Personal accessories in 2024: The big picture
2024 was a highly complex environment for consumption in Argentina, primarily due to the strong devaluation carried out by the newly elected government of Javier Milei, who assumed office in 2023. The devaluation, which exceeded 100%, contributed to an accumulated inflation rate of 211% in 2023, with inflation remaining significantly high through 2024.
2024 key trends
In response to the economic challenges of 2024, retailers and financial institutions introduced strong promotions and discounts. These discounts were often in collaboration with banks and virtual wallets, aiming to alleviate the impact of inflation on consumer spending.
Competitive landscape
In the context of consumption restrictions, high-end brands saw a stronger performance than other players during 2024. Consumers with high purchasing power remained largely unaffected by the economic challenges, although imported luxury goods were significantly more expensive in Argentina due to heavy taxes.
Retailing developments
The retail e-commerce channel remained the fastest-growing in 2024, bolstered by numerous offers, promotions, and attractive events encouraging consumers to purchase. In the writing instruments category, major hypermarket chains continued to grow, benefiting from competitive pricing and special offers during the back-to-school period.
What next for personal accessories?
The outlook for personal accessories in the forecast period will be closely tied to the country's economic situation. Although inflation is expected to decrease and salaries will gradually rise, the short-term prospects remain uncertain, as consumers have been significantly impacted by high inflation in 2024.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Accessories industry in Argentina 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.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Bags and Luggage
- Jewellery
- Watches
- Writing Instruments
If you're in the Personal Accessories industry in Argentina, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Personal Accessories in Argentina 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 Personal Accessories in Argentina?
- Which are the leading brands in Personal Accessories in Argentina?
- How significant is tourism in determining sales and demand for Personal Accessories in Argentina?
- How are COVID-19 and global recession impacting demand for Personal Accessories in Argentina?
- In the wake of COVID-19, how soon can Personal Accessories be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Personal Accessories in Argentina
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
Bags and Luggage in Argentina
KEY DATA FINDINGS
Luxury bags record positive retail volume growth, while all other areas post a decline
Stronger presence for international brands, while Longchamp enters and Louis Vuitton leaves
Prune leads handbags and crossbody bags, while Samsonite leads luggage in 2024
A stronger supply of imported products and new brands will shape the competitive landscape
Brands set to expand their product offerings to capture a wider audience and increase spend
Retail e-commerce is expected to grow as consumers are drawn to online sales
Jewellery in Argentina
KEY DATA FINDINGS
Retail volume decline for jewellery as rising inflation challenges sales
Men's brand Gogo aims to expand its presence and performance through franchises
Blue Star Group continues the expansion of its Isadora and Todo Moda brands
International players are expected to enter jewellery, impacting the competitive landscape
Retail e-commerce set to see continued and strong development over the forecast period
Independent designers will use Instagram to promote and showcase their costume jewellery designs
Traditional and Connected Watches in Argentina
KEY DATA FINDINGS
High watches continue to drive retail volume growth, while other areas decline
Brands focus on cutting-edge technology and new models to expand their offerings in connected and activity watches
Hublot launches three watch models while Rolex maintains its lead of the high watch category
Possibility of stronger growth for high watches if the tax on luxury goods is removed
Connected watches and activity trackers (digital) set to gain ground as the categories see continued development
Opportunity for retail e-commerce to increase sales in the basic watch and mid watch categories
Writing Instruments in Argentina
KEY DATA FINDINGS
Sales of writing instruments are concentrated during the back-to-school season
Colouring, markers and highlighters offer a wider array of various price points
Economy brands pique the interest of consumers in a challenging economic situation
Brands focus on consumption occasions outside of back-to-school, aiming to drive sales all year round
Promotions in hypermarkets and supermarkets are expected to support ongoing sales
Roller ball pens will increasingly challenge sales of fountain pens across the forecast period
The following categories and subcategories are included:
Personal Accessories
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- Backpacks
- Business Bags
- Crossbody Bags
- Duffel Bags
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- Non-Luxury Handbags
- Luxury Handbags
- Wallet and Coin Pouches
- Other Small Bags
- Luggage
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- Costume Jewellery
- Fine Jewellery
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- Basic Mechanical Watches
- Mid Mechanical Watches
- High Mechanical Watches
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- Basic Quartz Analogue Watches
- Mid Quartz Analogue Watches
- High Quartz Analogue Watches
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- Basic Quartz Digital Watches
- Mid Quartz Digital Watches
- High Quartz Digital Watches
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- Basic Quartz Analogue Watches
- Basic Quartz Digital Watches
- Basic Mechanical Watches
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- Mid Quartz Analogue Watches
- Mid Quartz Digital Watches
- Mid Mechanical Watches
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- High Quartz Analogue Watches
- High Quartz Digital Watches
- High Mechanical Watches
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- Basic Activity Watch (Analogue)
- Mid Activity Watch (Analogue)
- High Activity Watch (Analogue)
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- Basic Activity Watch (Digital)
- Mid Activity Watch (Digital)
- High Activity Watch (Digital)
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- Basic Smart Wearables
- Mid Smart Wearables
- High Smart Wearables
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- Colouring
- Markers and Highlighters
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- Graphite Pencils
- Mechanical Pencils
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- Ball Point Pens
- Fountain Pens
- Roller Ball Pens
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- Pen Inkwells and Refills
- Pencil Lead Refills
- Other Writing Accessories
Personal Accessories
Personal Accessories refers to a diversified group of personal products including Bags & Luggage, Jewellery, Watches and Writing instruments.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Personal Accessories research and analysis database.
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