UK Fashion Accessories Market Report 2022
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The UK Fashion Accessories industry report identifies consumer attitudes towards fashion accessories trends, shopping behaviours, and innovations in accessories in the UK. This market report covers the fashion accessoires market size, market forecast, market segmentation and industry trends for the Fashion Accessories market in the UK.
Consumer spending on fashion accessories saw positive growth throughout 2021, with consumer confidence starting to return. However, the way consumers are shopping has changed significantly over the last 18 months. Purchases made via smartphone have increased, surpassing laptop purchasing, with younger generations driving this shift.
The luxury end of the market, particularly handbags, took a hit throughout the pandemic, especially with restrictions on inbound tourism. However, since the lifting of restrictions including those on social events, spending for accessories has made a return, as people treat themselves and spend their lockdown savings. Handbags remain popular, but with a shift towards working from home, more practical styles such as rucksacks are also seeing heightened demand.
The expansion of non-specialist retailers into fashion accessories continues to threaten specialists’ share of the market. 2021 saw handbag brands who rely on department stores have suffered as they disappear. The category continues to be increasingly fragmented, with brands continuing to invest heavily into digital marketing through social media. The supply chain crisis and the rising costs for retailers as well as increasing inflation and energy prices affecting the cost of living will present a new challenge for the industry.
COVID-19 has further fuelled interest in the circular economy and second-hand fashion accessories, as well as more transparency within retailers’ supply chains and product sourcing. Retailers are answering calls for sustainability, with materials such as vegan leather are increasingly appearing within the market, as well as mushroom leather and apple waste leather. The expansion of the rental and resale market also continues to offer an opportunity for growth within the fashion accessories sector.
Read on to discover more details or take a look at all of our UK Clothing market research.
Products: Handbags, costume jewellery, belts, scarves, hats, gloves, ties, hair accessories.
Brands: ASOS, Amazon, Primark, Next, Ted Baker, TK Maxx, Mulberry, Louis Vuitton, Poundland, Longchamp, Accessorize, Claire’s, Monsoon Accessorize, Radley, Furla, Debenhams, Michael Kors, Coperni, Miomojo, Stella McCartney, Harvey Nichols, Net-A-Porter, Vestiaire Collective, Cocoon, Gucci, Prada, Christian Dior Couture, Loewe, Coach, Aspinal Of London, Fendi, Givenchy, Miu Miu Fashions, Richemont Group, Dolce & Gabbana, Newchic, Ettiger London, Balenciaga, Longchamp, Original Buff Sa, Tods Boutique, Dune Group.
This report, written by Utku Tansel, a leading analyst in the Retail sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Fashion accessories are set to make a considerable recovery in 2022, mainly driven by a return in demand for the luxury market. High street specialists continue to struggle, with the market for fashion accessories becoming increasingly fragmented. Accessories retailers must keep up with advances in social media and online purchasing, as well as sustainable innovations with their products if they are to remain relevant.
Fiona McDonald
Research Analyst
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.