The UK Accessories Market to 2027 report offers comprehensive insight and analysis of the UK Accessories market, the major players, the key trends, and consumer attitudes. It provides detailed analysis of the key trends shaping the market, market sizes and forecasts, and the performace of key retailers. The report also includes consumer data from 2023.
With the effects of high inflation set to leave a lasting impact on consumer spending habits, as shoppers continue to cut back on items they don’t need, growth in the UK accessories market will remain soft, with only a 3.9% rise expected in 2024. Though it will be partly protected by its higher share of luxury goods, as wealthy shoppers remain more resilient, it is suffering from the removal of tax-free shopping in the UK, with tourists diverting spend on designer accessories like handbags to other European shopping destinations.
The online UK accessories market is expected to have grown by just 2.3% in 2023, as pureplays such as ASOS and Boohoo witnessed a slowdown in demand as the shift back to stores continued.
With the effects of high inflation set to leave a lasting impact on consumer spending habits, as shoppers continue to cut back on items they don’t need, growth in the UK accessories market will remain soft, with only a 3.9% rise expected in 2024. Though it will be partly protected by its higher share of luxury goods, as wealthy shoppers remain more resilient, it is suffering from the removal of tax-free shopping in the UK, with tourists diverting spend on designer accessories like handbags to other European shopping destinations.
Scope
In 2023, the accessories market is expected to have grown by just 2.2%, as inflationary pressures led consumers to cut back on fashion spend due to higher prices and less discretionary income. However, the high presence of luxury goods within the sector allowed accessories to achieve slightly stronger growth than clothing and footwear.The online UK accessories market is expected to have grown by just 2.3% in 2023, as pureplays such as ASOS and Boohoo witnessed a slowdown in demand as the shift back to stores continued.
- Luxury players like Louis Vuitton and Chanel won market share in 2023 thanks to wealthy shoppers’ resilience amid economic challenges , while value players like Primark are also supported by consumers' trading down
Reasons to Buy
- Understand where the demand lies within the UK Accessories market across various price positionings, categories, and retailers, to allow you to maximise customer acquisition.
- Learn how continued inflationary challenges will impact the UK Accessories market, and which players are most at threat from changing consumer habits.
- Identify the key approaches retailers are taking to stand out in the UK Accessories market, and how you can adapt these to fit your own business.
Table of Contents
- EXECUTIVE SUMMARY
- KEY TRENDS IN THE UK ACCESSORIES MARKET
- UK Accessories Market Drivers
- UK Accessories Market Inhibitors
- Key Trends
- The accessories resale market goes from strength to strength
- Exclusive collections and experiences help department stores stay competitive
- Collaborations have become key to generating buzz and expanding appeal
- Strategies for Success in the UK Accessories Market
- THE UK ACCESSORIES MARKET: MARKET SIZE TO 2027
- UK Accessories Market, 2017-2027
- UK Apparel Market by Category Share 2017-2027
- THE UK ACCESSORIES MARKET: WHERE PEOPLE SHOP
- UK Accessories Online Market, 2017-2027
- UK Accessories Channel Usage
- UK Accessories Instore Location Preferences
- UK Accessories Online Fulfilment Preferences
- UK Accessories Market by Channel 2017-2027
- Top 10 UK Accessories Retailer Market Shares
- UK Accessories Winners & Losers Outlooks
- UK Retailers Most Shopped At For Accessories
- Top 10 UK Accessories Retailer Competitor Overlaps
- Retailer Profiles
- Accessorize
- Ted Baker
- Burberry
- Uniqlo
- Oliver Bonas & Claire's Accessories
- Retailers to Watch
- THE UK ACCESSORIES MARKET: HOW & WHY PEOPLE SHOP
- Who Shops and Where They Are Located
- Accessories Items Purchased
- Frequency of Shopping
- What’s Important When Purchasing Accessories
- Secondhand Accessories Purchases
- Secondhand Accessories Channel Preferences
- Secondhand Stores and Online Platforms Used
- Secondhand Brands Purchased
- Secondhand Accessories Purchase Drivers
- METHODOLOGY, DEFINITIONS AND CONTACTS
- Competitor Shopper Overlaps of Top 10 UK Accessories Retailers
- Accessories Items Purchased by Demographic
- Frequency of Shopping by Demographic
- What’s Important When Purchasing Accessories by Demographic
- Secondhand Accessories Channel Preferences
- UK Accessories Market Value 2017, 2023, 2027 (£ bn) with Five-Year CAGR (%)
- UK Accessories Market Value (£ bn) 2017-2027, Annual Growth (%) and Spend Per Head (£)
- UK Apparel Market by Category Share (%), 2017, 2023 & 2027
- UK Accessories Online Market Size (£ bn) and Online Penetration (%), 2017-2027
- UK Accessories Channel Usage
- Instore Locations Used to Purchase Accessories
- Fulfilment Methods Used When Purchasing Accessories Online
- UK Accessories Channel Shares (%), 2017, 2023(f) and 2027(f)
- Market Shares (%) of the Top 10 UK Accessories Retailers 2022 & 2023(f)
- Top Retailers Accessories Shoppers Visited and Purchased Accessories From
- Where else Accessorize's Accessories shoppers shop
- Accessorize’s Accessories shopper penetration by demographic
- Accessorize’s 2018-2023 UK Accessories market share (%)
- Where else Ted Baker's Accessories shoppers shop
- Ted Baker's Accessories shopper penetration by demographic
- Ted Baker's 2018-2023 UK Accessories market share (%)
- Where else Burberry’s Accessories shoppers shop
- Burberry’s Accessories shopper penetration by demographic
- Burberry’s 2018-2023 UK Accessories market share (%)
- Where else Uniqlo’s Accessories shoppers shop
- Uniqlo’s Accessories shopper penetration by demographic
- Uniqlo’s 2018-2023 UK Accessories market share (%)
- Consumers That Shop for Accessories by Demographic
- Consumers That Shop for Accessories by Region
- Profile of Accessories Shoppers
- Accessories Categories Purchased
- Frequency of Shopping
- What’s Important to Consumers When Purchasing Accessories
- Consumers That Purchased Secondhand Accessories in the Last 12 Months and Would Consider Purchasing it in the Future, by Demographic
- Top Physical Stores Consumers Have Purchased Secondhand Accessories From
- Top Online Platforms Consumers Have Purchased Secondhand Accessories From
- Types of Brands Consumers have Purchased Secondhand Accessories From
- Brands Consumers Have Purchased Secondhand Accessories From
- Why Consumers Purchased Secondhand Accessories
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Accessorize
- Adidas
- Amazon
- Anya Hindmarch
- ASDA
- ASOS
- Bershka
- Bulgari
- Burberry
- Chanel
- Claire's Accessories
- Cocoon
- Dior
- Ebay
- Fendi
- Givenchy
- Gucci
- H&M
- Harrods
- Hey Harper
- John Lewis & Partners
- Loewe
- Longchamp
- Louis Vuitton
- Marks & Spencer
- Marni
- Matalan
- Mulberry
- New Look
- Next
- Oliver Bonas
- Peter Jones
- Polène
- Prada
- Primark
- Rains
- Rebelle
- Sainsbury's
- Selfridges
- Shein
- Skims
- Stubble & Co
- Supreme
- Swarovski
- Ted Baker
- Tesco
- Tiffany & Co
- Timex
- TK Maxx
- Uniqlo
- Urban Outfitters
- Valentino
- Versace
- Vestiaire Collective
- Weinsato
- Zara
