PROSPECTS AND OPPORTUNITIES
Cultural shifts will lead to growing interest in decorative charms
The apparel accessories market in the Philippines is seeing a significant rise in demand for anik-aniks, or charms, inspired by popular trends from Korean and Japanese pop culture. These vibrant, eye-catching offerings have been embraced by a wide range of consumers.
Rise of travel will amplify demand for scarves and unusual apparel accessories
With the Philippines being known for its hot climate, scarves and similar accessories were once considered impractical for daily wear but are now seeing a rise in popularity. This trend is largely driven by international travel, especially as more Filipinos venture to destinations with cooler climates, where such accessories are viewed as both practical and stylish.
Consumers will become more fashion conscious, alongside rise of social media
The rise of social media has greatly influenced fashion trends, particularly among millennials in the Philippines, who are increasingly fashion-conscious.
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Overview:
Understand the latest market trends and future growth opportunities for the Apparel Accessories industry in Philippines 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 Philippines, 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 Philippines 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 Philippines?
- Which are the leading brands in Philippines?
- How are products distributed in Philippines?
- 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 Philippines?
- Where is future growth expected to be most dynamic?
Apparel Accessories in the Philippines - Category analysis
KEY DATA FINDINGS
Rise in corporate and special occasions drives growing demand for ties, while belts benefit from their affordability
Minimalist designs dominate in fashion accessories
SM Retail maintains its dominance
Cultural shifts will lead to growing interest in decorative charms
Rise of travel will amplify demand for scarves and unusual apparel accessories
Consumers will become more fashion conscious, alongside rise of social media
Apparel and Footwear in the Philippines - 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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