Chilean consumers’ increasing participation in sports and outdoor activities and the related rise of sports-inspired clothing are having a particularly notable influence on the development of apparel accessories. Major sportswear brands such as adidas, Nike and Merrell saw increases in value share over the review period as they benefited from growing demand for products such as hats/caps.
Apparel accessories is seeing growth driven by younger Chilean consumers’ growing interest in fashion and particularly experimenting with the development of their own personal style. Accessories offer an inexpensive way to try out new looks and add novelty to existing outfits.
Price-sensitivity remains a key issue in apparel accessories, supported by the widespread availability of inexpensive non-branded accessories in small independent stores and homemade products with traditional designs from Chile, Bolivia and Peru, which can be found throughout Chile being sold on the street and in flea markets. The expansion of fast fashion brands in the market, however, is extending the range of products available at affordable prices to major international brands, which appeal strongly to younger consumers with a cosmopolitan outlook.
The widespread availability of inexpensive, non-branded products such as hats/caps, gloves and scarves in small independent stores underpins the considerable degree of fragmentation displayed by apparel accessories at the end of the review period. The top 15 players in apparel accessories jointly accounted for less than 10% of category value in 2018.
The importance of affordability underpins the strong positions of department stores and mass merchandisers in the Chilean market. While in some markets, department stores have a relatively high-end positioning, in Chile they are more aimed towards a mass consumer base.
The opening of new shopping centres has created new opportunities for apparel accessories brands to reach consumers. With consumers shifting from mass-market channels to more high-end distribution channels, this is particularly advantageous to major international brands.
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This industry report originates from Passport, our Apparel and Footwear market research database