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UK Fashion Accessories Market Report 2024

UK Fashion Accessories Market Report 2024

Market Intelligence Reports Clothing and Fashion Clothing and Footwear Retail UK

Following the pandemic-era boom supported by demand for luxury accessories, 2024 will see softer growth as shopping savvy becomes more pronounced with a growing demand of second-hand offerings for accessories or others seeking out dupes of luxury items.

Fashion Accessories Market – Current Landscape

Second-hand fashion accessories are increasingly popular, with online marketplaces like Vinted and eBay ranking third among top retailers. Consumers are actively buying and selling second-hand, which is seeing more retailers investing in these services, and bringing them in-house can ensure stronger consumer demand within the accessories market.

The UK fashion accessories market is shifting as consumer preferences evolve, with economic uncertainty making shoppers, especially younger ones, more savvy. Over half of consumers are interested in dupes, showing a trend towards affordable alternatives resembling luxury items. This trend reshapes the industry, highlighting demand for fashionable, budget-friendly options, and launching accessible ranges can combat dupe culture.

There is an exciting opportunity for brands to capitalise on emerging consumer interests. With a noticeable rise in interest for gender-neutral and sustainable fashion accessories, brands can diversify their offerings to cater to these growing segments. By embracing inclusive and eco-friendly practices, brands can not only meet consumer demands, but also make consumers feel better about their purchases.

Fashion Accessories Market Statistics

Fashion accessories market behaviours: 63% of bag shoppers have bought fewer bags in the past 12 months compared to the previous year.
Fashion accessories market consumer behaviours: 54% of shoppers are interested in dupes.
Fashion accessories market challenge: Consumers are actively buying and selling second-hand, with 32% interested in buying and 34% in selling.

Fashion Accessories Market – What’s Inside?

Key Topics Analysed in the Report

The size and five-year forecast of the fashion accessories market, and estimated share of fashion accessories by product categories.
Fashion accessories purchased in the last year, and for whom the fashion accessories were purchased for.
The continued importance of the online channel when it comes to purchasing fashion accessories, as online-only retailers and online marketplaces are in the top three most popular retailers for buying fashion accessories.
Types of bags purchased in the last year, and behaviours towards bag buying, such as functionality, style and the importance of sustainability.
Current and future behaviours around fashion accessories, including interest in buying or selling second-hand fashion accessories, and buying replicas of luxury items.
Consumer interest around fashion accessory innovations like alternative materials, and the use of technology when it comes to buying fashion accessories.

Report Scope

This Report examines the purchasing of fashion accessories through all retail channels. It covers a broad range of accessories including:

Handbags
Costume jewellery
Belts
Scarves
Hats
Gloves
Ties
And hair accessories

Meet the Expert Behind the Analysis

Neil manages the teams that produce the European Retail Reports. Neil joined Mintel in 1995 and previously worked as Head of Fashion/Beauty and Personal Care/Household, and Head of UK Retail. Before joining Mintel, he worked in the food and publishing industries. He has a BSc in Business Studies/Marketing from the University of Newcastle-upon-tyne.

With softer demand expected, shoppers are prioritising value. With second-hand shopping gaining popularity, particularly for fashion accessories like handbags, as consumers increasingly seek pre-loved luxury items.

Neil Mason
Head of Retail Research

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Executive Summary
- Opportunities for the fashion accessories market
- Savvy shopping impacts demand of luxury accessories
- Sustainability can give fashion accessories an edge
- Digital authentication can bolster demand from younger consumers
- Cohesive second-hand offerings are vital to the fashion accessory market
- Market dynamics and outlook
- Market size & forecast
- Market predictions
- Consumer spending on fashion accessories will be consistent looking to the future
- Market share remains relatively flat since 2021
- Graph 1: estimated consumer spending on fashion accessories by subcategory, 2024
- Inbound tourism remains below pre-pandemic levels
- Graph 2: total overseas residents visits and spending, 2013-23
- What consumers want and why
- Buying patterns remain relatively similar to 2021
- Graph 3: types of fashion accessories bought in the last 12 months, % of respondents, 2019, 2021 & 2024
- Buying for oneself remains the most popular
- Graph 4: who fashion accessories have been purchased for, 2021 and 2024
- The most common way to purchase fashion accessories is via online
- Graph 5: channels used to purchase fashion accessories in the last 12 months, 2021 and 2024
- Marketplaces thrive as young consumers buy fashion accessories
- Graph 6: retailers used to purchase fashion accessories in the last 12 months, % of respondents, 2021 and 2024
- Consumers continue to shop savvy for fashion accessories
- Graph 7: current and future behaviour towards fashion accessory purchasing, 2024
- Functionality and versatility are most important when buying bags
- Graph 8: consumer behaviour towards bag purchasing, 2024
- Majority of consumers are interested in innovations for fashion accessories
- Graph 9: fashion accessory shopping behaviours in the next 12 months that consumers would be intersted in, 2024
- Innovation and marketing
- Coach captures the market with Coachtopia
- Graph 10: leading accessory retailers, growth in spend and customer numbers, 2023/24
- Adspend levels settle from peak in 2023
- Graph 11: total above-the line, online display and direct mail advertising expenditure on fashion accessories, 2020-24
Market Dynamics
- Market size
- Demand released following pandemic years…
- Graph 12: consumer spending on fashion accessories, 2019-24
- …while 2024 expects a softer growth for fashion accessories
- Market forecast
- Steady growth expected for fashion accessories
- Buying second-hand will influence accessory retailers
- Market segmentation
- Bags account for biggest share of consumer spending
- Graph 13: estimated consumer spending on fashion accessories, by sub category, 2024
- Consumers are spending the most on bags
- Softer demand expected in 2024 for all accessories
- Market drivers
- Consumer confidence for the year ahead
- Graph 14: the financial confidence index, 2016-24
- Luxury sales slow down
- Tax-free shopping impacts tourists visits
- Graph 15: total overseas residents spending, 2013-23
- Proof of authenticity is a growing concern for retailers and consumers alike
- More people are using social media to research potential purchases
- Graph 16: social media platform most likely to be used to research a potential purchase, by 16-24s, 2024
- The changing age structure of the UK’s population
- Graph 17: population, by age, 2004-64
- All clothing and accessories have seen a dip in consumer demand
- Graph 18: trends in fashion items purchased in the last three months, 2021-24
What Consumers Want and Why
- Fashion accessories purchased
- 63% of consumers have purchased an accessory in the last 12 months
- Graph 19: types of fashion accessories bought in the last 12 months, % of respondents, 2019, 2021 & 2024
- Gen Z are keen buyers of fashion accessories
- Gen Z and Millennials are driving accessory demand
- Graph 20: type of jewellery purchased in the last 12 months, by generation, 2024
- High earners are purchasing more accessories
- Graph 21: types of fashion accessories bought in the last 12 months, by household income, 2024
- Types of bags purchased
- Backpacks are the most popular bag
- Men seek functionality when it comes to bag buying
- Graph 22: types of bags purchased in the last 12 months, by gender, 2024
- Shoulder bags are most popular amongst women
- Graph 23: types of bags purchased, by age groups among women, 2024
- Social media  bolsters demand for crossbody bags among the young
- Tote bags are being bought by younger generations
- Graph 24: types of bags purchased in the last 12 months, by generation, 2024
- Tote bags are being bought by younger generations
- Graph 25: types of bags purchased in the last 12 months, by generation, 2024
- Who fashion accessories are bought for
- Consumers continue to buy accessories for themselves
- Graph 26: who fashion accessories have been purchased for, 2021 and 2024
- Purchasing accessories for children see slight uptick
- Graph 27: fashion accessories purchased for whom, 2024
- Men are purchasing for their partners
- Graph 28: who fashion accessories have been purchased for, by gender, 2024
- Parents are buying accessories for their children
- Graph 29: number of people who bought fashion accessories for their children, by age of children in household, 2024
- High earners are more actively purchasing accessories
- Graph 30: who fashion accessories have been purchased for, by household income, 2024
- How and where they shop
- Online remains the most popular method
- Graph 31: channels used to purchase fashion accessories in the last 12 months, 2021 and 2024
- Gen Z is shopping in-store and through their phones
- Graph 32: channel used to purchase fashion accessories in the last 12 months, by generation, 2024
- Online-only retailers come out on top
- Graph 33: retailers used to purchase fashion accessories in the last 12 months, % of respondents, 2021 and 2024
- Marketplaces round out the top three retailers
- Younger consumers take to online retailers
- Graph 34: average age and household income of fashion accessory retailers, 2024
- Current and future behaviours for fashion accessory purchasing
- Fashion accessory shoppers are shopping more savvy
- Special occasions drive accessory purchasing from Gen Z
- Younger consumers are  buying dupes
- Graph 35: current and future behaviour towards “Bought replicas of designer fashion accessories (eg dupes),” 2024
- Younger consumers are shopping more savvily
- Graph 36: current behaviours towards value when purchasing accessories, 2024
- Second-hand fashion accessories appeal to consumers
- Graph 37: current and future interest towards secondhand market for fashion accessories, 2024
- Young drive demand for more gender-neutral fashion
- Graph 38: current and future behaviour towards “Bought gender neutral fashion accessories,” 2024
- Consumer behaviours towards purchasing bags
- Consumers buy bags for a multitude of reasons
- Graph 39: consumer behaviour towards bag purchasing, 2024
- Younger consumers have stronger sentiments towards bag buying
- Graph 40: consumer behaviour towards bags, by age, 2024
- Designer bags remain popular
- Graph 41: consumer behaviour towards “A designer bag (eg Burberry, Mulberry) that is made with cheaper materials (eg nylon, denim) is appealing to me,” by age, 2024
- Proof of authenticity resonates with younger consumers
- Convenience with bags is important to younger consumers
- Graph 42: consumer behaviour towards functionality in bag bying behaviour by age group, 2024
- Interest in fashion accessory innovations
- Innovations that align with sustainability and technology appeal to consumers
- Buying fashion accessories on the metaverse appeals to Gen Z
- Graph 43: interest in fashion accessory technological innovation, by generation, 2024
- Smarter accessories appeal to consumers
- Graph 44: consumer interest in “accessories that can charge my devices using renewable energy (eg solar power),” by area, 2024
- Sustainability can be a future driver to purchase fashion accessories
- Graph 45: consumer interest in accessories with sustainable materials by gender, 2024
- Disney taps into the “magic” of 3D-printing with Coperni
Retailer Activity
- Leading players
- Comparing leading accessory retailers in the UK
- Tapping into circularity drives demand for Coach
- Graph 46: leading accessory retailers, growth in spend and customer numbers, 2023/24
- Luxury retailers face weakened demand
- Louis Vuitton maintains leading market share
- Graph 47: % share of the fashion accessories market of a selection of leading brands within the cohort, 2022-24
- Luxury consolidation
- Demand for accessories falls in line with key gifting periods
- Graph 48: monthly number of customers within jewellery and accessories, 2022-24
- Launch activity and innovation
- Longchamp taps into wellness with its “Energy by Longchamp” pop-up tour
- Brands invest in alternative materials
- Coach launches sub-brand Coachtopia
- Coachtopia taps into Gen Z values
- Selfridges and Matchesfashion strengthen their pre-loved offering
- Condiment couture becomes popular among accessories
- Advertising and marketing activity
- Adspend softer in the first half of 2024
- Graph 49: total above-the line, online display and direct mail advertising expenditure on fashion accessories, 2020-24
- Coach sees biggest uptick in adspend in 2023
- Miu Miu refreshes archival bags
- Accessory brands and retailers continue to invest
- Graph 50: total above-the line, online display and direct mail advertising expenditure on fashion accessories by media type, 2023
- Russell & Bromley’s latest campaign uses social media
Appendix
- Market forecast data and methodology
- Market size and forecast
- Market forecast and prediction intervals (value)
- Forecast methodology
- Report scope and definitions
- Market definition
- Abbreviations and terms
- Consumer research methodology
- Nielsen Ad Intel coverage
- Snoop SpendMapper methodology

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