PROSPECTS AND OPPORTUNITIES
Market polarisation will continue to shape demand
Although the average unit price of apparel accessories in the UK has continued to rise in 2024, the influence of external factors that continue to drive up costs is expected to ease. However, the impacts of consumer spending habits and market polarisation will likely continue into the forecast period, as consumers will remain aware of their economic positioning and apprehensive about non-essential spending.
Innovation will prove challenging
Innovation within apparel accessories in the UK remained challenging in 2024, as such design development is fairly limited within key product categories. Therefore, innovation could be driven by textile development and increased sourcing responsibility to appeal to conscious consumers.
Increasing engagement in the second-hand market and social commerce
As the growing impact of the second-hand market on apparel accessories in the UK continues to be felt, retailers should continue to focus their investment on developing their own second-hand and resale platforms to capitalise on the secondary market. This may help offset the impact of lower sales thresholds on the primary market due to resale prospects.
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Overview:
Understand the latest market trends and future growth opportunities for the Apparel Accessories industry in United Kingdom 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 United Kingdom, 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 United Kingdom 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 United Kingdom?
- Which are the leading brands in United Kingdom?
- How are products distributed in United Kingdom?
- 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 United Kingdom?
- Where is future growth expected to be most dynamic?
Apparel Accessories in the United Kingdom - Category analysis
KEY DATA FINDINGS
Rising unit prices and lower discretionary spending thresholds
Increasing impact of second-hand sales
Nike retains slim leadership of competitive landscape
Market polarisation will continue to shape demand
Innovation will prove challenging
Increasing engagement in the second-hand market and social commerce
Apparel and Footwear in the United Kingdom - 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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