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Country Report

Personal Accessories in

Personal Accessories in Mexico

Aug 2020

US$1,210

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Executive Summary

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COVID-19 impact on personal accessories

The emergence of COVID-19 in Mexico in 2020 and the subsequent lockdown measures introduced by the government resulted in many consumers being urged to remain at home wherever possible, including work-from-home strategies, restricted movement, and a focus on prioritising spending on basic essentials such as groceries, medicines and surface care. The lack of opportunities to socialise outside, working from home, and financial concerns, a factor already emerging in 2019 with a marginal contraction in the country’s GDP and exacerbated by rising unemployment in 2020, particularly for those working within the horeca industry, resulted in strong declines for personal accessories, with discretionary items such as jewellery and watches particularly hard hit as consumers regulated their spending on perceived non-essential items.

COVID-19 country impact

The Mexican government announced nationwide restrictions on non-essential economic activities in most municipalities on 30 March, which took effect the following day, with the population urged to stay at home, where possible. On 16 April, the government extended these restrictions to last until 30 May, with the peak of the COVID-19 epidemic in Mexico occurring in May.

Company response

Personal accessories in Mexico remained a highly fragmented competitive environment in 2019, with only marginal share losses or gains amongst the leading global brands. An affluent niche consumer group which also comprises international tourists, continued to support strong performances by luxury names including Hermès, Louis Vuitton, Cartier and Yves Saint Laurent, although demand for designer wallet and coin pouches and other small bags had also been driven by aspirational consumers, particularly younger women who had joined the workforce and wanted to indulge in a more affordable luxury item which offers kudos to the wearer.

Retailing shift

While e-commerce retained low value share within overall personal accessories towards the end of the review period, it had been steadily gaining ground as a viable alternative distribution channel for price-sensitive consumers who appreciated the wide range of goods and competitive prices to be found. This trend was brought sharply into focus in Q2 2020 when many non-essential retailers including specialists and department stores were forced to close as the government introduced various lockdown measures in response to COVID-19.

What next for personal accessories?

Demand for personal accessories in Mexico will remain weak over the forecast period as a whole, with many local consumers likely to remain cautious in their spending following the lockdown due to uncertainty over employment prospects, as the country’s economy was already showing signs of instability in 2019. Many of them are therefore likely to focus on purchasing essential goods and services for the first half of the forecast period at least, with many personal accessories perceived to be discretionary items which can therefore be relinquished.

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Personal Goods Market Sample Data

Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Personal Accessories industry in Mexico with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Personal Accessories industry in Mexico, our research will save you time and money while empowering you to make informed, profitable decisions.

When you purchase this report, you also get the data and the content from these category reports in Mexico for free:

The Personal Accessories in Mexico market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

How are sales of luggage, backpacks and sports bags impacted by tourism flows?
Are sales of real jewellery catching up on costume jewellery in Mexico?
Is mechanical, quartz digital or quartz analogue driving sales of watches in Mexico?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our personal goods market research database.

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Personal Accessories in Mexico

EXECUTIVE SUMMARY

COVID-19 impact on personal accessories

COVID-19 country impact

Company response

Retailing shift

What next for personal accessories?

MARKET DATA

Table 1 Sales of Personal Accessories by Category: Volume 2015-2020
Table 2 Sales of Personal Accessories by Category: Value 2015-2020
Table 3 Sales of Personal Accessories by Category: % Volume Growth 2015-2020
Table 4 Sales of Personal Accessories by Category: % Value Growth 2015-2020
Table 5 NBO Company Shares of Personal Accessories: % Value 2015-2019
Table 6 LBN Brand Shares of Personal Accessories: % Value 2016-2019
Table 7 Distribution of Personal Accessories by Format: % Value 2015-2020
Table 8 Forecast Sales of Personal Accessories by Category: Volume 2020-2025
Table 9 Forecast Sales of Personal Accessories by Category: Value 2020-2025
Table 10 Forecast Sales of Personal Accessories by Category: % Volume Growth 2020-2025
Table 11 Forecast Sales of Personal Accessories by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DEFINITIONS

SOURCES

Summary 1 Research Sources

Bags and Luggage in Mexico

KEY DATA FINDINGS

2020 IMPACT

Work-from-home, closure of schools and restricted travel all impact demand for bags and luggage during the lockdown

Highly fragmented competitive landscape in 2019 sees luxury player Hermès take over leadership of bags and luggage from Samsonite

E-commerce benefits from stronger demand boosted by lockdown

RECOVERY AND OPPORTUNITIES

Postponement of back-to-school period likely to be huge blow to retailers of backpacks, with overall bags and luggage not set to return to positive volume growth until 2023

Slow to return to growth due to caution over travelling, luggage could benefit from government’s attempts to promote local tourism

Luxury handbags set to record strongest recovery from its niche base

CATEGORY DATA

Table 12 Sales of Bags and Luggage by Category: Volume 2015-2020
Table 13 Sales of Bags and Luggage by Category: Value 2015-2020
Table 14 Sales of Bags and Luggage by Category: % Volume Growth 2015-2020
Table 15 Sales of Bags and Luggage by Category: % Value Growth 2015-2020
Table 16 Sales of Luggage by Type: % Value 2015-2020
Table 17 NBO Company Shares of Bags and Luggage: % Value 2015-2019
Table 18 LBN Brand Shares of Bags and Luggage: % Value 2016-2019
Table 19 Distribution of Bags and Luggage by Format: % Value 2015-2020
Table 20 Forecast Sales of Bags and Luggage by Category: Volume 2020-2025
Table 21 Forecast Sales of Bags and Luggage by Category: Value 2020-2025
Table 22 Forecast Sales of Bags and Luggage by Category: % Volume Growth 2020-2025
Table 23 Forecast Sales of Bags and Luggage by Category: % Value Growth 2020-2025

Jewellery in Mexico

KEY DATA FINDINGS

2020 IMPACT

Jewellery, a discretionary item, records one of worst declines in demand during lockdown

Jewellery remains a highly fragmented competitive landscape in 2019, led by local fine jewellery player Joyerías Bizzarro

Non-grocery specialists and department stores lose share to e-commerce within costume jewellery during lockdown

RECOVERY AND OPPORTUNITIES

Jewellery set to make slow recovery to positive growth from 2023 due to ongoing price sensitivity amongst mid-income consumers

Mexican imagery and religious symbols likely to remain popular trends within jewellery

Mexico’s production of silver makes it a popular precious metal amongst smaller independent local brands

CATEGORY DATA

Table 24 Sales of Jewellery by Category: Volume 2015-2020
Table 25 Sales of Jewellery by Category: Value 2015-2020
Table 26 Sales of Jewellery by Category: % Volume Growth 2015-2020
Table 27 Sales of Jewellery by Category: % Value Growth 2015-2020
Table 28 Sales of Costume Jewellery by Type: % Value 2015-2020
Table 29 Sales of Fine Jewellery by Type: % Value 2015-2020
Table 30 Sales of Fine Jewellery by Collection: % Value 2015-2020
Table 31 Sales of Fine Jewellery by Metal: % Value 2015-2020
Table 32 NBO Company Shares of Jewellery: % Value 2015-2019
Table 33 LBN Brand Shares of Jewellery: % Value 2016-2019
Table 34 Distribution of Jewellery by Format: % Value 2015-2020
Table 35 Forecast Sales of Jewellery by Category: Volume 2020-2025
Table 36 Forecast Sales of Jewellery by Category: Value 2020-2025
Table 37 Forecast Sales of Jewellery by Category: % Volume Growth 2020-2025
Table 38 Forecast Sales of Jewellery by Category: % Value Growth 2020-2025

Watches in Mexico

KEY DATA FINDINGS

2020 IMPACT

Watches records strongest volume decline within personal accessories during lockdown due to discretionary nature and alternative devices offering timekeeping

Swatch Group retains leadership of watches in 2019 due to wide product portfolio but affluent consumers and collectors appreciate limited editions offered by high mechanical

E-commerce gains share but likely to remain small distribution channel for mechanical watches

RECOVERY AND OPPORTUNITIES

Watches will continue to struggle over the forecast period due to high price sensitivity amongst Mexicans and increasing reliance on digital devices

Smartwatches likely to offer stronger competition to quartz digital

High mechanical watches likely to have enduring appeal amongst affluent consumers and collectors, recording stronger recovery from 2024

CATEGORY DATA

Table 39 Sales of Watches by Category: Volume 2015-2020
Table 40 Sales of Watches by Category: Value 2015-2020
Table 41 Sales of Watches by Category: % Volume Growth 2015-2020
Table 42 Sales of Watches by Category: % Value Growth 2015-2020
Table 43 Sales of Watches by Price Band: Volume 2015-2020
Table 44 Sales of Watches by Price Band: Value 2015-2020
Table 45 Sales of Watches by Price Band: % Volume Growth 2015-2020
Table 46 Sales of Watches by Price Band: % Value Growth 2015-2020
Table 47 NBO Company Shares of Watches: % Value 2015-2019
Table 48 LBN Brand Shares of Watches: % Value 2016-2019
Table 49 Distribution of Watches by Format: % Value 2015-2020
Table 50 Forecast Sales of Watches by Category: Volume 2020-2025
Table 51 Forecast Sales of Watches by Category: Value 2020-2025
Table 52 Forecast Sales of Watches by Category: % Volume Growth 2020-2025
Table 53 Forecast Sales of Watches by Category: % Value Growth 2020-2025
Table 54 Forecast Sales of Watches by Price Band: Volume 2020-2025
Table 55 Forecast Sales of Watches by Price Band: Value 2020-2025
Table 56 Forecast Sales of Watches by Price Band: % Volume Growth 2020-2025
Table 57 Forecast Sales of Watches by Price Band: % Value Growth 2020-2025

Writing Instruments in Mexico

KEY DATA FINDINGS

2020 IMPACT

Practicality of writing instruments leads to lowest volume decline during lockdown

Bic retains top-of-mind popularity amongst consumers, while fountain pen brands attempt to attract affluent collectors with limited editions

E-commerce gains value share and records positive sales during lockdown despite availability through modern grocery retailers

RECOVERY AND OPPORTUNITIES

Postponement of back-to-school season due to rising cases of virus likely to be huge blow to retailers in latter part of 2020

Pens to continue to face competition from digital devices amongst wider population

Markers and highlighters set to record earliest recovery from 2022

CATEGORY DATA

Table 58 Sales of Writing Instruments by Category: Volume 2015-2020
Table 59 Sales of Writing Instruments by Category: Value 2015-2020
Table 60 Sales of Writing Instruments by Category: % Volume Growth 2015-2020
Table 61 Sales of Writing Instruments by Category: % Value Growth 2015-2020
Table 62 NBO Company Shares of Writing Instruments: % Value 2015-2019
Table 63 LBN Brand Shares of Writing Instruments: % Value 2016-2019
Table 64 Distribution of Writing Instruments by Format: % Value 2015-2020
Table 65 Forecast Sales of Writing Instruments by Category: Volume 2020-2025
Table 66 Forecast Sales of Writing Instruments by Category: Value 2020-2025
Table 67 Forecast Sales of Writing Instruments by Category: % Volume Growth 2020-2025
Table 68 Forecast Sales of Writing Instruments by Category: % Value Growth 2020-2025

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Megatrends

Country Report

Personal Accessories in Mexico

New Report Guarantee

Executive Summary

New Report Guarantee

COVID-19 impact on personal accessories

COVID-19 country impact

Company response

Retailing shift

What next for personal accessories?

Samples

Overview

Why buy this report?

Samples: FAQs about samples

Want to find out more about this report?

Table of Contents

Personal Accessories in Mexico

EXECUTIVE SUMMARY

COVID-19 impact on personal accessories

COVID-19 country impact

Company response

Retailing shift

What next for personal accessories?

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DEFINITIONS

SOURCES

Bags and Luggage in Mexico

KEY DATA FINDINGS

2020 IMPACT

Work-from-home, closure of schools and restricted travel all impact demand for bags and luggage during the lockdown

Highly fragmented competitive landscape in 2019 sees luxury player Hermès take over leadership of bags and luggage from Samsonite

E-commerce benefits from stronger demand boosted by lockdown

RECOVERY AND OPPORTUNITIES

Postponement of back-to-school period likely to be huge blow to retailers of backpacks, with overall bags and luggage not set to return to positive volume growth until 2023

Slow to return to growth due to caution over travelling, luggage could benefit from government’s attempts to promote local tourism

Luxury handbags set to record strongest recovery from its niche base

CATEGORY DATA

Jewellery in Mexico

KEY DATA FINDINGS

2020 IMPACT

Jewellery, a discretionary item, records one of worst declines in demand during lockdown

Jewellery remains a highly fragmented competitive landscape in 2019, led by local fine jewellery player Joyerías Bizzarro

Non-grocery specialists and department stores lose share to e-commerce within costume jewellery during lockdown

RECOVERY AND OPPORTUNITIES

Jewellery set to make slow recovery to positive growth from 2023 due to ongoing price sensitivity amongst mid-income consumers

Mexican imagery and religious symbols likely to remain popular trends within jewellery

Mexico’s production of silver makes it a popular precious metal amongst smaller independent local brands

CATEGORY DATA

Watches in Mexico

KEY DATA FINDINGS

2020 IMPACT

Watches records strongest volume decline within personal accessories during lockdown due to discretionary nature and alternative devices offering timekeeping

Swatch Group retains leadership of watches in 2019 due to wide product portfolio but affluent consumers and collectors appreciate limited editions offered by high mechanical

E-commerce gains share but likely to remain small distribution channel for mechanical watches

RECOVERY AND OPPORTUNITIES

Watches will continue to struggle over the forecast period due to high price sensitivity amongst Mexicans and increasing reliance on digital devices

Smartwatches likely to offer stronger competition to quartz digital

High mechanical watches likely to have enduring appeal amongst affluent consumers and collectors, recording stronger recovery from 2024

CATEGORY DATA

Writing Instruments in Mexico

KEY DATA FINDINGS

2020 IMPACT

Practicality of writing instruments leads to lowest volume decline during lockdown

Bic retains top-of-mind popularity amongst consumers, while fountain pen brands attempt to attract affluent collectors with limited editions

E-commerce gains value share and records positive sales during lockdown despite availability through modern grocery retailers

RECOVERY AND OPPORTUNITIES

Postponement of back-to-school season due to rising cases of virus likely to be huge blow to retailers in latter part of 2020

Pens to continue to face competition from digital devices amongst wider population

Markers and highlighters set to record earliest recovery from 2022

CATEGORY DATA

Why buy this report?

Want to find out more about this report?

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