Table of Contents
Executive Summary
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- The market
- Accessories grow 3.4% in 2015
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- Figure 1: Value sales of fashion accessories in the UK, at current prices, 2010-20
- Handbags account for 50% of market
- French are the main visitors to the UK
- Companies, brands and innovations
- Radley is the most trusted brand, while Gucci is seen as the most stylish
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- Figure 2: Attitudes towards and usage of selected brands, September and October 2015
- Designer brands see weaker sales
- New developments
- Increasing activity in wearable tech accessories
- The consumer
- Half of women bought a handbag in last year
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- Figure 3: Types of fashion accessories purchased in the last 12 months, October 2015
- Big rise in online purchasing of accessories
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- Figure 4: Where fashion accessories were bought from in the last 12 months, October 2015
- Majority plan fashion accessories purchases
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- Figure 5: Main reason for buying the last fashion accessory purchased, October 2015
- High demand for better online images
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- Figure 6: Agreement with attitudes towards shopping for fashion accessories, October 2015
- 40% of Millennials prefer designer bags
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- Figure 7: Agreement with attitudes towards handbags/manbags – ‘I prefer designer bags’, by generations, October 2015
- What we think
Issues and Insights
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- How is the fashion accessories market performing?
- The facts
- The implications
- What can retailers/brands to do encourage purchasing?
- The facts
- The implications
- How are the latest innovations changing the market?
- The facts
- The implications
The Market – What You Need to Know
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- Accessories grow 3.4% in 2015
- Handbag sales slow
- Costume jewellery sees low sales growth
- Embellishments have been a key trend
- Tourism impacts the luxury market
- Consumers prioritise leisure activities over fashion spend
- Rising personal technology ownership
Market Size and Forecast
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- Accessories grow 3.4% in 2015
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- Figure 8: Best- and-worst-case forecast of value sales of fashion accessories, 2010-20
- Handbag sales slow
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- Figure 9: Value sales of fashion accessories in the UK, at current prices, 2010-20
- Forecast methodology
Market Segmentation
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- Handbags account for 50% of market
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- Figure 10: UK value sales of fashion accessories, by segment, 2012-15
- Jewellery
- Hats
- Scarves
- Belts
- Hair accessories
- Embellishments have been a key trend
Market Drivers
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- Tourism figures
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- Figure 11: % change of inbound tourism to the UK, by world region, January-October 2014-January-October 2015
- French are the main visitors to the UK
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- Figure 12: Top 20 countries, by volume of visits to the UK, 2014
- Those from the US are the biggest spenders
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- Figure 13: Top 20 countries ranked, by amount spent when visiting the UK, 2014
- Handbags are the most purchased accessory
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- Figure 14: Spending habits for clothing, footwear and accessories, March 2015 and September 2015
- Inflation in the price of accessories
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- Figure 15: Consumer prices inflation: accessories and clothing, November 2014-November 2015
- Consumers prioritise leisure activities over fashion spend
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- Figure 16: What extra money is spent on, October 2014 and October 2015
- Rising personal technology ownership
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- Figure 17: Personal ownership of consumer technology products, by age, September 2015
- Population
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- Figure 18: Trends in the age structure of the UK population, 2010-20
Key Players – What You Need to Know
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- Designer brands see weak sales
- Focus on the UK
- Increasing activity in wearable tech accessories
- Young fashion retailers dedicate most space to accessories.
- Radley is the most trusted brand
- Gucci stands out as most stylish brand
Space Allocation Summary
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- Young fashion retailers dedicate most space to accessories
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- Figure 19: Space allocation estimates for fashion accessories, October 2015
- Footwear retailers grow focus on accessories
Competitive Strategies
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- Financial outlook
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- Figure 20: Key financials of the main players in the fashion accessories market, 2013-15
- Retail offering and brand positioning
- Digital activity
- New developments
Launch Activity and Innovation
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- Increasing activity in wearable tech accessories
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- Figure 21: Ringly with black onyx, November 2015
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- Figure 22: Bellabeat’s Leaf, November 2015
- Use of 3D printing
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- Figure 23: WonderLuk pop-up at Topshop
- High street and designer collaborations
- Use of social media
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- Figure 24: Burberry Snapchat campaign
Advertising and Marketing Activity
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- Category advertising spend up
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- Figure 25: Recorded above-the-line, online display and direct mail total advertising expenditure on handbags, hats and gloves, jewellery, leather goods and neckwear, by leading UK fashion accessories brands and retailers, 2010-15
- Share of advertising spend
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- Figure 26: Percentage of recorded above-the-line, online display and direct mail total advertising expenditure on handbags, hats and gloves, jewellery, leather goods and neckwear, by leading UK fashion accessories brands and retailers, by media type, 2014
- What we’ve seen in 2015
- Nielsen Media Research coverage
Brand Research
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- What you need to know
- Brand map
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- Figure 27: Attitudes towards and usage of selected brands, September and October 2015
- Key brand metrics
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- Figure 28: Key metrics for selected brands, September and October 2015
- Brand attitudes: Radley is most trusted brand
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- Figure 29: Attitudes, by brand, September and October 2015
- Brand personality: Mulberry perceived as exclusive
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- Figure 30: Brand personality – macro image, September and October 2015
- Gucci is most stylish brand
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- Figure 31: Brand personality – micro image, September and October 2015
- Brand analysis
- Gucci revival helps brand image
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- Figure 32: User profile of Gucci, September 2015
- Michael Kors seen as an accessible brand
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- Figure 33: User profile of Michael Kors, September 2015
- Mulberry is highly trusted
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- Figure 34: User profile of Mulberry, October 2015
- Radley has a good reputation
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- Figure 35: User profile of Radley, October 2015
- Burberry viewed as a classic
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- Figure 36: User profile of Burberry, September 2015
- Cambridge Satchel Company seen as urban
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- Figure 37: User profile of The Cambridge Satchel Company, October 2015
- Anya Hindmarch seen as vibrant
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- Figure 38: User profile of Anya Hindmarch, October 2015
The Consumer – What You Need to Know
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- Half of women bought a handbag in last year
- 25-44s drive costume jewellery purchases
- Young buy most fashion accessories
- Big rise in online purchasing of accessories
- Majority plan fashion accessories purchases
- Gift buying
- High demand for better online images
- Growing demand for tech fashion accessories
- 40% of Millennials prefer designer bags
- Nearly three quarters buy discounted bags
Purchasing of Fashion Accessories
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- Half of women bought a handbag in last year
- Young men buy manbags for themselves
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- Figure 39: Types of fashion accessories purchased in the last 12 months, October 2015
- 25-44s drive costume jewellery purchases
- Driving accessories purchases among men aged 25+
- Millennials buy most fashion accessories
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- Figure 40: Repertoire of purchases of three or more fashion accessories, by age, October 2015
Where Fashion Accessories are Bought
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- Value retailers lead for accessories
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- Figure 41: Where fashion accessories were bought from in the last 12 months, October 2015
- Big rise in online purchasing of accessories
- Young women prefer to buy from fashion stores
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- Figure 42: Where fashion accessories were bought from in the last 12 months, by age, October 2015
- Accessorize loses popularity
What Motivates People to Buy Fashion Accessories
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- Majority plan fashion accessories purchases
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- Figure 43: Main reason for buying the last fashion accessory purchased, October 2015
- Young women treat themselves to accessories
- Women more likely than men to buy on impulse
- Gift buying
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- Figure 44: Burberry Regent Street store
Attitudes towards Shopping for Fashion Accessories
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- High demand for better online images
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- Figure 45: Agreement with attitudes towards shopping for fashion accessories, October 2015
- Using outfit recommendations to drive demand from men aged 25-44
- Growing demand for tech fashion accessories
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- Figure 46: Agreement with “I would be interested in a fashion accessory that incorporates the latest technology”, by age, October 2015
- 25-34s interested in personalising accessories
Attitudes towards Handbags
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- Figure 47: Attitudes towards handbags/manbags, October 2015
- 40% of Millennials prefer designer bags
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- Figure 48: Agreement with attitudes towards handbags/manbags – ‘I prefer designer bags’, by generations, October 2015
- Young women tend to buy non-leather handbags
- Nearly three quarters buy discounted bags
- 18-24s drawn to small bags
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Appendix – Market Size and Forecast
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- Forecast Methodology
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Consumer research methodology
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