I may be the only guy to post in this, which is going to be very sad, the story I am about to tell..
So, my last gf, she loved Victoria's Secret. We would always make a stop in there (whenever at the mall) and shop there for a good 20 minutes...
I had never been with her to Fredricks but I know she shopped there a lot. I had asked her what was so different and had seen the different items from each store. She was not too much into the whole Lingerie thing, more so high quality bra / panties. I know that VS is a good hit on my wallet. Ended up getting her $200 worth of stuff which equaled like 3 items... however she preferred Fredricks (actually now I am just learning the full name, as she referred to it as Fredricks), but simply put, she liked Fredricks more for quality and seemed to like VS more for fragrances, replacement bras, outer relax wear, etc etc...