Personal accessories in 2024: The big picture
In 2024, Spain’s personal accessories market faced significant challenges due to worsening economic conditions. With the prices of basic goods rising and interest rates increasing, the disposable income of the average Spaniard declined.
2024 key trends
Social media played an increasingly influential role in shaping sales and trends across the personal accessories market. Platforms like TikTok and Instagram became trendsetters, determining which brands and products gained traction.
Competitive landscape
The competitive landscape in 2024 saw a notable shift compared to previous years. During the review period, sales had polarised, with both luxury and private label ranges thriving.
Retailing developments
In a challenging economic and social environment, Spanish consumers became increasingly focused on finding the best value for money. This shift led to a resurgence of outdoor markets - a retail channel that had been largely overlooked in recent years.
What next for personal accessories?
The economic distress experienced in recent years is expected to persist, much as anticipated in earlier forecasts. High inflation rates, elevated energy costs and rising interest rates are set to continue constraining Spanish disposable incomes.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Accessories industry in Spain 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 Spain, 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 Spain 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 Spain?
- Which are the leading brands in Personal Accessories in Spain?
- How significant is tourism in determining sales and demand for Personal Accessories in Spain?
- How are COVID-19 and global recession impacting demand for Personal Accessories in Spain?
- 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 Spain
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
Bags and Luggage in Spain
KEY DATA FINDINGS
Reduced purchasing power slows growth in 2024
LVMH continues to lead, while luxury brands lose ground to mid-priced alternatives
Shifting luggage trends and the rise of sustainable luxury
Evolving consumer priorities and economic challenges will hamper growth in forecast period
Outdoor markets to keep gaining ground as backpacks benefit from healthy living trends
New European luggage regulations and sustainability concerns to shape progress
Jewellery in Spain
KEY DATA FINDINGS
Spanish economy and soaring gold prices see category shifts.
Lab-grown diamonds fail to take root, while Joyería Tous strengthens position
Social media continues to drive sales amid rising consumer cost-consciousness
Growth to remain limited throughout forecast period
Social media will remain key sales driver
Spaniards to remain focused on best-value offers
Traditional and Connected Watches in Spain
KEY DATA FINDINGS
Economic and social factors drive sales in 2024
Swatch Group stays ahead of companies
Fashion trends impact trends in watches
High-end watches set to lose attraction as investment
Demand for sustainable options tempered by price sensitivity
Blurring lines between tradition and technology
Writing Instruments in Spain
KEY DATA FINDINGS
Value sales remain stable in the face of several obstacles to growth
TikTok as major sales shaper for writing instruments
Price thresholds determine pace of growth
Spain’s declining birth rate will curb growth potential
From sustainability to social responsibility
Back to basics
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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