In 2018, apparel accessories grew in both value and volume terms in Hungary. Parallel with growing health consciousness and an emphasis on being fit, the importance of a trendy and fashionable look has become more of a factor for local consumers.
Retail value sales growth of apparel accessories at constant 2018 prices was more dynamic than volume growth over the review period. The reason for this is a rise in demand for premium quality products from well-known brands, which are purchased primarily by professionals who are earning more and thus are spending more on apparel.
Scarves was the fastest growing category in retail value sales terms in 2018. It has benefited from wide availability in most distribution channels, from fast fashion chains to stores selling private label products, retailers offering branded products, Chinese stores and open air markets.
Apparel accessories remained a fragmented category over the review period, with a large number of players selling these items. Fast fashion chains, such as Orsay, C&A, H&M, Takko or Zara, remain among the key producers, operating a large number of stores countrywide and selling apparel accessories alongside other apparel items, including via their online stores.
Despite a rise in demand in salaries, leading to consumer willingness to spend more, retailers selling private label apparel accessories managed to boost their value shares over the review period. There are several factors behind the success of these players, including offering good value for money, following the trends of branded products, and enabling quick and convenient purchasing while doing the weekly shopping.
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This industry report originates from Passport, our Apparel and Footwear market research database