For economy brands, impulse purchases and fashion trends drives demand for apparel accessories, with consumers purchasing these products to add variety and interest to their outfit. These products are typically strategically positioned close to checkout tills alongisde products such as hosiery to encourage impulse purchases, with leading players such as Ackermans and H&M finding success with this tactic.
Consumers showed a preference for cheaper options when it came to apparel accessories in 2018 even for those who opted for higher priced options when it came to purchasing apparel. Consumers in South Africa like to accessorise their outfits, mixing and matching different items to create new looks.
Luxury apparel accessories are seen as a gateway to a luxury brand, with it being more affordable for an aspirational consumer to purchase a Louis Vuitton scarf, for example, as opposed to spending on a Louis Vuitton handbag. Consumers will also sometimes purchase luxury apparel accessories to dress up an outfit comprised of more affordable branded items.
With good value apparel accessories being in vogue it was local company Pepkor Holdings Ltd which saw the largest increase in value share in 2018, with it further extending its lead. The company’s Pep brand continued to grow with it leading the category, while its Ackermans brand saw one of the most dynamic growth rates in current value terms in 2018 with it climbing into second place.
Some international brands such as Hugo Boss and Accessorize struggled in 2018 with consumers switching to more affordable alternatives. However, thanks to the strong athleisure trend adidas maintained a solid position within the category, with it seeing steady if unspectacular growth.
Apparel accessories is a highly fragmented category, with the top five players all being local retailers. Their wide distribution reach ensures that their brands have high visibility and reach a large consumer group.
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This industry report originates from Passport, our Apparel and Footwear market research database