Executive Summary

Mar 2019
PROSPECTS
Apparel accessories set to grow over the forecast period

Growth in apparel accessories over the forecast period is expected to be driven by the rise of personal style, the desire to keep pace with latest fashion trends pushed by fast fashion brands and growing disposable incomes after a difficult 2017; H&M, for example, offered trendy hair accessories at prices such as COP19,900 and belts at COP24,900, whilst local fashion brand ranges cost 60% more. However, as in other categories, brands are adjusting to reach lower price points to encourage young consumers to purchase and increase their purchase rotation throughout collections and not only during sales periods.

Hats/caps, gloves to show the strongest growth

Hats/caps and gloves are expected to see the fastest value growth over the forecast period. Driven by athleisure trend, millennials spend more time outside whilst exercising and are likely to wear caps as part of the casual attire, and for sun protection as Colombians’ awareness about the damaging effects of its exposure continue to grow.

Expansion of sales channels is expected

Easy access to the internet was a growing government priority during the review period, as the rising preference for online shopping amongst millennials and Generation X has changed shopping patterns. Channel distribution is expanding to e-commerce, where a wider range of accessories for athletes and non-sports enthusiasts, such as gloves and scarves, can be posted and commercialised.

COMPETITIVE LANDSCAPE
Local brands drive consumer interest in apparel accessories

The trend for using apparel accessories to create a personal style will favour the expansion of sales overall. Studio F and Vélez are the leading brands in apparel accessories; both brands offer a wide range of accessories sold through physical stores located in large cities but also selling its products through official online sites.

Share of private label remains low

Private label still plays a rather marginal role in the category. Falabella is the main retailer, and it is gradually enlarging its functional apparel accessories range; however, it is difficult for private label manufacturers to identify a strong positioning for their products in this highly competitive industry.

Smaller brands provide alternatives

In the review period, many smaller brands registered strong performances to the decline in purchasing power and consumers’ substitution of products from leading brands with cheaper alternatives. Whilst economic improvement is expected to be achieved by the end of the forecast period, consumers will most likely demand higher-quality products in apparel accessories.

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Apparel Accessories in Colombia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Apparel Accessories industry in Colombia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Apparel Accessories industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Apparel Accessories in Colombia market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Apparel Accessories in Colombia?
  • What are the major brands in Colombia?
  • How dynamic is the growth of clothing and footwear internet sales?
  • What is the performance of women’s clothing vs men’s clothing?
  • What % of clothing and footwear sales goes through grocery retailers?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Apparel and Footwear market research database

Apparel Accessories in Colombia - Category analysis

HEADLINES

PROSPECTS

Apparel accessories set to grow over the forecast period
Hats/caps, gloves to show the strongest growth
Expansion of sales channels is expected

COMPETITIVE LANDSCAPE

Local brands drive consumer interest in apparel accessories
Share of private label remains low
Smaller brands provide alternatives

CATEGORY DATA

Table 1 Sales of Apparel Accessories by Category: Volume 2013-2018
Table 2 Sales of Apparel Accessories by Category: Value 2013-2018
Table 3 Sales of Apparel Accessories by Category: % Volume Growth 2013-2018
Table 4 Sales of Apparel Accessories by Category: % Value Growth 2013-2018
Table 5 NBO Company Shares of Apparel Accessories: % Value 2014-2018
Table 6 LBN Brand Shares of Apparel Accessories: % Value 2015-2018
Table 7 Forecast Sales of Apparel Accessories by Category: Volume 2018-2023
Table 8 Forecast Sales of Apparel Accessories by Category: Value 2018-2023
Table 9 Forecast Sales of Apparel Accessories by Category: % Volume Growth 2018-2023
Table 10 Forecast Sales of Apparel Accessories by Category: % Value Growth 2018-2023

Apparel and Footwear in Colombia - Industry Overview

EXECUTIVE SUMMARY

In spite of VAT increase, volume sales increase with economic recuperation
Brands are trying to balance between sportswear and stylish clothing
The industry is slowly changing towards sustainability
Key players increase investments and new brands are established in the country
Price remains important to the average consumer

MARKET DATA

Table 11 Sales of Apparel and Footwear by Category: Volume 2013-2018
Table 12 Sales of Apparel and Footwear by Category: Value 2013-2018
Table 13 Sales of Apparel and Footwear by Category: % Volume Growth 2013-2018
Table 14 Sales of Apparel and Footwear by Category: % Value Growth 2013-2018
Table 15 NBO Company Shares of Apparel and Footwear: % Value 2014-2018
Table 16 LBN Brand Shares of Apparel and Footwear: % Value 2015-2018
Table 17 Distribution of Apparel and Footwear by Format: % Value 2013-2018
Table 18 Distribution of Apparel and Footwear by Format and Category: % Value 2018
Table 19 Forecast Sales of Apparel and Footwear by Category: Volume 2018-2023
Table 20 Forecast Sales of Apparel and Footwear by Category: Value 2018-2023
Table 21 Forecast Sales of Apparel and Footwear by Category: % Volume Growth 2018-2023
Table 22 Forecast Sales of Apparel and Footwear by Category: % Value Growth 2018-2023

DEFINITIONS

SOURCES

Summary 1 Research Sources