Albany, NY -- (SBWIRE) -- 01/30/2014 -- Consumers aged 25-34 are starting to dominate fashion accessories purchases, so retailers need to make sure that their products and retail offering meet their needs. This growing demographic are strongly influenced by new trends and show the most interest in purchasing accessories online, highlighting the growth potential for the online fashion accessories market.

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Table of Content

Introduction

Definition
Abbreviations

Executive Summary

The market
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
Figure 2: Fashion accessories brand personality – micro image, December 2013
The consumer
Clothes and shoes are main priorities
Figure 3: What extra money is spent on, October 2013
25-34s show growing interest in handbags
Figure 4: Recent purchase of accessories, by gender, October 2013
Value retailers remain most popular for accessories
Figure 5: Where fashion accessories are bought, by gender, October 2013
Low price is the main motivator
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
Figure 7: Factors that motivate purchases of handbags and costume jewellery, October 2013
What we think

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Issues and Insights

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

Trend: Second Skin
Trend: Experience is All
Futures: Old Gold

Market Environment

Key points
Population trends
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
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
Figure 10: What extra money is spent on, November 2013

Strengths and Weaknesses

Strengths
Weaknesses

Who's Innovating?

Key points
Clothing retailers launch accessory stores
Figure 11: Mango Touch, London’s One New Change
Retailers extend accessories range
Figure 12: Interior of M&S’s new accessories department at Pantheon store in London
Celebrity/designer collaborations
Figure 13: Holly Fulton clutch bag for Radley
Focus on quality
Ethical accessories
Figure 14: Topshop accessories department
New stores and pop-ups
Figure 15: Radley pop-up shop in Westfield London Stratford

Competitive Context

Key points
Accessories outperform other areas of fashion over last five years
Figure 16: UK retail value sales of clothing, footwear and accessories, 2008-13
Accessories account for 4% of total fashion market
Figure 17: UK retail value sales of clothing, footwear and accessories, as a percentage of total fashion sales, 2013

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