Abstract
Over the past two years, market value has grown strongly, largely due to the
phenomenal success of handbags. Celebrities and designers have been the major
influences in defining handbags as objects of desire.
Accessories have been the means to democratise luxury brands, providing a
relatively low-priced entry point to designer brands. Nowhere is this more
evident than in handbags. However, if consumers cannot afford a Fendi bag,
they will find a ‘Fendi-inspired’ bag on the high street.
Retailers are quick to translate the catwalk looks and own-brand accessories
have sold extremely well as a result.
‘Selective extravagance’ - the art of spending the bare minimum on
some accessories while splashing out on one expensive item (perhaps a designer
bag) is something many consumers swear by. This way they get the best of both
worlds.
Constraints to growth have been the seasonal nature of some accessories
(notably scarves and gloves) and emerging deflationary pressures from cheap
imports and fierce competition.
Every report of Mintel' s Market Intelligence series provides a thorough
analysis of the market, looking at:
- Market Drivers
- Market Size and Trends
- Market Segmentation
- The Supply Structure
- Advertising and Promotion
- Distribution
- The Consumer
- The Future
- Forecast
Table of Contents
Issues in the Market
- Main themes
- - Womenswear Retailing - UK, Retail Intelligence, July 2006
Market in Brief
- Growth continues
- Own-label steers market
- Handbags drive sales
- Out in all weathers
- Green for go
- The year ahead
- Bright future
Internal Market Environment
- Key points
- Fashion
- The ‘It-bag’
- Democratic designer
- Posh accessories
- Value retailers
- Figure 1: Sales via clothing specialists and value clothing specialists
(excluding VAT), at current prices, 2002-07
Broader Market Environment
- Key points
- Upwardly mobile population
- Figure 2: Forecast adult population trends, by socio-economic group,
2002-12
- PDI and consumer expenditure
- Figure 3: PDI and consumer expenditure, at constant 2002 prices, 2002-12
- Female demographics
- Figure 4: Percentage change in the age structure, by age group, female
population - UK, 2002-07 and 2007-12
- Working women
- Figure 5: Working population - women, in millions, 2002-12
- Holidays
- Figure 6: Holiday bookings - UK and overseas, 2002-07
Competitive Context
- Key points
- Other female markets
- Figure 7: Comparisons with other female markets, 2002-07
- Figure 8: Summary of market strategies in other female markets, 2006/07
Strengths and Weaknesses in the Market
Market Size and Forecast
- Key points
- Continuing growth
- Figure 9: Retail sales of women' s accessories, UK, at current and
constant 2002 prices, 2002-08
- Fashion fuels sales
- Total womenswear
- Figure 10: UK retail sales of all womenswear, at current and constant
2002 prices, 2002-07
- Forecast
- Figure 11: Retail sales of women' s accessories, UK, at current and
constant 2007 prices, 2007-12
- Market to reach £1 billion
- Segment forecast
- Figure 12: Retail sales of hats, scarves/shawls and gloves - UK, 2002-12
- Figure 13: Retail sales of handbags and belts - UK, at current and
constant prices, 2002-12
- Factors used in the forecast
Market Share
- Key points
- Figure 14: UK retail sales of women' s accessories (excluding handbags) -
branded vs own-label, 2003-07
- Own-label leads
- Bags of choice
- Figure 15: UK retail sales of handbags - premium vs branded vs
own-label, 2007
- The future
Segment Performance
- Key points
- Figure 16: Womens accessories, by segment performance, November 2007
- Hats
- Figure 17: Retail sales of hats - UK, at current and 2002 prices, 2002-07
- Hats heading the right way
- A hat for all seasons
- Scarves and shawls
- Figure 18: Retail sales of scarves and shawls - UK, 2002-07
- A chill breeze for scarves
- A scarf is not just for winter
- Gloves
- Figure 19: Retail sales of gloves - UK, 2002-07
- A glove renaissance
- Summer glove
- Young glove
- Handbags
- Figure 20: Retail sales of handbags - UK, 2002-07
- Handbag sales soar
- WAGs sell bags
- Belts
- Figure 21: Retail sales of belts - UK, 2002-07
- Belt market tightens
- Green belt
Companies and Products
- Key points
- Fragmented market
- Burberry
- Dents
- Fiorelli
- Kangol
- Radley (previously Tula Group)
- Jane Shilton
- Acompany plc
- Retailer own-labels
- Accessorize
- Tie Rack/Frangi
- M&S
- Other brands
Brand Communication and Promotion
- Figure 22: Main monitored media advertising expenditure on accessories -
major brands, 2003-07
- Accessories stay below the line
- Who is spending
- Figure 23: Top six spenders - accessory-specific advertising, 2007
Channels to Market
- Key points
- Happy shopping
- Figure 24: Sales of women' s accessories, by outlet type, 2002-07
- Department stores
- Specialist multiples and accessory specialists
- Clothing retailers
- Grocery multiples
- The Internet
The Consumer - What They Buy
- Key points
- Figure 25: What accessories they bought in the last 12 months, November
2007
- Year-round appeal
- Losing the accessory habit
- Figure 26: What accessories they bought in the last 12 months, by
gender, age and socio-economic groups, November 2007
- Handbags bag top spot
- Bags for the Baby Boomers
The Consumer - What They Think of Seasonal Accessories
- Figure 27: What they think of seasonal accessories, November 2007
- A practical approach
- Fun vs function
- Figure 28: What they think of seasonal accessories bought in the last 12
months, by age and socio-economic group, November 2007
- Set or match?
- Club 45-64 holidays
- Bags of success
- Bag that spending
- Figure 29: Total expenditure on handbags bought in the last 12 months,
2003-07
- Hey bag spenders!
- Accessories for the young
- Mind the age gap
Appendix
- Advertising data
- Abbreviations
- Explanations
- Female demographics
- Figure 36: Age structure of the female population - UK, 2002-12
- What they buy - Detailed consumer demographics
- Figure 37: What accessories they bought in the last 12 months, by
Mintel' s Special Groups, region, ACORN categories, technology users,
newspapers used, commercial TV viewing and supermarkets used, November 2007
- Figure 38: What accessories they bought in the last 12 months, by
Mintel' s Special Groups, region, ACORN categories, technology users,
newspapers used, commercial TV viewing and supermarkets used, November 2007
- What they think of seasonal accessories - Detailed consumer demographics
- Figure 39: What they think of seasonal accessories bought in the last 12
months, by Mintel' s Special Groups, region, ACORN categories, technology
users, newspapers used, commercial TV viewing and supermarkets used,
November 2007
- What they think of shopping - Detailed consumer demographic
- Figure 40: What they think of shopping bought in the last 12 months, by
Mintel Special Groups, region, ACORN categories, technology users, daily
newspapers, commercial TV viewing and supermarkets used, november 2007
- Further consumer analysis
- Figure 41: Typologies, by statements, November 2007
- Cluster demographics
- Figure 42: Typologies, by age and socio-economic group, November 2007
- Figure 43: Typologies, by ACORN categories, commercial TV viewing,
region, newspapers read and supermarkets used, November 2007
- Figure 44: Total expenditure on handbags over the past 12 months, by age
and socio-economic group, 2007
- Other accessories
- Figure 45: Total expenditure on gloves, belts and other accessories over
the past 12 months - women, by age and socio-economic group, 2007
- Figure 46: What they think of shopping bought in the last 12 months, by
age and socio-economic group, November 2007
- Figure 47: What they think of seasonal accessories bought in the last 12
months, by age and socio-economic group, November 2007
- Figure 48: What accessories they bought in the last 12 months, by age
and socio-economic group, November 2007
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