Personal accessories in 2024: The big picture
In 2024, the consumer environment in South Africa proved challenging. Many shoppers prioritised essential goods over discretionary purchases.
2024 key trends
In 2024, Shein and Temu experienced significant growth in South Africa, prompting local retailers to urge the government to impose regulations on these international competitors, as they are perceived to be competing on an uneven playing field. For example, while local retailers have to pay duties and taxes when importing globally, Asian importers have been accused of taking advantage of taxation loopholes, which have excluded them from paying taxes, giving them an unfair pricing advantage.
Competitive landscape
Personal accessories in South Africa is a highly fragmented competitive landscape, with various players operating across multiple price points. These range from unbranded, inexpensive imports to luxury brands sold through multi-brand stores.
Retailing developments
While retail e-commerce was on the rise during 2024, brick-and-mortar stores remained the preferred channel, especially for watches, bags and luggage, where consumers often want to try or review products in person before purchasing. For fine jewellery, consumers prefer to visit stores where they receive a one-on-one personal service and advice on selecting the right products and sizes.
What next for personal accessories?
Retail volume growth is anticipated to be slower throughout the forecast period compared to 2024. This slowdown will partly be due to reduced consumer demand, as people cut back on spending for non-essential items in response to a challenging economic environment.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Accessories industry in South Africa 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 South Africa, 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 South Africa 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 South Africa?
- Which are the leading brands in Personal Accessories in South Africa?
- How significant is tourism in determining sales and demand for Personal Accessories in South Africa?
- How are COVID-19 and global recession impacting demand for Personal Accessories in South Africa?
- 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 South Africa
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
Bags and Luggage in South Africa
KEY DATA FINDINGS
The challenging consumer environment dampens growth in 2024
Low-cost imports from Shein and Temu offer consumers affordability and choice
Players focus on differentiation and premiumisation to drive sales
Low growth is expected as price point will continue to challenge sales in bags and luggage
Physical stores are set to remain the main channel of distribution
Sales of pre-loved items are set to grow, particularly for luxury goods
Jewellery in South Africa
KEY DATA FINDINGS
Tourism boosts the sales of fine jewellery brands in South Africa
Lab-grown diamonds gain popularity as consumers appreciate affordable options
Affordability drives consumers to choose smaller retailers for jewellery
Affordable alternatives are expected to gain ground across the forecast period
Shein and Temu are set to remain a growing challenge for local brands
South Africa is set to remain an established market for buying luxury jewellery
Traditional and Connected Watches in South Africa
KEY DATA FINDINGS
A rise in accessible luxury drives growth for traditional and connected watches
Pre-loved luxury watches gain traction among South African consumers
Connected watches gains ground, aligning with the rising health and wellness trend
Aspirational purchases and strong brand awareness will boost the allure of international brands
Second-hand luxury timepieces are set to remain popular over the forecast period
South Africa will remain an appealing market to launch and buy luxury brands
Writing Instruments in South Africa
KEY DATA FINDINGS
The essential nature of pens and pencils maintains growth for writing instruments
Affordability drives demand for writing instruments, as consumers buy during promotions
Unique and premium writing instruments attract affluent South African consumers
Personalised and premium offerings are expected to drive growth over the forecast period
Asian imports from Shein and Temu are set to attract younger consumers
Online stationery stores are set to gain ground by offering unique products
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?
- 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 Personal Accessories research and analysis database.
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