Published on : Feb 07, 2018
Albany, New York, February 7, 2018: The various ongoing developments in the fashion retail industry reflect the optimism of the market and indicate the immense potential for growth and innovation. Presently, fashion accessories are very popular today for both young girls and boys. With a prime focus on UK market, a new study titled “Fashion Accessories - UK - January 2018” has been added to the wide database of Market Research Hub (MRH). The study offers comprehensive analysis and forecast on the future direction of this market. A profiling of key companies operating in this sector is also offered to readers. According to the study key findings, Accessories market grow 3.6% in 2017 and latest fashion accessory trends driving purchasing decisions for consumers, which could positively impact market growth in the coming years.
The research provides a 360-degree view of the fashion accessories market in the UK by examining market dynamics, analyzing trends and understanding consumer attitudes towards these accessories. The report begins with an executive summary of the market sharing key details with market-related data such as issues and insights, market size and forecast value and volume until the end of 2022. For the accurate results, the study considers best- and worst-case forecast of UK value sales of fashion accessories, value sales of accessories, by segment for the forecast period 2017 to 2022; and quarterly trended data for fashion accessories purchased in the last three months, December 2016-September 2017.
In addition, the report also offers a detailed competitive landscape, highlighting the launch activity and innovation; advertising and marketing activity of some of the leading players in the region. The financial analysis and company strategy of the players has been discussed in detail in the report.
Major Insights from the Study
As per the consumer perspective, Women are very particular when it comes to fashion and will tend to be more concerned about what they wear than their male counterparts. Among various accessories, handbags are considered as most popular fashion accessory purchased last year. As per the report, 54% of women bought a handbag, while there is also increase in men buying man bags.
It has been analyzed that Consumers like to see accessories and clothes together. In 2017, Jewelry sales are almost flat. At present, Gift buying is a key driver of sales in U.K. fashion accessories market. While women aged 16-24 are the main fashion accessories buyers, they show slight brand loyalty which means that brands need to do more to compete for their spending. Some women favor own-brand over designer bags, on the other hand, female 35-54s prioritize unique design over low price.
Another fact is that young people prioritize fashion, while others spend more on leisure. Analysts suggest that Given that fashion trends drive purchasing among young women, retailers and brands need to focus more on appealing to them with trend-led, frequently updated accessories.
Presently, over half buy accessories online. This could impact the online channel sales in U.K. Further it has been analyzed that luxury brands see strong sales and designer brand positioning.
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