From incorporating low-carbon fibres into the manufacturing process, to responsible sourcing, to labelling and marketing claims, and to giving back to production hubs, personal accessories has major challenges ahead as sustainability takes centre stage globally.
The world continues to be a challenging place in 2023. Just as we thought it was safe to re-engage after the pandemic, the global economy started to look fragile again. In this video Fflur Roberts and Marguerite LeRolland, Euromonitor’s respective Heads of Luxury Goods and Fashion, discuss what they think will be the most impactful trends in the year ahead. How is the industry adapting to new retail preferences as our new lifestyles and working habits take form? What value propositions are consumers looking for in an inflationary environment and a cost-of-living crisis where spending is being squeezed. With the growing urgency in sustainability, what new business models are we likely to see filtering through?
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.