About the market:

While sales of men’s accessories grew by just 5% over the review period, sales of women’s accessories rose by 68%. Handbags were the star performers within the women’s sector having reached the £350 million line, an impressive rise of 61%. With £156 million in sales, more than half of all male accessory purchases in 2005 accounted for ties. Obviously, the recent decline in tie sales, due to casual dressing and dressing down at work, has been stemmed and market values have rallied to regain 2000 levels.

Rising PDI and consumer expenditure have provided a fillip to a sector that relies on discretionary spending for value growth. With an ageing population in the UK, it will be important in the future to find a way to reach these consumers and tempt them into more regular accessory purchase.

About Mintel’s report:

Mintel’s new market intelligence report provides the user with a fresh insight into a booming market.

Compiling together the most sought-after trend data and authoritative, independent market analysis, it offers you a vital way of fully understanding the UK retail market for fashion accessories. It also offers you unique findings from exclusive consumer research; invaluable information that will enable you to tailor your business to real consumer demand. Mintel’s research report has been designed to help you:

Keep track of UK retail sales for fashion accessories and get to grips with the factors influencing the market’s size and dynamics

Anticipate the effects of the male consumer fully embracing the fashion swirl and assess how ready your brand is to meet demand

Evaluate the prospects for the own-label market

Track the retail market’s key operators, their market share, their brands and their positioning

Pinpoint market potential before your competitors

Track consumer buying behaviour in the accessories market and compare to other key markets revolving around discretionary spending

Find out where consumers are shopping for their accessories

Discover what consumers really look for in the accessory market

Establish which are the market’s key target audiences and enhance your targeting and promotion strategy

Identify effective approaches for finding a year round appeal

Measure market forecasts for the next five years.

Intriguing findings include:

13% of respondents describe fashion accessories as a must have.

While 20% of consumers had not bought any accessories over the last year, only 15% said that they never buy any accessories at all, leaving plenty of scope to encourage these dormant purchasers to buy more frequently.

More than one quarter of consumers do not consider designer labels to be worth the money, compared to just 8% who are prepared to pay the premium for a top brand.