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Learn moreAug 2020
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The COVID-19 outbreak led to a reduction in personal accessories sales, across all categories, in 2020, as the Romanian government implemented quarantine and social distancing measures to contain the pandemic. If the pandemic is contained in the second half of 2020, the personal accessories market is expected to see growth over the rest of the forecast period.
On 8 March, flights between Romania and Italy were suspended, followed by the closure of all schools on 11 March and a state of emergency being declared on 16 March. All non-essential services were stopped from 18 March, with shopping centres and non-essential retailers closing down, but grocery retailers, pharmacies and pet shops stayed open, albeit with social distancing measures in place.
Personal accessories has a highly fragmented competitive landscape in most categories. The various personal accessories types come from multiple manufacturers, including well-known multinationals such as Cie Financière Richemont, LVMH Moët Hennessy Louis Vuitton or H&M Hennes & Mauritz, local players such as Credit Gold & GF 2003 (Teilor) as well as Asian companies, which are particularly strong in the economy segment with unbranded products.
In 2020, personal accessories was strongly affected by the COVID-19 restrictions in Romania. Starting in March, all non-essential retail outlets were closed, which greatly influenced the availability of personal accessories products and the interest of consumers in buying these products.
The COVID-19 pandemic is negatively impacting sales of personal accessories mainly due to the forced closure of stores during the lockdown period. Nevertheless, if the pandemic fades in the second half of 2020, the personal accessories market is expected to see a return to growth over the rest of the forecast period.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Personal Accessories industry in Romania 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 Romania, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our personal goods market research database.
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.