Table of Contents
Issues in the Market
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- Main themes
- Definition
- Explanations
- Abbreviations
Future Opportunities
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- Cool consumer (trend from Inspire)
- Extend my brand (trend from Inspire)
- The internet could boost the accessory market
- Changing consumers want value
Market in Brief
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- Slowdown in market growth
- Accessories
- Influences
- Threats
- Accessories have competition from jewellery
- Unemployment is increasing
- Too much choice, too few ‘must have’ trends
- Lack of innovation in visual merchandising
- Lack of advertising
- Belts and ties combinations
- Opportunities
- Accessories are ageless
- Creative trend
- Gift opportunity
- Male opportunity
- Internet opportunity
- Retailer winners and losers
Internal Market Environment
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- Key points
- Clothing fashion influences
- Influence of celebrities
- Fashion media influence
- Potential for gifts
- Expenditure on handbags is polarised
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- Figure 1: Trends in expenditure on handbags, 2006-08
- Decline in spending on other accessories
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- Figure 2: Trends in expenditure on gloves, belts and other accessories, 2006-08
- Consumer attitudes – personal appearance
- Continuing interest in the latest fashions
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- Figure 3: Trends in agreement with personal appearance, 2004-08
- Spending downturn on clothing could be an accessories opportunity
- Consumer attitudes – clothing and accessories
- Accessories have competition from jewellery
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- Figure 4: Trends in agreement with clothing, 2004-08
Broader Market Environment
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- Key points
- GDP, PDI and consumer spending
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- Figure 5: GDP, PDI and consumer expenditure, 2004, 2006, 2008, 2009, 2010, 2012 and 2014
- Weak Pound means higher prices
- Rising unemployment
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- Figure 6: UK workforce, men and women, employed and unemployed, 2004, 2009 and 2014
- Changing age structure
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- Figure 7: Age groups, 2004, 2009 and 2014
- ABC1s continue to grow
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- Figure 8: Demographic groups, men and women, 2004-14
Strengths and Weaknesses
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- Strengths
- Weaknesses
Who’s Innovating?
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- Key points
- Luxury goes green
- Bhs capitalises on occasions
- John Lewis taps into skinny trend
- Counter-intuitive pricing strategy
- Sainsbury’s shows women how
- Limited editions are a hit
Competitive Context
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- Key points
- Fashion accessories – not immune from spending downturn
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- Figure 9: UK retail sales of men’s and women’s fashion accessories, 2004-09
- Make-up – pamper factor will keep growth steady
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- Figure 10: UK retail value sales, make-up, costume jewellery and footwear, 2004-09
- Costume jewellery – strong fashion trends
- Footwear – inexpensive fashion styles stifle value growth
Market Size and Forecast
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- Key points
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- Figure 11: Total UK fashion accessories market, at current and constant 2009 prices, 2004-14
- Market overview
- Women’s accessories
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- Figure 12: UK retail sales, women’s accessories, at current and constant 2009 prices, 2004-14
- Moving on from the ‘It bags’
- Women’s hats have stalled
- Fashion drives women’s belts
- Women’s scarves and shawls – a hit in 2008
- Women’s gloves are off
- Ties drive men’s accessories
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- Figure 13: UK retail sales, men’s fashion accessories, by value at current and constant 2009 prices, 2004-14
- Smart and skinny trends drive tie sales
- Men’s belts start to tighten
- Men’s hats make a statement
- Men’s gloves lack appeal
- Men’s scarves need to be shown off
Retail Market Share
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- Key points
- Overview
- Retail market shares – women’s accessories
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- Figure 14: Retail sales, women’s accessories, by outlet type, 2007-09
- Retail market shares – men’s accessories
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- Figure 15: Retail sales, men’s accessories, by outlet type, 2007-09
The Consumer – What Fashion Accessories They Buy
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- Key points
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- Figure 16: Fashion accessories bought in the last 12 months, June 2009
- The young dominate purchasing
- Affluence affects ties and scarves
- Cross marketing of accessories
The Consumer – Where They Buy Accessories
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- Key points
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- Figure 17: Where fashion accessories are bought, 2008 and 2009
- Winners and losers
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- Figure 18: Winning and losing retailers, in the % of consumers buying accessories from them, 2004-09 and 2008-09
- 2009 retailers bought from
- M&S needs to make a stronger fashion statement
- Primark and New Look’s opportunity is men
- The internet cannot be ignored
- Further analysis
The Consumer – Attitudes towards Buying Handbags
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- Key points
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- Figure 19: Attitudes towards buying handbags, June 2009
- A wardrobe of bags
- Tie buying polarisation
- Adding value and emotion
Consumer Typologies
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- Figure 20: Consumer typologies, June 2009
- Cheapies (46%)
- Fashionistas (39%)
- Qualitistas (15%)
- Where the consumer groups buy accessories
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Retailer Competitor Analysis
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- Key points
- Very competitive market
- Specialists
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- Figure 21: Accessory specialists comparison, 2009
- Non-specialists
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- Figure 22: Selected non-specialist accessory retailers’ comparison, 2009
- Key analysis
Brand Communication and Promotion
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- Key points
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- Figure 23: Total adspend, fashion accessories market, 2004-08
- Low spend on advertising
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- Figure 24: Main media spend, fashion accessories, 2004-08
Companies and Products
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- Accessories specialists
- Accessorize
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- Figure 25: Monsoon UK & Eire, financial performance and store numbers, 2003-07
- Claire’s Accessories (UK) Ltd
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- Figure 26: Claire’s Accessories (UK) Ltd, financial performance, 2004-08
- Tie Rack London
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- Figure 27: Frangi Investments Ltd, financial performance, 2004-08
- Non-specialists
- Marks & Spencer
- Next
- Bhs
- Clothing specialists
- Arcadia Group
- Aurora Fashions (formerly Mosaic Fashions)
- Oasis
- Coast
- Karen Millen
- Warehouse
- Other clothing specialists
- H&M
- New Look
- River Island
- Value retailers and supermarkets
- Primark
- Matalan
- Peacocks
- TK Maxx
- George at Asda
- Tesco
- Sainsbury’s
- Department stores
- Debenhams
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- Figure 28: Debenhams brand and own-brand accessories offer, 2009
- John Lewis
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- Figure 29: John Lewis brand and own-brand accessories offer, 2009
- House of Fraser
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- Figure 30: House of Fraser, brand and own-brand accessories offer, 2009
- Other department stores
- Sports retailers
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- Figure 31: Main sports retailers, accessories positioning and offer, 2009
- Mail order/internet
- Littlewoods Shop Direct
- Otto Group
- N Brown
- Boden
- Internet retailers
- Asos.com
- Netaporter.com
- Specialist accessories internet retailers
Appendix – Internal Market Environment
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- Figure 32: Personal appearance, by demographics, 2008
- Figure 33: Clothing, by demographics, 2008
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Appendix – Market Size and Forecast
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- Figure 34: UK retail sales of handbags, by value at current and constant 2009 prices, 2004-14
- Figure 35: UK retail sales of women’s hats, by value at current and constant 2009 prices, 2004-14
- Figure 36: UK retail sales of women’s belts, by value at current and constant 2009 prices, 2004-14
- Figure 37: UK retail sales, women’s scarves/shawls, by value at current and constant 2009 prices, 2004-14
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- Figure 38: UK retail sales, women’s gloves, by value at current and constant 2009 prices, 2004-14
- Figure 39: UK retail sales, men’s ties, by value at current and constant 2009 prices, 2004-14
- Figure 40: UK retail sales of men’s belts, by value, at current and constant 2009 prices, 2004-14
- Figure 41: Retail sales, men’s hats by value at current and constant 2009 prices, 2004-14
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- Figure 42: Retail sales, men’s gloves, by value at current and constant 2009 prices, 2004-14
- Figure 43: Retail sales, men’s scarves, by value at current and constant 2009 prices, 2004-14
- Factors used in the forecasts
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Appendix – What Fashion Accessories They Buy
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- Figure 44: Fashion accessories bought, by demographics, June 2009
- Figure 45: Men: fashion accessories bought, by age, working status and socio-economic group, June 2009
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Appendix – Where They Buy Accessories
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- Figure 46: Accessories bought, from outlets, by demographics, June 2009
- Figure 47: Where consumers have bought fashion accessories, 2004, 2005, 2008 and 2009
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- Figure 48: Accessories bought, from outlets, by demographics, June 2009
- Figure 49: Accessories bought, from outlets, by demographics, June 2009
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- Figure 50: Accessories bought, by outlets, June 2009
- Figure 51: Accessories bought, by outlets, June 2009
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- Figure 52: Accessories bought, by outlets, June 2009
- Figure 53: Fashion accessories bought, by outlets, June 2009
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Appendix – Attitudes towards Buying Handbags
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- Figure 54: Attitudes, by bought accessories, June 2009
- Figure 55: Attitudes, by accessories, June 2009
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- Figure 56: Bought accessories from outlets, by fashion accessories bought, June 2009
- Figure 57: Attitudes towards buying handbags, by demographics, June 2009
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- Figure 58: Fashion accessories bought, by attitudes towards buying handbags, June 2009
- Figure 59: Attitudes, by fashion accessories bought, June 2009
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- Figure 60: Bought accessories from outlets, by attitudes towards buying handbags, June 2009
- Figure 61: Most popular attitudes towards buying handbags, by bought accessories from outlets, June 2009
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Appendix – Consumer Typologies
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- Figure 62: Outlets bought from, by target groups, June 2009
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- Figure 63: Target groups, by demographics, June 2009
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- Figure 64: Attitudes towards buying handbags, by target groups, June 2009
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