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Fashion Accessories Retailing - UK - July 2009

Belts are the most popular fashion accessory, with more than 16 million broadband users buying at least one in the last year. The over-35s have less interest in buying accessories as they have changing spending priorities. Instead, there exist opportunities to promote belts to the accessories-buying 16-24s who are the most are the most interested in changing fashions and they have few commitments other than spending on themselves.

There are opportunities to drive online sales of accessories further. Sixteen percent of people, bought fashion accessories online in 2008, and the online fashion market is expected to be worth £4.12 billion in 2009.

A third of women ‘need’ a ‘wardrobe’ of different handbags. Whether in store or online, wide selections and effective displays are key to attracting occasion-specific purchases.

When buying accessories, the ‘feelgood’ factor is key for a third of women. Quality is fundamental for a fifth of women. In-store purchases which emphasise the whole shopping experience – from visual merchandising to staff service on the floor and at the till are likely to keep online sales at bay in the short-term

Over-55s women provide the greatest opportunity in the handbag market: over half of this group consider a handbag to be an important purchase, but only a third actually bought one in the last twelve months. This group has a great interest in quality, so increases in buying frequency, or upgrades in value of purchase offer considerable potential amongst this group.

The over-35s are amongst the least frequent buyers of accessories: neither feelgood nor quality motivates here. Two-thirds of this group are not buying on an annual basis. Encouraging some self-indulgence alongside some help with style, could grow this market: longer styles for more ‘mature’ waistlines and more visual cues (ie mannequins and photo posters) to show how they can be worn.

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Table of contents

  1. Issues in the Market

      • Main themes
        • Definition
          • Explanations
            • Abbreviations
            • Future Opportunities

              • Cool consumer (trend from Inspire)
                • Extend my brand (trend from Inspire)
                  • The internet could boost the accessory market
                    • Changing consumers want value
                    • Market in Brief

                      • Slowdown in market growth
                        • Accessories
                          • Influences
                            • Threats
                              • Accessories have competition from jewellery
                                • Unemployment is increasing
                                  • Too much choice, too few ‘must have’ trends
                                    • Lack of innovation in visual merchandising
                                      • Lack of advertising
                                        • Belts and ties combinations
                                          • Opportunities
                                            • Accessories are ageless
                                              • Creative trend
                                                • Gift opportunity
                                                  • Male opportunity
                                                    • Internet opportunity
                                                      • Retailer winners and losers
                                                      • Internal Market Environment

                                                        • Key points
                                                          • Clothing fashion influences
                                                            • Influence of celebrities
                                                              • Fashion media influence
                                                                • Potential for gifts
                                                                  • Expenditure on handbags is polarised
                                                                    • Figure 1: Trends in expenditure on handbags, 2006-08
                                                                  • Decline in spending on other accessories
                                                                    • Figure 2: Trends in expenditure on gloves, belts and other accessories, 2006-08
                                                                  • Consumer attitudes – personal appearance
                                                                    • Continuing interest in the latest fashions
                                                                      • Figure 3: Trends in agreement with personal appearance, 2004-08
                                                                    • Spending downturn on clothing could be an accessories opportunity
                                                                      • Consumer attitudes – clothing and accessories
                                                                        • Accessories have competition from jewellery
                                                                          • Figure 4: Trends in agreement with clothing, 2004-08
                                                                      • Broader Market Environment

                                                                        • Key points
                                                                          • GDP, PDI and consumer spending
                                                                            • Figure 5: GDP, PDI and consumer expenditure, 2004, 2006, 2008, 2009, 2010, 2012 and 2014
                                                                          • Weak Pound means higher prices
                                                                            • Rising unemployment
                                                                              • Figure 6: UK workforce, men and women, employed and unemployed, 2004, 2009 and 2014
                                                                            • Changing age structure
                                                                                • Figure 7: Age groups, 2004, 2009 and 2014
                                                                              • ABC1s continue to grow
                                                                                • Figure 8: Demographic groups, men and women, 2004-14
                                                                            • Strengths and Weaknesses

                                                                              • Strengths
                                                                                • Weaknesses
                                                                                • Who’s Innovating?

                                                                                  • Key points
                                                                                    • Luxury goes green
                                                                                      • Bhs capitalises on occasions
                                                                                        • John Lewis taps into skinny trend
                                                                                          • Counter-intuitive pricing strategy
                                                                                            • Sainsbury’s shows women how
                                                                                              • Limited editions are a hit
                                                                                              • Competitive Context

                                                                                                • Key points
                                                                                                  • Fashion accessories – not immune from spending downturn
                                                                                                    • Figure 9: UK retail sales of men’s and women’s fashion accessories, 2004-09
                                                                                                  • Make-up – pamper factor will keep growth steady
                                                                                                    • Figure 10: UK retail value sales, make-up, costume jewellery and footwear, 2004-09
                                                                                                  • Costume jewellery – strong fashion trends
                                                                                                    • Footwear – inexpensive fashion styles stifle value growth
                                                                                                    • Market Size and Forecast

                                                                                                      • Key points
                                                                                                        • Figure 11: Total UK fashion accessories market, at current and constant 2009 prices, 2004-14
                                                                                                      • Market overview
                                                                                                        • Women’s accessories
                                                                                                          • Figure 12: UK retail sales, women’s accessories, at current and constant 2009 prices, 2004-14
                                                                                                        • Moving on from the ‘It bags’
                                                                                                          • Women’s hats have stalled
                                                                                                            • Fashion drives women’s belts
                                                                                                              • Women’s scarves and shawls – a hit in 2008
                                                                                                                • Women’s gloves are off
                                                                                                                  • Ties drive men’s accessories
                                                                                                                    • Figure 13: UK retail sales, men’s fashion accessories, by value at current and constant 2009 prices, 2004-14
                                                                                                                  • Smart and skinny trends drive tie sales
                                                                                                                    • Men’s belts start to tighten
                                                                                                                      • Men’s hats make a statement
                                                                                                                        • Men’s gloves lack appeal
                                                                                                                          • Men’s scarves need to be shown off
                                                                                                                          • Retail Market Share

                                                                                                                            • Key points
                                                                                                                              • Overview
                                                                                                                                • Retail market shares – women’s accessories
                                                                                                                                  • Figure 14: Retail sales, women’s accessories, by outlet type, 2007-09
                                                                                                                                • Retail market shares – men’s accessories
                                                                                                                                  • Figure 15: Retail sales, men’s accessories, by outlet type, 2007-09
                                                                                                                              • The Consumer – What Fashion Accessories They Buy

                                                                                                                                  • Key points
                                                                                                                                      • Figure 16: Fashion accessories bought in the last 12 months, June 2009
                                                                                                                                    • The young dominate purchasing
                                                                                                                                      • Affluence affects ties and scarves
                                                                                                                                        • Cross marketing of accessories
                                                                                                                                        • The Consumer – Where They Buy Accessories

                                                                                                                                            • Key points
                                                                                                                                                • Figure 17: Where fashion accessories are bought, 2008 and 2009
                                                                                                                                              • Winners and losers
                                                                                                                                                  • Figure 18: Winning and losing retailers, in the % of consumers buying accessories from them, 2004-09 and 2008-09
                                                                                                                                                • 2009 retailers bought from
                                                                                                                                                  • M&S needs to make a stronger fashion statement
                                                                                                                                                    • Primark and New Look’s opportunity is men
                                                                                                                                                      • The internet cannot be ignored
                                                                                                                                                        • Further analysis
                                                                                                                                                        • The Consumer – Attitudes towards Buying Handbags

                                                                                                                                                            • Key points
                                                                                                                                                                • Figure 19: Attitudes towards buying handbags, June 2009
                                                                                                                                                              • A wardrobe of bags
                                                                                                                                                                • Tie buying polarisation
                                                                                                                                                                  • Adding value and emotion
                                                                                                                                                                  • Consumer Typologies

                                                                                                                                                                        • Figure 20: Consumer typologies, June 2009
                                                                                                                                                                      • Cheapies (46%)
                                                                                                                                                                        • Fashionistas (39%)
                                                                                                                                                                          • Qualitistas (15%)
                                                                                                                                                                            • Where the consumer groups buy accessories
                                                                                                                                                                            • Retailer Competitor Analysis

                                                                                                                                                                              • Key points
                                                                                                                                                                                • Very competitive market
                                                                                                                                                                                  • Specialists
                                                                                                                                                                                    • Figure 21: Accessory specialists comparison, 2009
                                                                                                                                                                                  • Non-specialists
                                                                                                                                                                                    • Figure 22: Selected non-specialist accessory retailers’ comparison, 2009
                                                                                                                                                                                  • Key analysis
                                                                                                                                                                                  • Brand Communication and Promotion

                                                                                                                                                                                    • Key points
                                                                                                                                                                                      • Figure 23: Total adspend, fashion accessories market, 2004-08
                                                                                                                                                                                    • Low spend on advertising
                                                                                                                                                                                        • Figure 24: Main media spend, fashion accessories, 2004-08
                                                                                                                                                                                    • Companies and Products

                                                                                                                                                                                        • Accessories specialists
                                                                                                                                                                                          • Accessorize
                                                                                                                                                                                              • Figure 25: Monsoon UK & Eire, financial performance and store numbers, 2003-07
                                                                                                                                                                                            • Claire’s Accessories (UK) Ltd
                                                                                                                                                                                                • Figure 26: Claire’s Accessories (UK) Ltd, financial performance, 2004-08
                                                                                                                                                                                              • Tie Rack London
                                                                                                                                                                                                  • Figure 27: Frangi Investments Ltd, financial performance, 2004-08
                                                                                                                                                                                                • Non-specialists
                                                                                                                                                                                                  • Marks & Spencer
                                                                                                                                                                                                    • Next
                                                                                                                                                                                                      • Bhs
                                                                                                                                                                                                        • Clothing specialists
                                                                                                                                                                                                          • Arcadia Group
                                                                                                                                                                                                            • Aurora Fashions (formerly Mosaic Fashions)
                                                                                                                                                                                                              • Oasis
                                                                                                                                                                                                                • Coast
                                                                                                                                                                                                                  • Karen Millen
                                                                                                                                                                                                                    • Warehouse
                                                                                                                                                                                                                      • Other clothing specialists
                                                                                                                                                                                                                        • H&M
                                                                                                                                                                                                                          • New Look
                                                                                                                                                                                                                            • River Island
                                                                                                                                                                                                                              • Value retailers and supermarkets
                                                                                                                                                                                                                                • Primark
                                                                                                                                                                                                                                  • Matalan
                                                                                                                                                                                                                                    • Peacocks
                                                                                                                                                                                                                                      • TK Maxx
                                                                                                                                                                                                                                        • George at Asda
                                                                                                                                                                                                                                          • Tesco
                                                                                                                                                                                                                                            • Sainsbury’s
                                                                                                                                                                                                                                              • Department stores
                                                                                                                                                                                                                                                • Debenhams
                                                                                                                                                                                                                                                    • Figure 28: Debenhams brand and own-brand accessories offer, 2009
                                                                                                                                                                                                                                                  • John Lewis
                                                                                                                                                                                                                                                    • Figure 29: John Lewis brand and own-brand accessories offer, 2009
                                                                                                                                                                                                                                                  • House of Fraser
                                                                                                                                                                                                                                                    • Figure 30: House of Fraser, brand and own-brand accessories offer, 2009
                                                                                                                                                                                                                                                  • Other department stores
                                                                                                                                                                                                                                                    • Sports retailers
                                                                                                                                                                                                                                                      • Figure 31: Main sports retailers, accessories positioning and offer, 2009
                                                                                                                                                                                                                                                    • Mail order/internet
                                                                                                                                                                                                                                                      • Littlewoods Shop Direct
                                                                                                                                                                                                                                                        • Otto Group
                                                                                                                                                                                                                                                          • N Brown
                                                                                                                                                                                                                                                            • Boden
                                                                                                                                                                                                                                                              • Internet retailers
                                                                                                                                                                                                                                                                • Asos.com
                                                                                                                                                                                                                                                                  • Netaporter.com
                                                                                                                                                                                                                                                                    • Specialist accessories internet retailers
                                                                                                                                                                                                                                                                    • Appendix – Internal Market Environment

                                                                                                                                                                                                                                                                        • Figure 32: Personal appearance, by demographics, 2008
                                                                                                                                                                                                                                                                        • Figure 33: Clothing, by demographics, 2008
                                                                                                                                                                                                                                                                    • Appendix – Market Size and Forecast

                                                                                                                                                                                                                                                                        • Figure 34: UK retail sales of handbags, by value at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                        • Figure 35: UK retail sales of women’s hats, by value at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                        • Figure 36: UK retail sales of women’s belts, by value at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                        • Figure 37: UK retail sales, women’s scarves/shawls, by value at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                        • Figure 38: UK retail sales, women’s gloves, by value at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                        • Figure 39: UK retail sales, men’s ties, by value at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                        • Figure 40: UK retail sales of men’s belts, by value, at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                        • Figure 41: Retail sales, men’s hats by value at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                        • Figure 42: Retail sales, men’s gloves, by value at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                        • Figure 43: Retail sales, men’s scarves, by value at current and constant 2009 prices, 2004-14
                                                                                                                                                                                                                                                                      • Factors used in the forecasts
                                                                                                                                                                                                                                                                      • Appendix – What Fashion Accessories They Buy

                                                                                                                                                                                                                                                                          • Figure 44: Fashion accessories bought, by demographics, June 2009
                                                                                                                                                                                                                                                                          • Figure 45: Men: fashion accessories bought, by age, working status and socio-economic group, June 2009
                                                                                                                                                                                                                                                                      • Appendix – Where They Buy Accessories

                                                                                                                                                                                                                                                                          • Figure 46: Accessories bought, from outlets, by demographics, June 2009
                                                                                                                                                                                                                                                                          • Figure 47: Where consumers have bought fashion accessories, 2004, 2005, 2008 and 2009
                                                                                                                                                                                                                                                                          • Figure 48: Accessories bought, from outlets, by demographics, June 2009
                                                                                                                                                                                                                                                                          • Figure 49: Accessories bought, from outlets, by demographics, June 2009
                                                                                                                                                                                                                                                                          • Figure 50: Accessories bought, by outlets, June 2009
                                                                                                                                                                                                                                                                          • Figure 51: Accessories bought, by outlets, June 2009
                                                                                                                                                                                                                                                                          • Figure 52: Accessories bought, by outlets, June 2009
                                                                                                                                                                                                                                                                          • Figure 53: Fashion accessories bought, by outlets, June 2009
                                                                                                                                                                                                                                                                      • Appendix – Attitudes towards Buying Handbags

                                                                                                                                                                                                                                                                          • Figure 54: Attitudes, by bought accessories, June 2009
                                                                                                                                                                                                                                                                          • Figure 55: Attitudes, by accessories, June 2009
                                                                                                                                                                                                                                                                          • Figure 56: Bought accessories from outlets, by fashion accessories bought, June 2009
                                                                                                                                                                                                                                                                          • Figure 57: Attitudes towards buying handbags, by demographics, June 2009
                                                                                                                                                                                                                                                                          • Figure 58: Fashion accessories bought, by attitudes towards buying handbags, June 2009
                                                                                                                                                                                                                                                                          • Figure 59: Attitudes, by fashion accessories bought, June 2009
                                                                                                                                                                                                                                                                          • Figure 60: Bought accessories from outlets, by attitudes towards buying handbags, June 2009
                                                                                                                                                                                                                                                                          • Figure 61: Most popular attitudes towards buying handbags, by bought accessories from outlets, June 2009
                                                                                                                                                                                                                                                                      • Appendix – Consumer Typologies

                                                                                                                                                                                                                                                                          • Figure 62: Outlets bought from, by target groups, June 2009
                                                                                                                                                                                                                                                                          • Figure 63: Target groups, by demographics, June 2009
                                                                                                                                                                                                                                                                          • Figure 64: Attitudes towards buying handbags, by target groups, June 2009

                                                                                                                                                                                                                                                                      Companies Covered

                                                                                                                                                                                                                                                                      • Adidas
                                                                                                                                                                                                                                                                      • Amazon.co.uk
                                                                                                                                                                                                                                                                      • Apollo Advisors, L.P.
                                                                                                                                                                                                                                                                      • Arcadia Group
                                                                                                                                                                                                                                                                      • Argos
                                                                                                                                                                                                                                                                      • Asda Group Ltd
                                                                                                                                                                                                                                                                      • ASOS
                                                                                                                                                                                                                                                                      • Aurora Fashions
                                                                                                                                                                                                                                                                      • Baugur
                                                                                                                                                                                                                                                                      • Ben Sherman
                                                                                                                                                                                                                                                                      • Berghaus Ltd
                                                                                                                                                                                                                                                                      • Betty Jackson Ltd
                                                                                                                                                                                                                                                                      • Bhs Ltd
                                                                                                                                                                                                                                                                      • Boden UK
                                                                                                                                                                                                                                                                      • British Market Research Bureau (BMRB)
                                                                                                                                                                                                                                                                      • Burton old
                                                                                                                                                                                                                                                                      • Christian Dior
                                                                                                                                                                                                                                                                      • Claire's Accessories
                                                                                                                                                                                                                                                                      • Claire's Stores Inc
                                                                                                                                                                                                                                                                      • Co-operative Group
                                                                                                                                                                                                                                                                      • Debenhams Total (GTV)
                                                                                                                                                                                                                                                                      • Deloitte Touche Tohmatsu
                                                                                                                                                                                                                                                                      • Diesel
                                                                                                                                                                                                                                                                      • Dolce & Gabbana
                                                                                                                                                                                                                                                                      • Donna Karan International Inc.
                                                                                                                                                                                                                                                                      • Dorothy Perkins old
                                                                                                                                                                                                                                                                      • Duffer of St George
                                                                                                                                                                                                                                                                      • Energie
                                                                                                                                                                                                                                                                      • Episode
                                                                                                                                                                                                                                                                      • Evans old
                                                                                                                                                                                                                                                                      • Facebook, Inc.
                                                                                                                                                                                                                                                                      • Failsworth Hats Ltd
                                                                                                                                                                                                                                                                      • Firetrap
                                                                                                                                                                                                                                                                      • Fossil
                                                                                                                                                                                                                                                                      • Frangi SpA
                                                                                                                                                                                                                                                                      • Freemans Plc
                                                                                                                                                                                                                                                                      • French Connection (Retail)
                                                                                                                                                                                                                                                                      • Gant Retail Ltd
                                                                                                                                                                                                                                                                      • Gap Inc
                                                                                                                                                                                                                                                                      • Gfk NOP
                                                                                                                                                                                                                                                                      • Grattan Plc
                                                                                                                                                                                                                                                                      • Gucci Group N.V.
                                                                                                                                                                                                                                                                      • H Samuel Ltd
                                                                                                                                                                                                                                                                      • H&M Hennes & Mauritz
                                                                                                                                                                                                                                                                      • Hermes (GB) Ltd
                                                                                                                                                                                                                                                                      • House of Fraser Plc
                                                                                                                                                                                                                                                                      • Hugo Boss
                                                                                                                                                                                                                                                                      • J. Choo Limited
                                                                                                                                                                                                                                                                      • J. Sainsbury
                                                                                                                                                                                                                                                                      • Jaeger Company's Shops Ltd
                                                                                                                                                                                                                                                                      • Jane Shilton Plc
                                                                                                                                                                                                                                                                      • Jasper Conran
                                                                                                                                                                                                                                                                      • JD Sports Fashion plc
                                                                                                                                                                                                                                                                      • JJB Sports Plc
                                                                                                                                                                                                                                                                      • John Lewis Partnership
                                                                                                                                                                                                                                                                      • John Rocha
                                                                                                                                                                                                                                                                      • Kangol
                                                                                                                                                                                                                                                                      • Karen Millen
                                                                                                                                                                                                                                                                      • Kenneth Cole Productions, Inc.
                                                                                                                                                                                                                                                                      • Kering
                                                                                                                                                                                                                                                                      • Lacoste
                                                                                                                                                                                                                                                                      • Levi Strauss (UK) Ltd
                                                                                                                                                                                                                                                                      • Liberty Retail Plc
                                                                                                                                                                                                                                                                      • LVMH Moët Hennessy Louis Vuitton SA
                                                                                                                                                                                                                                                                      • Marks & Spencer
                                                                                                                                                                                                                                                                      • Matalan Ltd
                                                                                                                                                                                                                                                                      • Miss Selfridge
                                                                                                                                                                                                                                                                      • Miss Sixty
                                                                                                                                                                                                                                                                      • Monsoon Accessorize Ltd - UK
                                                                                                                                                                                                                                                                      • Moschino
                                                                                                                                                                                                                                                                      • Mulberry Group
                                                                                                                                                                                                                                                                      • N Brown Group Plc
                                                                                                                                                                                                                                                                      • New Look Group Plc
                                                                                                                                                                                                                                                                      • Next Group
                                                                                                                                                                                                                                                                      • Nike
                                                                                                                                                                                                                                                                      • Oasis Fashions Ltd - UK
                                                                                                                                                                                                                                                                      • Olney Headwear
                                                                                                                                                                                                                                                                      • Osprey Holidays Ltd.
                                                                                                                                                                                                                                                                      • Otto Group (Multichannel Retail)
                                                                                                                                                                                                                                                                      • Paul Smith Ltd
                                                                                                                                                                                                                                                                      • Peacocks
                                                                                                                                                                                                                                                                      • Prada (I Pellettieri d'Italia S.p.A.)
                                                                                                                                                                                                                                                                      • Primark Stores Ltd
                                                                                                                                                                                                                                                                      • PUMA AG Rudolf Dassler Sport
                                                                                                                                                                                                                                                                      • Quiksilver, Inc.
                                                                                                                                                                                                                                                                      • Ralph Lauren Ltd
                                                                                                                                                                                                                                                                      • Reebok International Ltd
                                                                                                                                                                                                                                                                      • Reiss Ltd
                                                                                                                                                                                                                                                                      • River Island Clothing Co Ltd
                                                                                                                                                                                                                                                                      • Selfridges Retail Ltd
                                                                                                                                                                                                                                                                      • Shop Direct Group
                                                                                                                                                                                                                                                                      • Sock Shop UK
                                                                                                                                                                                                                                                                      • Sports Direct UK
                                                                                                                                                                                                                                                                      • Stella McCartney
                                                                                                                                                                                                                                                                      • Ted Baker
                                                                                                                                                                                                                                                                      • Tesco Plc
                                                                                                                                                                                                                                                                      • The TJX Companies
                                                                                                                                                                                                                                                                      • Thomson’s Group plc
                                                                                                                                                                                                                                                                      • Tie Rack
                                                                                                                                                                                                                                                                      • Tommy Hilfiger Corporation
                                                                                                                                                                                                                                                                      • Topman old
                                                                                                                                                                                                                                                                      • Topshop old
                                                                                                                                                                                                                                                                      • Tula Group Plc
                                                                                                                                                                                                                                                                      • Umbro International Limited
                                                                                                                                                                                                                                                                      • Virgin Group Ltd.
                                                                                                                                                                                                                                                                      • Waitrose
                                                                                                                                                                                                                                                                      • Wallis old
                                                                                                                                                                                                                                                                      • Warehouse Ltd
                                                                                                                                                                                                                                                                      • Wm Morrison Supermarkets
                                                                                                                                                                                                                                                                      • Yves Saint Laurent

                                                                                                                                                                                                                                                                      Fashion Accessories Retailing - UK - July 2009

                                                                                                                                                                                                                                                                      £1,995.00 (Excl.Tax)