PROSPECTS AND OPPORTUNITIES
Stagnation in apparel accessories, driven by casualisation of fashion trends
Demand for apparel accessories in Singapore is expected to remain relatively flat throughout the forecast period. In particular, retail volume sales of ties are anticipated to continue their decline, primarily driven by the ongoing trend towards casualisation.
Social media and social commerce will continue to influence demand
Social media platforms like TikTok have become a significant force in driving sales of apparel accessories, and this influence is likely to continue over the forecast period. The platform's engaging and visual format allows users to discover and imitate styling ideas, creating an interactive shopping experience.
Brands will increasingly move online
The growing shift towards e-commerce has significantly boosted sales in the apparel accessories market, and this trend is set to continue into the forecast period. The nature of apparel accessories, which are typically low-cost and easy to purchase without the need for fitting or sizing, makes them particularly well-suited for online shopping.
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Overview:
Understand the latest market trends and future growth opportunities for the Apparel Accessories industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Apparel Accessories industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Apparel Accessories in Singapore report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Apparel Accessories in Singapore?
- Which are the leading brands in Singapore?
- How are products distributed in Singapore?
- How is the rise of e-commerce shaping demand?
- What % of apparel and footwear sales are made via grocery retailers?
- Do consumers want premium quality or fast fashion?
- How will COVID-19 and recession impact demand?
- How important is sustainability in Apparel Accessories in Singapore?
- Where is future growth expected to be most dynamic?
Apparel Accessories in Singapore - Category analysis
KEY DATA FINDINGS
Accessories play a complementary role in the fashion landscape
Decline in demand for face masks impacts overall sales
Luxury brands remain dominant
Stagnation in apparel accessories, driven by casualisation of fashion trends
Social media and social commerce will continue to influence demand
Brands will increasingly move online
Apparel and Footwear in Singapore - Industry Overview
Apparel and footwear in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for apparel and footwear?
DISCLAIMER
The following categories and subcategories are included:
Apparel Accessories
- Belts
- Gloves
- Hats/Caps
- Scarves
- Ties
- Other Apparel Accessories
Apparel Accessories
Supplementary garments and clothing articles consisting of items as belts, scarves, gloves, hats, ties and other accessories. Knitted accessories (hats, scarves and gloves) are also included. Includes all such products designed for men, women, children, and infants. Shoes, bags and sunglasses are excluded and attributed to Footwear, Travel Goods and Sunglasses respectively.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Apparel Accessories research and analysis database.
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