Global sales of personal accessories grew by a healthy 13% in 2021, indicating a rapid recovery from the COVID-19 pandemic-related losses, but continued supply chain issues and decreasing consumer confidence, will make 2023 another challenging year for the personal accessories industry.
Euromonitor's latest personal accessories research shows that sales are set to see a 4% increase by the end of 2022, despite inflationary pressure and global supply chain constraints causing havoc across the markets.
With the recent announcement from Louis Vuitton on future price increases, Euromonitor explores the future of how we access luxury goods with COCOON founder Ceanne Fernandes -Wong, exploring luxury goods, the circular economy and insights on luxury handbag rental trends.
As we adapt to an increasingly digitally reliant world, this episode explores how digital innovations, shifts in target demographics, and lifestyle changes caused by the COVID-19 pandemic, are drawing fashion players to this space and highlights the challenges and opportunities facing fashion players trying to capitalise on the expansion of the metaverse and digital fashion.
The ongoing situation of COVID-19 has disrupted industries globally. This has resulted in people continuing to remain home, isolated in the Asia Pacific region throughout the year, due to sudden changes in COVID-19 cases. This anxiety has forced countries to limit international travel, slowing down recovery. Personal accessories and eyewear have been directly impacted by this.
After over a year spent mostly at home, prioritising the essentials, trends at JCK Las Vegas - the North American jewellery industry’s largest annual trade event - indicate consumers’ renewed optimism for the future, with a shift towards bright colours, bold designs, and products that celebrate life and loved ones.
Fashion face masks1 appeared in most consumers’ lives in 2020. In some markets such as Japan, South Korea and China, they were already prevalent, commonly used to avoid the spread of viruses, or due to high levels of air pollution, as in India. But…
Before the COVID-19 pandemic hit global eyewear sales in 2020, Safilo Group was already facing challenges in the industry’s shifting competitive landscape. Despite industry-wide growth reflecting increasing consumer concern for eye health on the…