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Personal Accessories in South Korea

July 2021
USD 1,210
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Overview:

Understand the latest market trends and future growth opportunities for the Personal Accessories industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Bags and Luggage
  • Jewellery
  • Watches
  • Writing Instruments

If you're in the Personal Accessories industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Personal Accessories in South Korea report includes:

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

This report answers:

  • What is the market size of Personal Accessories in South Korea?
  • Which are the leading brands in Personal Accessories in South Korea?
  • How significant is tourism in determining sales and demand for Personal Accessories in South Korea?
  • How are COVID-19 and global recession impacting demand for Personal Accessories in South Korea?
  • In the wake of COVID-19, how soon can Personal Accessories be expected to recover? Where are the opportunities for growth now?
  • Where is future growth expected to be most significant?

Personal Accessories in South Korea

EXECUTIVE SUMMARY

Personal accessories in 2021: The big picture
Key trends in 2021
Competitive landscape
Retailing developments
What next for personal accessories?

MARKET DATA

Table 1 Sales of Personal Accessories by Category: Volume 2016-2021 Table 2 Sales of Personal Accessories by Category: Value 2016-2021 Table 3 Sales of Personal Accessories by Category: % Volume Growth 2016-2021 Table 4 Sales of Personal Accessories by Category: % Value Growth 2016-2021 Table 5 NBO Company Shares of Personal Accessories: % Value 2016-2020 Table 6 LBN Brand Shares of Personal Accessories: % Value 2017-2020 Table 7 Distribution of Personal Accessories by Format: % Value 2016-2021 Table 8 Forecast Sales of Personal Accessories by Category: Volume 2021-2026 Table 9 Forecast Sales of Personal Accessories by Category: Value 2021-2026 Table 10 Forecast Sales of Personal Accessories by Category: % Volume Growth 2021-2026 Table 11 Forecast Sales of Personal Accessories by Category: % Value Growth 2021-2026

DISCLAIMER

SOURCES

Summary 1 Research Sources

Bags and Luggage in South Korea

KEY DATA FINDINGS

2021 DEVELOPMENTS

Polarisation in consumer spending particularly apparent in categories with a discretionary nature
Share growth for the top three players as consumers demand timeless rather than trendy items, domestic travel rises and schools return from late February 2021
Growing demand for unique designs in bags and luggage in mass brands as consumers try to cheer themselves up after months of lockdown and COVID-19 restrictions

PROSPECTS AND OPPORTUNITIES

Wide distribution of vaccines sees the return of foreign travel in 2022 with consumers saving for big-ticket holidays abroad and associated luggage
Shift to e-commerce proves sticky as consumers embrace its convenience, fast delivery and exclusive promotions
Leading apparel manufacturers diversify by entering bags and luggage in order to offset steep sales declines in apparel categories

CATEGORY DATA

Table 12 Sales of Bags and Luggage by Category: Volume 2016-2021 Table 13 Sales of Bags and Luggage by Category: Value 2016-2021 Table 14 Sales of Bags and Luggage by Category: % Volume Growth 2016-2021 Table 15 Sales of Bags and Luggage by Category: % Value Growth 2016-2021 Table 16 Sales of Luggage by Type: % Value 2016-2021 Table 17 NBO Company Shares of Bags and Luggage: % Value 2016-2020 Table 18 LBN Brand Shares of Bags and Luggage: % Value 2017-2020 Table 19 Distribution of Bags and Luggage by Format: % Value 2016-2021 Table 20 Forecast Sales of Bags and Luggage by Category: Volume 2021-2026 Table 21 Forecast Sales of Bags and Luggage by Category: Value 2021-2026 Table 22 Forecast Sales of Bags and Luggage by Category: % Volume Growth 2021-2026 Table 23 Forecast Sales of Bags and Luggage by Category: % Value Growth 2021-2026

Jewellery in South Korea

KEY DATA FINDINGS

2021 DEVELOPMENTS

Rebound for fine jewellery as newlyweds spend money saved from cancelled honeymoons and pared down events due to ongoing social distancing restrictions
Industry players adopt a number of strategies including the launch of an all-male store and e-commerce to reach a younger consumer base
Increasing consumer appetite for customised jewellery and luxury items

PROSPECTS AND OPPORTUNITIES

Expansion of local players offering customised jewellery to online global platforms
The launch of exclusive e-commerce brands extends the consumer base and helps brands mitigate some of their losses from bricks and mortar stores
Players become increasingly creative incorporating lab grown diamonds and artificial intelligence into their repertoires in order to appeal to young consumers

CATEGORY DATA

Table 24 Sales of Jewellery by Category: Volume 2016-2021 Table 25 Sales of Jewellery by Category: Value 2016-2021 Table 26 Sales of Jewellery by Category: % Volume Growth 2016-2021 Table 27 Sales of Jewellery by Category: % Value Growth 2016-2021 Table 28 Sales of Costume Jewellery by Type: % Value 2016-2021 Table 29 Sales of Fine Jewellery by Type: % Value 2016-2021 Table 30 Sales of Fine Jewellery by Collection: % Value 2016-2021 Table 31 Sales of Fine Jewellery by Metal: % Value 2016-2021 Table 32 NBO Company Shares of Jewellery: % Value 2016-2020 Table 33 LBN Brand Shares of Jewellery: % Value 2017-2020 Table 34 Distribution of Jewellery by Format: % Value 2016-2021 Table 35 Forecast Sales of Jewellery by Category: Volume 2021-2026 Table 36 Forecast Sales of Jewellery by Category: Value 2021-2026 Table 37 Forecast Sales of Jewellery by Category: % Volume Growth 2021-2026 Table 38 Forecast Sales of Jewellery by Category: % Value Growth 2021-2026

Watches in South Korea

KEY DATA FINDINGS

2021 DEVELOPMENTS

Growth of watches in 2021 as consumers have money to spend from cancelled life events while strong demand for luxury brands is heightened further by supply shortages
Sales of watches in department stores are being driven by young male consumers, to whom department stores are specifically catering
Growing appeal of the South Korean market to foreign brands

PROSPECTS AND OPPORTUNITIES

Growing demand for watches as consumers treat themselves to affordable luxury as they are priced out of real estate and are unable to go on foreign holidays
Growth in second-hand sales as luxury watch brands remain more appealing than luxury bags and apparel
Resumption of foreign travel negatively impacts domestic retail sales of watches though the return of tourists helps to compensate for losses

CATEGORY DATA

Table 39 Sales of Watches by Category: Volume 2016-2021 Table 40 Sales of Watches by Category: Value 2016-2021 Table 41 Sales of Watches by Category: % Volume Growth 2016-2021 Table 42 Sales of Watches by Category: % Value Growth 2016-2021 Table 43 Sales of Watches by Price Band: Volume 2016-2021 Table 44 Sales of Watches by Price Band: Value 2016-2021 Table 45 Sales of Watches by Price Band: % Volume Growth 2016-2021 Table 46 Sales of Watches by Price Band: % Value Growth 2016-2021 Table 47 NBO Company Shares of Watches: % Value 2016-2020 Table 48 LBN Brand Shares of Watches: % Value 2017-2020 Table 49 Distribution of Watches by Format: % Value 2016-2021 Table 50 Forecast Sales of Watches by Category: Volume 2021-2026 Table 51 Forecast Sales of Watches by Category: Value 2021-2026 Table 52 Forecast Sales of Watches by Category: % Volume Growth 2021-2026 Table 53 Forecast Sales of Watches by Category: % Value Growth 2021-2026

Writing Instruments in South Korea

KEY DATA FINDINGS

2021 DEVELOPMENTS

Return to the classroom from February 2021 boosts pencils and ball point pens while colouring remains steady thanks to home seclusion and lack of social activities
Demand recovers for writing instruments in 2021 though changes are being seen in retail channels
Premiumisation and inventive digital strategies boost brand awareness for Mon Ami

PROSPECTS AND OPPORTUNITIES

Growing collaborations outside the category raise awareness and create alternative revenue streams
Writing instruments experiences growing competition from smart devices bought through e-commerce stationery stores
Growing shift to e-commerce in writing instruments thanks to growth of digital devices over the forecast period

CATEGORY DATA

Table 54 Sales of Writing Instruments by Category: Volume 2016-2021 Table 55 Sales of Writing Instruments by Category: Value 2016-2021 Table 56 Sales of Writing Instruments by Category: % Volume Growth 2016-2021 Table 57 Sales of Writing Instruments by Category: % Value Growth 2016-2021 Table 58 NBO Company Shares of Writing Instruments: % Value 2016-2020 Table 59 LBN Brand Shares of Writing Instruments: % Value 2017-2020 Table 60 Distribution of Writing Instruments by Format: % Value 2016-2021 Table 61 Forecast Sales of Writing Instruments by Category: Volume 2021-2026 Table 62 Forecast Sales of Writing Instruments by Category: Value 2021-2026 Table 63 Forecast Sales of Writing Instruments by Category: % Volume Growth 2021-2026 Table 64 Forecast Sales of Writing Instruments by Category: % Value Growth 2021-2026
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  • 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 report originates from Passport, our Personal Accessories research and analysis database.

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