Luvme Hair Wig 2021 Market Summary

Luvme Hair Wig 2021 Market Summary

Luvme Hair, as the leading company of human hair wigs in the United States, summarized the two major difficulties the wig industry facing today. One is the shortage of lace, the other is the gradual lack of human hair. In recent years, the overall lace wig prices generally have an increase by 15% to 25% on account of the current shortage of lace supply on the wig market.

In terms of laces, the main origin of the Swiss laces used on Luvme Hair's undetectable lace wig is Switzerland. To prevent the spread of the virus, Switzerland reduced the lace export volume. Due to the increase of people's hair problems and the thriving of E-commerce, the overall demand for lace wigs has risen. No lace can be offered is becoming a problem for the entire wig industry at this moment. According to Luvme Hair's product manager Michael Li, " Because of the pandemic, we are also facing a short supply of lace, for which we had to reduce the sale of one of our star products — the undetectable lace wig. Also, we have made lots of attempts to come through the shortage of materials."

Luvme Hair launched the cap wig as their first step. This idea came from a customer's comment about a lace product promotional video. "Lace wig is expensive for me. Because I'm not good at cutting lace, there is another fee for me to find a hairstylist to install it. Do you guys consider launching cap wigs? "said Nancy, the customer of Luvme Hair. When it reached Luvme Hair's product department, the idea caught most of the employees' attention so they decided to implement cap wig. Cap wigs with large elastic bands instead of lace were soon introduced on the wig market. Even if Luvme Hair has increased the marketing promotions for cap wigs, it still can't be recognized by most customers in the meantime.

After doing a large amount of customer research, Luvme Hair found that the cap wig failed to be recognized by the market for its unnatural look and inflexibility for hairstyling. They tried to replace the large area of the elastic band with a headband. Besides, they selected different styles of headbands to decorate the elastic band of the wig. When Luvme Hair launched the headband wig, surprisingly, it achieved much love. Because of its convenience and beginner-friendly, it also attracted some customers who were discouraged from installing lace wigs to headband wigs. "We're so glad to see that headband wigs can hit the current trend. On one side, it has turned the crisis of lace shortage into an opportunity. On the other side, the success has reminded us that the market cannot always be led by a single product. So we will continue to launch our new headband wigs and constantly optimize the restructuring of our products," said Michael Li, Luvme Hair's product manager.

When it comes to raw materials,along with the general improvement of the people's living standard in the areas virgin hair is offered, the supply of raw materials is gradually decreasing. Facing the trend of online wig purchases accelerated by the Covid-19 disease, Luvme Hair shares their concerns: "We are more worried about the long-term sustainability of quality hair collection. In the modern era of constant technological innovation, the market should accelerate the speed of enhancing the chemical synthetic hair materials and trying to introduce simulated real hair. So we are now accelerating our research and development of alternative raw materials for real hair, with the hope to bring revolutionary products to consumers in the near future."