has also expanded into various categories and retail sectors and said this “emerging category has doubled in major launches since June 2021 and two specialty retailers have opened gender neutral stores, Gilly Hicks for teens and PacSun for kids.”
Other developments include a plus-size market that continues to grow “with product line size extensions, category launches and designer collaborations,” Weinswig said, adding that retailers also include more diverse brands and suppliers, which we believe will contribute to increased spending in inclusive categories as brands gain a foothold.
Increased efforts have been made to embed diversity and inclusiveness into retail organizations and their strategic goals. “We believe this integration has helped retailers be more innovative and has given inclusiveness more traction across categories, sectors and retail operations,” Weinswig explained. “We are seeing innovations in design, packaging and sizing – all of which have helped expand inclusive categories to new product lines. Many brands and retailers have committed to integrating more diverse brands and suppliers as a cornerstone for the growth of inclusive categories.”
Weinswig said she expects inclusive retail to continue to grow this year through “core initiatives” in 2021.
In the report, which included Erin Schmidt, the company’s senior analyst, as a contributor, inclusivity was described as influencing and affecting long-term change in the retail market, “driving growth of a billion dollars across multiple product categories, including adaptive clothing, genderless designs, extended sizes, and beauty for all ages, races, and genders.
“Inclusive products and business practices are no longer an afterthought but a necessity for retailers and brands to compete,” the report’s authors said. “Inclusive categories are growing, which shows that the industry is starting to listen to the consumer. By understanding recent trends and establishing inclusive practices and strategies, brands and retailers can capitalize on the dynamics of the inclusive space and improve brand reputation with consumers.
Increasing inclusivity is now a priority for brands and retailers.
Courtesy image.
Weinswig said adaptive retail goes beyond shoes and apparel and will continue to grow. She estimates that spending on the adaptive market totaled $1.3 billion in 2021, “but the total potential addressable market was worth $64.3 billion.”
The report notes that in December 2021, P&G Beauty prototyped an easy-open, winged lid with braille text and a high-contrast product label for the Olay line. “In the spirit of inclusiveness and open accessibility, [P&G Beauty] shares its design with other beauty product manufacturers,” Weinswig said.
She also said that in the first half of last year “there were six gender-neutral launches from major brands and retailers spanning accessories, apparel, footwear, cosmetics and jewelry.” These included genderless shoes from Mr. L, a genderless children’s store from PacSun, and “technically fitted underwear and sleepwear from Cosabella.”
“In 2021, five major retailers – JC Penney, Macy’s, Nordstrom, Target and Ulta Beauty – invested in diverse beauty through strategic priorities, black-owned brand growth plans and incubator programs” , says the report. “Retailers added more than 95 black-owned brands to their portfolios, with solutions spanning skincare, haircare, color cosmetics and fragrances. They also pledged to continue their commitment to inclusive beauty beyond 2021.”
