Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Accessories market to beat the recession test

The accessories market grew by 7% in 2007, and the sector is set to benefit from insulation against a squeeze in consumer spending next year, according to research firm Mintel.

The accessories market grew to more than £1 billion last year, mostly driven by women’s handbags. Women’s accessories accounted for 70% of total accessories sales in 2007.
Mintel expects the market to have expanded by a further 8% in 2008, as accessories represent a guilt-free purchase – they are cheaper than clothing and can update an existing look.

But Mintel warned that increased accessories offers at clothing retailers’ have put pressure on accessories specialists.

Senior fashion analyst Katrin Magnussen said: “Since 2005, both Claire’s and Accessorize have seen a decline in their percentage of customers.”

Mintel said Marks & Spencer is the leading player in fashion accessories, with the number of adults buying M&S accessories increasing by eight percentage points since 2004.
But Mintel added that M&S’s reign is under threat from Primark and the supermarkets.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.