Table of Contents
Introduction
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- Definition
- Abbreviations
Executive Summary
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- The market
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- Figure 1: Best- and worst-case forecast of UK value sales of fashion accessories, 2008-18
- Accessories market continues to grow
- Market factors
- Growing 25-34s to dominate fashion accessories market
- Ageing population presents opportunities
- Technology products encroach on accessories spend
- Leisure activities take priority over accessories and clothing
- Companies, brands and innovation
- Brand research
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- Figure 2: Fashion accessories brand personality – micro image, December 2013
- The consumer
- Clothes and shoes are main priorities
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- Figure 3: What extra money is spent on, October 2013
- 25-34s show growing interest in handbags
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- Figure 4: Recent purchase of accessories, by gender, October 2013
- Value retailers remain most popular for accessories
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- Figure 5: Where fashion accessories are bought, by gender, October 2013
- Low price is the main motivator
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- Figure 6: Importance of factors for consumers choosing one retailer over another when buying fashion accessories, October 2013
- 25-34s mainly buy handbags and jewellery for a special occasion
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- Figure 7: Factors that motivate purchases of handbags and costume jewellery, October 2013
- What we think
Issues and Insights
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- How can retailers drive sales of other fashion accessories apart from handbags?
- The facts
- The implications
- Which demographics dominate purchases of accessories?
- The facts
- The implications
- Which retailers and brands stand out in the sector?
- The facts
- The implications
- How retailers can stand out in a price sensitive market?
- The facts
- The implications
Trend Applications
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- Trend: Second Skin
- Trend: Experience is All
- Futures: Old Gold
Market Environment
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- Key points
- Population trends
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- Figure 8: Trends in the age structure of the UK population, 2008-18
- Growing 25-34s to dominate fashion accessories market
- Growth potential for male fashion accessories
- Ageing population presents opportunities
- Socio-economic groups
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- Figure 9: Forecast adult population trends, by socio-economic group, 2008-18
- Technology products encroach on accessories spend
- Leisure activities take priority over accessories and clothing
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- Figure 10: What extra money is spent on, November 2013
Strengths and Weaknesses
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- Strengths
- Weaknesses
Who's Innovating?
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- Key points
- Clothing retailers launch accessory stores
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- Figure 11: Mango Touch, London’s One New Change
- Retailers extend accessories range
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- Figure 12: Interior of M&S’s new accessories department at Pantheon store in London
- Celebrity/designer collaborations
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- Figure 13: Holly Fulton clutch bag for Radley
- Focus on quality
- Ethical accessories
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- Figure 14: Topshop accessories department
- New stores and pop-ups
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- Figure 15: Radley pop-up shop in Westfield London Stratford
Competitive Context
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- Key points
- Accessories outperform other areas of fashion over last five years
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- Figure 16: UK retail value sales of clothing, footwear and accessories, 2008-13
- Accessories account for 4% of total fashion market
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- Figure 17: UK retail value sales of clothing, footwear and accessories, as a percentage of total fashion sales, 2013
Market Size and Forecast
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- Key points
- Market continues to grow
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- Figure 18: Best- and worst-case forecast of UK value sales of fashion accessories, 2008-18
- The future
- Fashion accessories sales to rise 30% by 2018
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- Figure 19: Value sales of fashion accessories, 2008-18
- Factors used in the forecast
Segment Performance
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- Key points
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- Figure 20: UK retail sales of fashion accessories, by sector, 2012 and 2013
- Handbags
- Costume jewellery
- Hats
- Scarves
- Belts
Space Allocation Summary
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- Key points
- Space allocations: Detailed estimates
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- Figure 21: Space allocation estimates for fashion accessories, September 2013
- Retail product mix
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- Figure 22: Estimated sales breakdown for fashion accessories, 2012/13
- Estimated sales densities
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- Figure 23: Major retailers sales densities for fashion accessories, 2013
Retailer Profiles
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- Accessorize
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- Figure 24: Accessorize store, London
- Background
- Financial performance and strategy
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- Figure 25: Financial performance of Monsoon Accessorize Limited, 2011 and 2012
- Retail offering and brand positioning
- Recent developments and marketing
- Claire’s Accessories
- Background
- Financial performance and strategy
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- Figure 26: Financial performance of Claire’s Accessories UK Limited, 2012 and 2013
- Retail offering and brand positioning
- Recent developments and marketing
- Mulberry
- Background
- Financial performance and strategy
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- Figure 27: Financial performance of Mulberry Group plc, 2012 and 2013
- Retail offering and brand positioning
- Recent developments and marketing
- Radley
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- Figure 28: Radley pop-up store in Westfield Stratford
- Background
- Financial performance and strategy
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- Figure 29: Financial performance of Radley + Co. Limited, 2011 and 2012
- Retail offering and brand positioning
- Recent developments and marketing
- Swarovski
- Background
- Financial performance and strategy
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- Figure 30: Financial performance of Swarovski UK Limited, 2011 and 2012
- Retail offering and brand positioning
- Recent developments and marketing
Brand Communication and Promotion
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- Key points
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- Figure 31: Main monitored media advertising expenditure on fashion accessories, by main fashion accessories brands and retailers, 2009-13
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- Figure 32: handbag designed by Laura Bailey for Radley for Spring/Summer 2013
Brand Research
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- Brand map
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- Figure 33: Attitudes towards and usage of brands in the fashion accessories sector, December 2013
- Correspondence analysis
- Brand attitudes
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- Figure 34: Attitudes, by fashion accessories brand, December 2013
- Brand personality
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- Figure 35: Fashion accessories brand personality – macro image, December 2013
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- Figure 36: Fashion accessories brand personality – micro image, December 2013
- Brand experience
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- Figure 37: Fashion accessories brand usage, December 2013
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- Figure 38: Satisfaction with various fashion accessories brands, December 2013
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- Figure 39: Consideration of fashion accessories brands, December 2013
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- Figure 40: Consumer perceptions of current fashion accessories brand performance, December 2013
- Brand index
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- Figure 41: Fashion accessories brand index, December 2013
- Target group analysis
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- Figure 42: Target groups, December 2013
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- Figure 43: Fashion accessories brand usage, by target groups, December 2013
- Group One – Conformists
- Group Two – Simply the Best
- Group Three – Shelf Stalkers
- Group Four – Habitual Shoppers
- Group Five – Individualists
The Consumer – What Fashion Items Extra Money is Spent On
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- Key points
- Clothes and shoes are main priorities
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- Figure 44: What extra money is spent on, October 2013
- Young people place more importance on handbags
- Costume jewellery and scarves compete
The Consumer – Recent Purchase of Accessories
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- Key points
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- Figure 45: Recent purchase of accessories, October 2013
- 25-34s show growing interest in handbags
- Costume jewellery
- Seasonal accessories
- Tie purchases remain steady
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- Figure 46: Recent purchase of accessories, by gender, October 2013
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- Figure 47: Recent purchase of accessories, by age, October 2013
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- Figure 48: Recent purchase of accessories, July 2012 and October 2013
- 25-34s are the highest users
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- Figure 49: Repertoire of fashion accessories bought in the last 12 months, by gender, October 2013
The Consumer – Where Fashion Accessories Are Bought
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- Key points
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- Figure 50: Where fashion accessories are bought, by gender, October 2013
- Value retailers remain most popular for accessories
- M&S draws more men for accessories purchases
- Department stores increase their appeal
- 25-34s buy more accessories from women’s fashion stores
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- Figure 51: Where fashion accessories are bought, by age, October 2013
- Accessorize
- Where men shop
- Over half have bought accessories online
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- Figure 52: Where fashion accessories are bought, in-store and online, October 2013
- Designer shoppers
The Consumer – What Encourages Consumers to Buy Accessories
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- Key points
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- Figure 53: Importance of factors for consumers choosing one retailer over another when buying fashion accessories, October 2013
- Low price is the main motivator
- Over half have purchased discounted accessories
- Older people seek quality
- Nearly half of women want good selection of brands
- 25-34s most attracted to retailers for their online services
- One in ten under-35s favour apps for purchases
- Over a third look for best delivery options
- ABs value store environment
- Main customer motivators by retailers purchased from
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- Figure 54: Consumers who consider low price to be one of the factors that motivates them to buy fashion accessories, by retailer where accessories are bought, as a percentage above or below average, October 2013
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- Figure 55: Consumers who consider sale/special offer to be one of the factors that motivates them to buy fashion accessories, by retailer where accessories are bought, as a percentage above or below average, October 2013
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- Figure 56: Consumers who consider made from good quality materials to be one of the factors that motivates them to buy fashion accessories, by retailer where accessories are bought, as a percentage above or below average, October 2013
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- Figure 57: Consumers who consider store environment to be one of the factors that motivates them to buy fashion accessories, by retailer where accessories are bought, as a percentage above or below average, October 2013
- Designer shoppers look for online options
The Consumer – What Motivates Purchases of Handbags and Costume Jewellery
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- Key points
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- Figure 58: Factors that motivate purchases of handbags and costume jewellery, October 2013
- Discounts main reason for handbag and jewellery purchases
- Two fifths motivated by replacement
- 25-34s are motivated by a special occasion
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- Figure 59: Factors that motivate purchases of handbags and costume jewellery, by age, October 2013
- Gifting market
- Fashion trends
- In-store information
- Over-55s buy on impulse
- Men interested in innovative items
- Under-25s look for accessories to accompany outfit
- Findings of research on costume jewellery
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- Figure 60: Attitudes towards shopping in-store and online for costume jewellery and precious metal jewellery, July 2013
Appendix – Market Size and Forecast
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- Figure 61: Best- and worst-case forecast of UK value sales of fashion accessories, 2013-18
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Appendix – Brand Research
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- Figure 62: Brand usage, December 2013
- Figure 63: Brand commitment, December 2013
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- Figure 64: Brand momentum, December 2013
- Figure 65: Brand diversity, December 2013
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- Figure 66: Brand satisfaction, December 2013
- Figure 67: Brand attitude, December 2013
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- Figure 68: Brand image – macro image, December 2013
- Figure 69: Brand image – micro image, December 2013
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- Figure 70: Profile of target groups, by demographics, December 2013
- Figure 71: Psychographic segmentation by target groups, December 2013
- Figure 72: Brand usage, by target groups, December 2013
- Brand index
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- Figure 73: Brand index, December 2013
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Appendix – The Consumer – What Fashion Items Extra Money is Spent On
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- Figure 74: Most popular what extra money is spent on, by demographics, October 2013
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- Figure 75: Next most popular what extra money is spent on, by demographics, October 2013
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Appendix – The Consumer – Recent Purchase of Accessories
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- Figure 76: Most popular recent purchase of accessories, by demographics, October 2013
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- Figure 77: Next most popular recent purchase of accessories, by demographics, October 2013
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- Figure 78: Factors that motivate consumers to buy accessories from a particular retailer, by most popular recent purchase of accessories, October 2013
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- Figure 79: Factors that motivate consumers to buy accessories from a particular retailer, by next most popular recent purchase of accessories, October 2013
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Appendix – The Consumer – Where Fashion Accessories Are Bought
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- Figure 80: Most popular where accessories are bought – In-store/Online, by demographics, October 2013
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- Figure 81: Next most popular where accessories are bought – In-store/Online, by demographics, October 2013
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- Figure 82: Other where accessories are bought – In-store/Online, by demographics, October 2013
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- Figure 83: Recent purchase of accessories, by most popular where accessories are bought – In-store/Online, October 2013
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- Figure 84: Recent purchase of accessories, by next most popular where accessories are bought – In-store/Online, October 2013
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- Figure 85: Recent purchase of accessories, by other where accessories are bought – In-store/Online, October 2013
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Appendix – The Consumer – What Encourages Consumers to Buy Accessories
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- Figure 86: Most popular factors that motivate consumers to buy accessories from a particular retailer, by demographics, October 2013
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- Figure 87: Next most popular factors that motivate consumers to buy accessories from a particular retailer, by demographics, October 2013
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Appendix – The Consumer – What Motivates Purchases of Handbags and Costume Jewellery
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- Figure 88: Most popular factors that motivate purchases of handbags and accessories, by demographics, October 2013
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- Figure 89: Next most popular factors that motivate purchases of handbags and accessories, by demographics, October 2013
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- Figure 90: Factors that motivate purchases of handbags and accessories, by most popular where accessories are bought – In-store/Online, October 2013
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- Figure 91: Factors that motivate purchases of handbags and accessories, by next most popular where accessories are bought – In-store/Online, October 2013
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- Figure 92: Factors that motivate purchases of handbags and accessories, by other where accessories are bought – In-store/Online, October 2013
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