Abstract
Over the past two years, market value has grown strongly, largely due to the
phenomenal success of handbags. Celebrities and designers have been the major
influences in defining handbags as objects of desire.
Accessories have been the means to democratise luxury brands, providing a
relatively low-priced entry point to designer brands. Nowhere is this more
evident than in handbags. However, if consumers cannot afford a Fendi bag,
they will find a ‘Fendi-inspired’ bag on the high street.
Retailers are quick to translate the catwalk looks and own-brand accessories
have sold extremely well as a result.
‘Selective extravagance’ - the art of spending the bare minimum on
some accessories while splashing out on one expensive item (perhaps a designer
bag) is something many consumers swear by. This way they get the best of both
worlds.
Constraints to growth have been the seasonal nature of some accessories
(notably scarves and gloves) and emerging deflationary pressures from cheap
imports and fierce competition.
Every report of Mintel' s Market Intelligence series provides a thorough
analysis of the market, looking at:
- Market Drivers
- Market Size and Trends
- Market Segmentation
- The Supply Structure
- Advertising and Promotion
- Distribution
- The Consumer
- The Future
- Forecast
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