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Fashion Accessories - UK - October 2012

“The majority of women in Britain still see buying new accessories as a cheap way of updating their look. Despite this, as the economic outlook remains uncertain women are becoming choosier about what they buy and quality appears to have become more important with fewer women buying handbags every year, but when they do buy they are spending more.”

– Tamara Sender, Senior Clothing Analyst

Some questions answered in this report include:

  • What has happened to sales of accessories in the last year and what areas are performing best?
  • Which retailers and brands stand out in the fashion accessories sector?
  • What can retailers do to encourage more accessories purchases?
  • Has there been a move towards buying more quality items?

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Table of contents

  1. Introduction

      • Definitions
        • Abbreviations
        • Executive Summary

            • The market
              • Figure 1: Best- and worst-case forecast of UK value sales of fashion accessories, 2007-17
            • Market remains buoyant
              • Market factors
                • Young and old see accessories as important
                  • Figure 2: Agreement with statement ‘I consider accessories very important’, by gender and age, 2012
                • Drop in women buying handbags, but average spend rises
                  • Fewer men buy ties
                    • Fall in accessory-mad under-25s likely to affect sales
                      • Companies, brands and innovation
                        • Brand promotion
                          • Who’s innovating
                            • The consumer
                              • Half of women bought new handbags
                                • Figure 3: Recent purchase of accessories, by gender, July 2012
                              • Value retailers lead for accessories
                                • Figure 4: Where accessories are bought, in-store and online, July 2012
                              • Needs-driven purchases versus impulse buys
                                • Figure 5: Attitudes towards buying fashion accessories, by gender, July 2012
                              • Rise in sales buying
                                • Women prioritise design over brand
                                  • Figure 6: Agreement with statements ‘Design is more important than the brand’ and ‘I prefer to buy well-known designer brands’, by gender, age and socio-economic group, July 2012
                                • 25-44s see accessories as a cheap way of updating a look
                                  • Figure 7: Consumer attitudes towards accessories, by age, July 2012
                                • Affluent, young men invest in quality
                                  • A third buy several less expensive handbags
                                    • Figure 8: Agreement with statements ‘I buy several less expensive handbags’ and ‘I have only bought one expensive handbag’, by age, July 2012
                                  • Highly desired bags
                                    • Two fifths buy inexpensive costume jewellery
                                      • What we think
                                      • Issues in the Market

                                          • What has happened to sales of accessories in the last year and what areas are performing best?
                                            • Which retailers and brands stand out in the fashion accessories sector?
                                              • What can retailers do to encourage more accessories purchases?
                                                • Has there been a move towards buying more quality items?
                                                • Trend Applications

                                                    • Trend: Guiding Choice
                                                      • Trend: Moral Brands
                                                        • 2015 Trend: Access Anything Anywhere
                                                        • Market Drivers

                                                          • Key points
                                                            • Clothing remains a high priority
                                                              • Figure 9: How important clothing is in terms of budget, 2011 and 2012
                                                            • Fashion and appearance suffer in downturn
                                                              • Figure 10: Consumer attitudes towards personal appearance, 2008-12
                                                            • Accessories drop in importance
                                                              • Figure 11: Consumer attitudes towards accessories, 2008-12
                                                            • Young and old see accessories as important
                                                              • Figure 12: Agreement with statement ‘I consider accessories very important’, by gender and age, 2012
                                                            • Who wears costume jewellery?
                                                              • Figure 13: Agreement with statement ‘I often wear costume jewellery’, by age, 2012
                                                            • Drop in women buying handbags, but average spend rises
                                                              • Figure 14: Expenditure on handbags, 2008-12
                                                            • Fewer men buy ties
                                                              • Figure 15: Men’s expenditure on ties, 2008-12
                                                            • Spend on other accessories remains static
                                                              • Figure 16: Expenditure on gloves, belts and other accessories, 2008-12
                                                              • Figure 17: Trends in the age structure of the UK population, 2007-17
                                                            • Costume jewellery to benefit from rise in 25-34s
                                                              • Growth in older consumers will drive sales of expensive handbags
                                                                • Slower growth in ABs will impact designer brands
                                                                  • Consumer confidence
                                                                  • Strengths and Weaknesses

                                                                    • Strengths
                                                                      • Weaknesses
                                                                      • Who’s Innovating?

                                                                        • New accessories ranges
                                                                          • Pushing the boundaries between the online and in-store
                                                                            • Arriving in the UK
                                                                              • Celebrity/brand collaborations
                                                                                • Counterfeiting
                                                                                • Competitive Context

                                                                                  • Key points
                                                                                    • Accessories outperform other sectors
                                                                                      • Figure 18: UK retail value sales of clothing and adornment products, at current prices, 2007-12
                                                                                    • Accessories account for 4% of the clothing and adornment sector
                                                                                      • Figure 19: UK retail value sales of clothing and adornment products, at current prices, 2007-12
                                                                                  • Market Size and Forecast

                                                                                    • Key points
                                                                                      • Market remains buoyant
                                                                                        • Figure 20: Value sales of fashion accessories, at current and constant prices, 2007-17
                                                                                      • The future
                                                                                        • Fashion accessories sales to more than double by 2017
                                                                                          • Figure 21: Best- and worst-case forecast of UK value sales of fashion accessories, 2007-17
                                                                                        • Factors used in the forecast
                                                                                          • Market share for fashion accessories
                                                                                            • Figure 22: Major clothing retailers, estimated market share for fashion accessories, 2011
                                                                                        • Segment Performance

                                                                                          • Key points
                                                                                            • Figure 23: UK retail sales of fashion accessories, by sector, 2007-12
                                                                                          • Handbags
                                                                                            • Costume jewellery
                                                                                              • Hats
                                                                                                • Scarves
                                                                                                • Space Allocation Summary

                                                                                                  • Key points
                                                                                                    • Space allocations: Detailed estimates
                                                                                                      • Figure 24: Space allocation estimates for fashion accessories, September 2012
                                                                                                    • Estimated sales breakdown
                                                                                                      • Figure 25: Estimated sales breakdown for fashion accessories, 2011/12
                                                                                                      • Figure 26: Arcadia chains, estimated sales breakdown for fashion accessories, 2011/12
                                                                                                      • Figure 27: Major clothing retailers, sales densities for fashion accessories, 2011
                                                                                                  • Retailer Profiles

                                                                                                        • Figure 28: Key financial and other performance indicators of Monsoon Accessorize Limited, 2010 and 2011
                                                                                                        • Figure 29: Key financial and other performance indicators of Claire’s Accessories UK Limited, 2009/10 and 2010/11
                                                                                                        • Figure 30: Key financial and performance indicators of Tie Rack Group Limited, 2010 and 2011
                                                                                                        • Figure 31: Key financial and performance indicators of Radley + Co Ltd., 2010 and 2011
                                                                                                        • Figure 32: Key financial and performance indicators of Mulberry Group Plc, 2010-12
                                                                                                        • Figure 33: Key financial and performance indicators of Jane Shilton Plc, 2010 and 2011
                                                                                                        • Figure 34: Key financials – Swarovski UK Limited, 2009 and 2010
                                                                                                    • Brand Communication and Promotion

                                                                                                      • Key points
                                                                                                        • Fashion accessories brands increase adspend
                                                                                                          • Figure 35: Expenditure on advertising, by main fashion accessories brands and retailers, 2008-12
                                                                                                        • Internet browsing habits
                                                                                                          • Figure 36: Visitors to accessories websites, August 2012
                                                                                                      • The Consumer – Recent Purchase of Accessories

                                                                                                        • Key points
                                                                                                            • Figure 37: Recent purchase of accessories, by gender, July 2012
                                                                                                          • Half of women bought new handbags
                                                                                                            • A third of women purchased costume jewellery
                                                                                                              • The male market
                                                                                                                • Most accessories are being bought by under-35s
                                                                                                                  • Figure 38: Recent purchase of accessories, by age, July 2012
                                                                                                                • Accessory purchases fall in last year
                                                                                                                  • A third bought three or more items
                                                                                                                    • Figure 39: Repertoire of fashion accessories bought in the last 12 months, by gender, July 2012
                                                                                                                • The Consumer – Where Accessories are Bought

                                                                                                                  • Key points
                                                                                                                      • Figure 40: Where accessories are bought, July 2012
                                                                                                                      • Figure 41: Where accessories are bought, by gender, July 2012
                                                                                                                    • Value retailers
                                                                                                                      • Women’s fashion stores
                                                                                                                        • Supermarkets
                                                                                                                          • M&S
                                                                                                                            • Next
                                                                                                                              • Men’s fashion stores
                                                                                                                                • Department stores
                                                                                                                                  • Accessorize
                                                                                                                                    • Online accessory shoppers
                                                                                                                                      • Figure 42: Where accessories are bought, in-store and online, July 2012
                                                                                                                                    • Designer stores
                                                                                                                                      • Independents and craft stores
                                                                                                                                        • Most browse and buy in-store
                                                                                                                                          • Figure 43: How accessories are bought, July 2012
                                                                                                                                      • The Consumer – Attitudes Towards Buying Fashion Accessories

                                                                                                                                        • Key points
                                                                                                                                            • Figure 44: Attitudes towards buying fashion accessories, by gender, July 2012
                                                                                                                                          • Needs-driven purchases
                                                                                                                                            • Rise in sales buying
                                                                                                                                              • Impulse buying
                                                                                                                                                • One in five women cut back
                                                                                                                                                  • Female 25-34s like to coordinate accessories and clothes
                                                                                                                                                    • Under-25s buy day and evening accessories
                                                                                                                                                      • Gift buying
                                                                                                                                                      • The Consumer – Further Attitudes Towards Fashion Accessories

                                                                                                                                                        • Key points
                                                                                                                                                            • Figure 45: Further attitudes towards accessories, July 2012
                                                                                                                                                          • Women prioritise design over brand
                                                                                                                                                            • Figure 46: Agreement with statements ‘Design is more important than the brand’ and ‘I prefer to buy well-known designer brands’, by gender, age and socio-economic group, July 2012
                                                                                                                                                          • Men show preference for designer brands
                                                                                                                                                            • 25-44s see accessories as a cheap way of updating a look
                                                                                                                                                              • Figure 47: Agreement with statements ‘I prefer mixing cheap fashion with expensive accessories’ and ‘Buying new accessories is a cheap way of updating my look’, by age, July 2012
                                                                                                                                                            • Affluent, young men invest in quality
                                                                                                                                                              • Figure 48: Agreement with statement ‘It’s better to invest in quality items that will last’, by gender, age and socio-economic group, July 2012
                                                                                                                                                            • Experimenting with accessories
                                                                                                                                                              • Figure 49: Agreement with statements ‘I like to experiment with new styles of accessories’ and ‘A stylish accessory makes me feel fashionable’, by age, July 2012
                                                                                                                                                            • Comparing prices online
                                                                                                                                                              • Under-35s enjoy reading online fashion blogs before buying
                                                                                                                                                              • The Consumer – Attitudes Towards Handbags or Costume Jewellery

                                                                                                                                                                • Key points
                                                                                                                                                                    • Figure 50: Consumer attitudes towards handbags and/or costume jewellery, July 2012
                                                                                                                                                                  • A third buy several less expensive handbags
                                                                                                                                                                    • Figure 51: Agreement with statements ‘I buy several less expensive handbags’ and ‘I have only bought one expensive handbag’, by age, July 2012
                                                                                                                                                                  • Highly desired bags
                                                                                                                                                                    • Two fifths buy inexpensive costume jewellery
                                                                                                                                                                      • Figure 52: Agreement with statements ‘I buy inexpensive costume jewellery’ and ‘I have bought more costume jewellery than jewellery made from precious metals’, by age, July 2012
                                                                                                                                                                    • Matching jewellery to outfits
                                                                                                                                                                    • The Consumer – Target Groups

                                                                                                                                                                      • Key points
                                                                                                                                                                          • Figure 53: Marketing targets for fashion accessories, July 2012
                                                                                                                                                                        • Born to Accessorize (25%)
                                                                                                                                                                          • Quality Focused (29%)
                                                                                                                                                                            • Bargain Hunters (23%)
                                                                                                                                                                              • Needs Driven Buyers (23%)
                                                                                                                                                                              • Appendix – Market Drivers

                                                                                                                                                                                  • Figure 54: Attitudes towards personal appearance, by demographics, 2012
                                                                                                                                                                                  • Figure 55: Consumer attitudes towards accessories, by demographics, 2012
                                                                                                                                                                                  • Figure 56: Forecast adult population trends, by socio-economic group, 2007-17
                                                                                                                                                                                  • Figure 57: GDP, PDI, consumer expenditure and savings, at current prices, 2007-17
                                                                                                                                                                              • Appendix – Market Size and Forecast

                                                                                                                                                                                  • Figure 58: Best- and worst-case forecast of UK value sales of fashion accessories, 2012-17
                                                                                                                                                                              • Appendix – The Consumer – Recent Purchase of Accessories

                                                                                                                                                                                  • Figure 59: Most popular recent purchase of accessories, by demographics, July 2012
                                                                                                                                                                                  • Figure 60: Next most popular recent purchase of accessories, by demographics, July 2012
                                                                                                                                                                                  • Figure 61: Repertoire of fashion accessories bought, by demographics, July 2012
                                                                                                                                                                              • Appendix – The Consumer – Where Accessories Are Bought

                                                                                                                                                                                  • Figure 62: Most popular where accessories are bought in-store, by demographics, July 2012
                                                                                                                                                                                  • Figure 63: Next most popular where accessories are bought in-store, by demographics, July 2012
                                                                                                                                                                                  • Figure 64: Other where accessories are bought in-store, by demographics, July 2012
                                                                                                                                                                                  • Figure 65: Where accessories are bought online, by demographics, July 2012
                                                                                                                                                                              • Appendix – The Consumer – Attitudes Towards Buying Accessories

                                                                                                                                                                                  • Figure 66: Most popular attitudes towards buying fashion accessories, by demographics, July 2012
                                                                                                                                                                                  • Figure 67: Next most popular attitudes towards buying fashion accessories, by demographics, July 2012
                                                                                                                                                                              • Appendix – The Consumer – Further Attitudes Towards Buying Fashion Accessories

                                                                                                                                                                                  • Figure 68: Agreement with the statements ‘I prefer mixing cheap fashion with expensive accessories’ and ‘It’s better to invest in quality items that will last’, by demographics, July 2012
                                                                                                                                                                                  • Figure 69: Agreement with the statements ‘I like to experiment with new styles of accessories’ and ‘A stylish accessory makes me feel fashionable’, by demographics, July 2012
                                                                                                                                                                                  • Figure 70: Agreement with the statements ‘The design is more important than the brand’ and ‘Buying new accessories is a cheap way of updating my look’, by demographics, July 2012
                                                                                                                                                                                  • Figure 71: Agreement with the statements ‘I prefer to buy well-known designer brands’ and ‘It’s important for branded accessories to be authentic’, by demographics, July 2012
                                                                                                                                                                                  • Figure 72: Agreement with the statements ‘I enjoy looking at online fashion reviews and blogs before buying accessories’ and ‘I prefer to shop around online comparing prices before buying accessories’, by demographics, July 2012
                                                                                                                                                                              • Appendix – The Consumer – Attitudes Towards Handbags or Costume Jewellery

                                                                                                                                                                                  • Figure 73: Consumer attitudes towards handbags and/or costume jewellery, by demographics, July 2012
                                                                                                                                                                              • Appendix – The Consumer – Target Groups

                                                                                                                                                                                  • Figure 74: Target groups, by demographics, July 2012

                                                                                                                                                                              Companies Covered

                                                                                                                                                                              • Accessorize UK
                                                                                                                                                                              • Bank of England
                                                                                                                                                                              • British Heart Foundation
                                                                                                                                                                              • Cellini
                                                                                                                                                                              • Claire's Accessories
                                                                                                                                                                              • Claire's Stores Europe
                                                                                                                                                                              • Facebook, Inc.
                                                                                                                                                                              • Hidesign
                                                                                                                                                                              • Hugo Boss
                                                                                                                                                                              • Jane Shilton Plc
                                                                                                                                                                              • Monsoon Accessorize Ltd - UK
                                                                                                                                                                              • Mulberry Group
                                                                                                                                                                              • Next Group
                                                                                                                                                                              • Radley
                                                                                                                                                                              • Swarovski
                                                                                                                                                                              • Tie Rack
                                                                                                                                                                              • Tula Group Plc
                                                                                                                                                                              • Tumi Inc

                                                                                                                                                                              Fashion Accessories - UK - October 2012

                                                                                                                                                                              £1,995.00 (Excl.Tax)