Table of Contents
Executive Summary
-
- The market
- Fashion accessory spending is estimated to have grown by 5% in 2019
-
- Figure 1: Best- and worst-case forecast of UK value sales of fashion accessories, 2014-24
- Bags are the strongest growing category
-
- Figure 2: Value share of the fashion accessories market, by category, 2016-19
- Tourism numbers and spending declined in 2018, but has been on the up in 2019
-
- Figure 3: Trends in inbound tourism to the UK, 2003-18
- Companies and brands
- High-street specialists are struggling to stand out
- A new wave of fashion accessory collaborations enters the market
- Advertising spending on fashion accessories decreases in 2019
-
- Figure 4: Total above-the-line, online display and direct mail annual advertising expenditure on fashion accessories, 2016-19
- Premium brands seen as trustworthy and unique
-
- Figure 5: Attitudes towards and usage of selected brands, December 2019
- The consumer
-
- Figure 6: Types of fashion accessories purchased in the last 12 months, October 2017 and October 2019
- Most buy fashion accessories for themselves
-
- Figure 7: Who fashion accessories have been purchased for, October 2017 and October 2019
- Nearly three quarters bought fashion accessories in-store
-
- Figure 8: Channels used for buying fashion accessories, October 2019
- Many people have bought fashion accessories from a pureplay retailer
-
- Figure 9: Retailers where fashion accessories were bought in the last 12 months, October 2019
- When choosing accessories, there is considerable interest in price and longevity
-
- Figure 10: Reasons for purchasing fashion accessories, October 2019
- People are interested in innovations involving personalisation and sustainability
-
- Figure 11: Consumer interest in fashion accessory innovations, October 2019
- The convenience of online is most appealing to shoppers
-
- Figure 12: Behaviours of fashion accessory shoppers, October 2019
- What we think
Issues and Insights
-
- The rise of the affordable premium bag
- The facts
- The implications
- Hair accessories are having a moment
- The facts
- The implications
-
- Figure 13: An example of the hair accessories sold at July Child, 2019
- Technology could play a bigger role in fashion accessory retailing
- The facts
- The implications
-
- Figure 14: Virtual try on Scarfi app in Westfield London, 2016
The Market – What You Need to Know
-
- Fashion accessory spending is estimated to have grown by 5% in 2019…
- …but is forecast to slow over the next five years
- Bags are the strongest growing category
- Tourism numbers and spending declined in 2018
- Inflation on accessories was down in 2019
Market Size and Forecast
-
- Accessories grow by 4.7% in 2019
-
- Figure 15: Best- and worst-case forecast of UK value sales of fashion accessories, 2014-24
- The market is predicted to slow over the next five years
-
- Figure 16: Value sales of fashion accessories in the UK, at current and 2019 prices, 2014-24
- Forecast methodology
Market Segmentation
-
- Bags show strongest growth
-
- Figure 17: UK value sales of fashion accessories, by segment, 2014-19
- Figure 18: Value share of the fashion accessories market, by category, 2016-19
- The hair accessory trend has led to an uptick in spending
- Costume jewellery sales remain relatively flat
Market Drivers
-
- Tourism and spending declined in 2018…
-
- Figure 19: Trends in inbound tourism to the UK, 2003-18
- …but the weak Pound encouraged spending in 2019
-
- Figure 20: Average monthly exchange rate between GBP and USD, 2015-19
- Brexit is causing uncertainty
-
- Figure 21: Economic outlook consumer tracker, November 2019
- Many more are inclined to add to savings
-
- Figure 22: Trends in what extra money is spent on, October 2018 vs October 2019
- Inflation on accessories is in decline
-
- Figure 23: Consumer prices inflation: accessories and clothing, October 2018-October 2019
- Handbags are the most popular fashion accessory bought
-
- Figure 24: Items respondents have purchased for themselves, June 2019
Companies and Brands – What You Need to Know
-
- High-street specialists are struggling to stand out
- Luxury brands see sales growth
- Sustainability is a big focus for new launches
- Advertising spending on fashion accessories is down in 2019
- High-end brands seen as unique while high-street specialists suffer
Competitive Strategies
-
- Financial outlook
-
- Figure 25: Key financials of the main players in the fashion accessories market, 2015-18
- Mulberry struggling to stand out
-
- Figure 26: Mulberry’s AW19 campaign shot in a pub, 2019
- Investment leads to growth in international revenue for Furla
- Accessorize undergoes CVA
- Radley expands internationally as UK sales slow
- Lulu Guinness’ new digital strategy
Launch Activity and Innovation
-
- Retail openings
- Selfridges extends accessories halls in London and Manchester
-
- Figure 27: Selfridges extended accessories hall in Oxford Street store, 2018
- Gieves & Hawkes dedicates a room to Ettinger accessories
-
- Figure 28: Gieves & Hawkes new ‘Ettinger Accessories Room’, 2019
- Louis Vuitton re-opens its Bond Street store
-
- Figure 29: Inside Louis Vuitton’s new Bond Street store, 2019
- Furla opens third London store
-
- Figure 30: Furla’s new Westfield London boutique, 2019
- Nappa Dori opens first European store in London
-
- Figure 31: Nappa Dori’s first European store in Covent Garden, 2019
- Mulberry launches concept store in Leeds
- Pre-owned
- Luxury accessories resale retailer Xupes opens flagship store
- Vestiaire concession opens in Selfridges
-
- Figure 33: Vestiaire Collective concession, 2019
- Farfetch launches bag re-sale platform
- Product launches
- Radley launches men’s collection with Pat Cash
-
- Figure 34: Radley’s new Redchurch Street men’s collection, 2019
- Furla launches new ‘see-now-buy-now’ collection
-
- Figure 35: Furla unveils its new icon 1927 SS20 collection, 2019
- Eco-friendly
- Prada’s Re-Nylon bags
-
- Figure 36: Prada’s Re-Nylon bags, 2019
- New Look launches vegan range
-
- Figure 37: New Look teams up with The Vegan Society for new range, 2019
- Mulberry unveils its first 100% sustainable bag
-
- Figure 38: Mulberry’s Portobello Tote, 2019
- Retailers and brands ban exotics
- Collaborations
- Acne Studios and Mulberry launch collaboration
-
- Figure 39: Acne Studios & Mulberry collection, 2019
- Hype launches Disney collection
-
- Figure 40: Hype’s Disney accessories, 2019
- Cath Kidston launches Jungle Book range
-
- Figure 41: Cath Kidston Jungle Book collection, 2019
- Lulu Guinness collaborates with Christopher Brown
-
- Figure 42: Lulu Guinness x Christopher Brown collection, 2019
Advertising and Marketing Activity
-
- Advertising spend is down in 2019
-
- Figure 43: Total above-the-line, online display and direct mail annual advertising expenditure on fashion accessories, 2016-19
- Prada tops list of spenders, closely followed by Loewe
-
- Figure 44: Total above-the-line, online display and direct mail advertising expenditure on fashion accessories, by top 20 advertisers, 2014-19
- Loewe launches ‘An Otters Tale’ holiday campaign
-
- Figure 45: Still image from Loewe’s Christmas Capsule collection, 2019
- Rewired clothing cashes in on Love Island fame
- Delvaux brings in celebrities for its latest film campaign
- Fashion accessories brands continue to bank on print advertising
-
- Figure 46: Total above-the-line, online display and direct mail advertising expenditure on fashion accessories, by advertiser and media type, 2016-19
- Prada focuses on digital
-
- Figure 47: Pixie Geldof in Prada’s social media holiday campaign, 2019
- Figure 48: Total above-the-line, online display and direct mail advertising expenditure on fashion accessories, by advertiser and media type, 2019
- Nielsen Ad Intel coverage
Brand Research
-
- Brand map
-
- Figure 49: Attitudes towards and usage of selected brands, December 2019
- Key brand metrics
-
- Figure 50: Key metrics for selected brands, December 2019
- Brand attitudes: Radley appreciated for its quality
-
- Figure 51: Attitudes, by brand, December 2019
- Brand personality: Claire’s and Accessorize are the most accessible of the brands
-
- Figure 52: Brand personality – macro image, December 2019
- Michael Kors is viewed as stylish, but also perceived to be overrated
-
- Figure 53: Brand personality – micro image, December 2019
- Brand analysis
- Michael Kors increases its brand cachet since its takeover of other luxury brands
-
- Figure 54: User profile of Michael Kors, December 2019
- Radley customers give the brand a positive endorsement
-
- Figure 55: User profile of Radley, December 2019
- Accessorize benefits from high levels of awareness, but fails to stand out
-
- Figure 56: User profile of Accessorize, December 2019
- Most are unaware of Furla, but it is the brand most likely to be a favourite
-
- Figure 57: User profile of Furla, December 2019
- Claire’s has the highest levels of usage, but lowest number of recommendations
-
- Figure 58: User profile of Claire’s Accessories, December 2019
The Consumer – What You Need to Know
-
- The number of men buying bags has increased
- Fashion accessories are a popular purchase for children
- Many people have bought fashion accessories from a pureplay retailer
- When choosing accessories, people are interested in price and longevity
- People are interested in innovations of personalisation and sustainability
- The convenience of online is most appealing to shoppers
Fashion Accessories Purchased
-
- Buying patterns remain relatively similar over the last two years
-
- Figure 59: Types of fashion accessories purchased in the last 12 months, October 2017 and October 2019
- The number of men buying bags has increased
-
- Figure 60: Number of men who bought bags, by age group, October 2017 and October 2019
- Young shoppers are most likely to buy fashion accessories
-
- Figure 61: Repertoire of fashion accessories purchased, by generation, October 2019
Who Fashion Accessories are Bought For
-
- Most buy for themselves, but smaller accessories make for popular gifts
-
- Figure 62: Who fashion accessories have been purchased for, October 2017 and October 2019
- Men are more likely to buy for a partner
-
- Figure 63: Who fashion accessories have been purchased for, by gender, October 2019
- Fashion accessories frequently purchased for young children
-
- Figure 64: Number of people who bought fashion accessories for their children, by age of child in household, October 2019
Where Fashion Accessories are Bought
-
- Nearly three quarters bought fashion accessories in-store
-
- Figure 65: Channels used for buying fashion accessories, October 2019
- Pureplay retailers top place to buy fashion accessories
-
- Figure 66: Retailers where fashion accessories were bought in the last 12 months, October 2019
- Men are more likely to buy from luxury brands
-
- Figure 67: Purchasing from value retailers vs. luxury brands, by gender, October 2019
- Millennials are the most likely to shop around
-
- Figure 68: Repertoire of retailers fashion accessories were bought from, by generation, October 2019
Triggers for Purchasing Fashion Accessories
-
- Longevity and offers are most important factors
-
- Figure 69: Reasons for purchasing fashion accessories, October 2019
- Millennials are the most likely to want niche brands
-
- Figure 70: People most likely to buy fashion accessories that are handmade or made by independent brands, by generation, October 2019
Interest in Fashion Accessory Innovations
-
- Personalisation and sustainability pique consumers interests
-
- Figure 71: Consumer interest in fashion accessory innovations, October 2019
- Younger shoppers are particularly drawn to personalisation
-
- Figure 72: Up To You Anthology homepage, 2019
- The VIP model proves popular for accessories shoppers
- Men are more interested in technology innovations
-
- Figure 73: Interest in technology innovations for fashion accessories, by gender, October 2019
- Fashion rentals most popular for younger consumers
Behaviours of Fashion Accessory Shoppers
-
- The convenience of online appeals to shoppers
-
- Figure 74: Behaviours of fashion accessory consumers towards online shopping, October 2019
- Good customer service can make a retailer stand out from the crowd
-
- Figure 75: Behaviours of fashion accessory consumers towards shopping experiences, October 2019
- There is considerable consumer interest in more unique items
-
- Figure 76: Behaviours of fashion accessory consumers towards new products, October 2019
- Fashion accessory trends are moving towards small status items
-
- Figure 77: Behaviours of fashion accessory consumers towards fashion accessory trends, October 2019
Appendix – Data Sources, Abbreviations and Supporting Information
-
- Abbreviations
- Consumer research methodology
Appendix – Market Size and Forecast
-
- Forecast methodology
- Best- and worst-case forecast
-
- Figure 78: Forecast consumer spending on fashion accessories, 2019-24
Back to top