Personal accessories in 2024: The big picture
Across personal accessories in the UK, product innovation and messaging in 2024 are largely focused around providing experiences and value to consumers. As discretionary spending on non-essential categories continues to suffer, retail volume growth remains low as consumers further adapt to their current economic position.
2024 key trends
The current economic landscape in the UK is encouraging some consumers to trade down, although there is an increasing presence of polarisation within the local market across personal accessories. Although some categories, such as traditional watches and luxury handbags, remain investment purchases, the overall industry is experiencing the implications of lower thresholds of consumer spending, as reflected in the weak performances of many categories in 2024.
Competitive landscape
The competitive landscape of personal accessories in the UK remains relatively unchanged in 2024. Luxury conglomerates retain their leading positions in the market, despite feeling the overall impact of a luxury slowdown.
Retailing developments
Leisure and personal goods specialists remains the leading distribution channel for personal accessories in the UK. While the presence of e-commerce across various categories cannot be ignored following the initial surge in online sales during the pandemic, an ongoing return to in-store shopping, particularly specialists, remains relevant.
What next for personal accessories?
Over the forecast period, personal accessories in the UK will likely continue to see turbulent repercussions of shifts in consumer spending habits and purchasing drivers. Overall retail volume growth will be low, while value sales growth will largely be driven by further price increases rather than a surge in greater consumption.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal 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.
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 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 Personal 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 Personal Accessories in United Kingdom?
- Which are the leading brands in Personal Accessories in United Kingdom?
- How significant is tourism in determining sales and demand for Personal Accessories in United Kingdom?
- How are COVID-19 and global recession impacting demand for Personal Accessories in United Kingdom?
- 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 the United Kingdom
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
Bags and Luggage in the United Kingdom
KEY DATA FINDINGS
Versatility and durability are key purchasing drivers for bags and luggage
Fragmented competitive landscape led by luxury players
Resale market continues to hinder category sales
Travel is expected to continue to drive growth over the forecast period
Rising cost of business in the UK to persist
Distribution strategies to remain dynamic
Jewellery in the United Kingdom
KEY DATA FINDINGS
Cautious behaviour towards discretionary purchases impacts fine jewellery
Lab-grown diamond prospects fluctuate amid regulations and market fragmentation
Competitive landscape remains fragmented with no changes at the top
Costume jewellery will prosper through personalisation
G7 diamond sanctions reshape diamond traceability and supply chains
Generation Z drives social commerce and shifting consumer preferences
Traditional and Connected Watches in the United Kingdom
KEY DATA FINDINGS
Culture of collaboration favours increasing focus on value
Fluctuating performances for category players
Second-hand market and women’s watches redefine strategies
Investment and value will remain important for local consumers
Specialist retailers aim to expand footprint
Discretionary spending and investment purchases
Writing Instruments in the United Kingdom
KEY DATA FINDINGS
Despite some stability post-pandemic, writing instruments continues to thrive
Digitisation across local schools is rising challenge
Unchanged competitive landscape at the top, but smaller players make gains
Positive but weak volume growth for writing instruments over forecast period
Further impact of widescale digitalisation in education to be felt
Sustainability and innovation imperative in a stagnating environment
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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