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Strategy Briefing

World Market for Personal Accessories

Apr 2020

US$1,325

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Sales of personal accessories grew in 2019, driven by strong demand in Asia Pacific and tourism in Western Europe. The outlook through to 2024 is positive, despite Coronavirus (COVID-19) hitting global demand in 2020. If the pandemic is contained by the end of Q2 2020, the rebound in shopping and travel flows could drive sales for the rest of the year. In any case, the digitalisation of the industry is set to accelerate to keep customers engaged despite the disruption.

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Overview

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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.

Key Findings

Personalisation and experiences will accelerate alongside technological developments

Consumers increasingly value the convenience, variety of brands and ease of comparing prices and other information offered by online shopping. As connected consumers realise everyone is unique and has different needs, personalisation and experiences are key to engage with consumers. Hence, brands are increasingly adopting co-creation, customer-driven design and limited editions to bolster sales. Embracing diversity and inclusivity has also become a key marketing tool in an industry which usually thrives on aspirational messages. These trends will accelerate alongside technological developments in the future.

E-commerce and digital platforms set to become even more relevant

Internet retailing now accounts for over 10% of value sales, posting 12% growth in 2019, to reach sales of USD63 billion. It is the best-performing channel and is likely to become even more relevant in the future, as the spread of COVID-19 has led consumers to turn to online technology for shopping, or at least entertaining and informing themselves. Major brands have also resorted to technology such as live streaming to enhance engagement with consumers during the epidemic, but this shift to online might become more permanent, especially if restrictions on people’s movements lasts beyond Q2 2020, changing consumers’ path to purchase more profoundly.

Asia is of critical importance for growth

Mature markets still play an important role, especially when it comes to the high-end of the spectrum; in particular, Germany, the UK, Japan, Italy and France. However, in a rather mature industry, China and India have become critical for global growth, as well as other emerging markets in Asia, such as Thailand and Indonesia. This is why the outbreak of COVID-19, and its impact on retail and travel flows, has hit global growth in 2020. Nonetheless, if the pandemic is contained before the end of summer 2020, the rebound in shopping and international travel could boost sales in the second half of the year.

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Introduction

Scope

Key findings

Global Outlook

Personal accessories in context

2019 marks another year of healthy growth for personal accessories

Hong Kong and Singapore remain home to the highest spenders globally

Asia Pacific leads globally, with relentless growth so far…

…but COVID-19 outbreak hits global sales sharply in the short-term

Jewellery and bags and luggage outperform other categories

Global snapshot of jewellery

High watches outperforms both mid and basic references globally

Bags and luggage benefits from global travel figures

Writing instruments sees negligible growth due to digitalisation

Global growth dependent on the performance of China and India

Internet retailing is the fastest growing channel in personal accessories

Leading Companies and Brands

Personal accessories remains largely unbranded and fragmented

Multi-brand conglomerates dominate the competitive landscape

Local players in India and China outgrow global operators

Top Trends Shaping the Industry

Top trends driving Personal Accessories

Digitalisation throughout: e-commerce

Digitalisation throughout: experiential shopping

Digitalisation throughout: product development

Social media drives demand for inclusivity and personalisation

Sustainability helps build a positive brand image

Brands will increasingly try to get a slice of the resale market

conclusion

Conclusion

Market Snapshots

Global snapshot of jewellery

Global snapshot of bags and luggage

Global snapshot of watches

Global snapshot of writing instruments

Regional snapshot: Asia Pacific

Regional snapshot: North America

Regional snapshot: Latin America

Regional snapshot: Western Europe

Regional snapshot: Middle East and Africa

Regional snapshot: Eastern Europe

Regional snapshot: Australasia

Appendix

Definitions

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market Overlap

Treemap

Overlap Matrices

Why buy this report?

Want to find out more about this report?

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Megatrends

Strategy Briefing

World Market for Personal Accessories

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Key Findings

Personalisation and experiences will accelerate alongside technological developments

E-commerce and digital platforms set to become even more relevant

Asia is of critical importance for growth

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Global Outlook

Personal accessories in context

2019 marks another year of healthy growth for personal accessories

Hong Kong and Singapore remain home to the highest spenders globally

Asia Pacific leads globally, with relentless growth so far…

…but COVID-19 outbreak hits global sales sharply in the short-term

Jewellery and bags and luggage outperform other categories

Global snapshot of jewellery

High watches outperforms both mid and basic references globally

Bags and luggage benefits from global travel figures

Writing instruments sees negligible growth due to digitalisation

Global growth dependent on the performance of China and India

Internet retailing is the fastest growing channel in personal accessories

Leading Companies and Brands

Personal accessories remains largely unbranded and fragmented

Multi-brand conglomerates dominate the competitive landscape

Local players in India and China outgrow global operators

Top Trends Shaping the Industry

Top trends driving Personal Accessories

Digitalisation throughout: e-commerce

Digitalisation throughout: experiential shopping

Digitalisation throughout: product development

Social media drives demand for inclusivity and personalisation

Sustainability helps build a positive brand image

Brands will increasingly try to get a slice of the resale market

conclusion

Conclusion

Market Snapshots

Global snapshot of jewellery

Global snapshot of bags and luggage

Global snapshot of watches

Global snapshot of writing instruments

Regional snapshot: Asia Pacific

Regional snapshot: North America

Regional snapshot: Latin America

Regional snapshot: Western Europe

Regional snapshot: Middle East and Africa

Regional snapshot: Eastern Europe

Regional snapshot: Australasia

Appendix

Definitions

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market Overlap

Treemap

Overlap Matrices

Why buy this report?

Want to find out more about this report?

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