Recent consumer price sensitivity has negatively impacted apparel accessories sales. Another factor limiting growth is the fact that customers often see accessories as only additional non-essential products.
Scarves continue to grow in popularity, with the majority of sales coming from global players like H&M, Zara and Forever 21, which are tapping into this positive sentiment. This growth can mainly be attributed to the daily use of scarves among Muslim women, with strong growth expected to continue over the forecast period.
Street-style continues to grow in popularity with the rise of athleisure, boosting demand for jeans, caps, hats, jumpers, jackets and sneakers. Furthermore, fashion companies such as NY Yankees Hats, Supreme and Bape are bringing street-style to the next level, launching premium prices targeting higher income consumers.
Providing affordable prices, Giordano is very popular among families and children, helping the company to stay ahead of rival Harmonie when it comes to apparel accessories sales. Another element boosting performance was the company’s appointment as an official merchandise producer for the Asian Games in 2018.
Giordano, Uniqlo and international sports brands saw strong demand for apparel accessories in 2018. On the other hand, local brands are struggling due to the decrease in consumer spending power.
Internet retailing sales continue to rise at the expense of traditional stores, with popular online apparel accessories plyers including Shopee and Sale Stock. Additionally, Shopee offers free shipping fees, which attract women consumers, who are the primary target for apparel accessories.
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This industry report originates from Passport, our Apparel and Footwear market research database