Personal accessories in 2024: The big picture
Inflation and interest rates in Turkey remained high in 2024, negatively affecting consumer spending and demand for non-essential goods such as personal accessories. Due to the economic crisis in Turkey, price-sensitive consumers were increasingly drawn to more affordable personal accessories, whilst the affluent population and those less affected by the economic downturn continued to opt for luxury brands.
2024 key trends
Social and ecological issues are becoming increasingly important among local consumers, who are seeking to tackle climate change and fight for social equality. Given this trend, players are adopting measures to reduce climate impact including the use of renewable energy and renewable materials, or reusing offcuts to minimise textile waste.
Competitive landscape
LC Waikiki has rebranded its online platform lcwaikiki.com as a major marketplace under the brand LCW.
Retailing developments
A decision by the President led to changes in the Customs Law, with the new regulation published in the Official Gazette on August 6 2024. According to the new regulation, the individual shopping limit for overseas express cargo or postal items has been reduced from EUR150 euros to EUR30, and customs duties have been increased.
What next for personal accessories?
Personal accessories manufacturers in Turkey will invest significant sums of money in sustainability and traceability over the forecast period, implementing international standards, and adopting digitalisation in anticipation of higher consumer demand for eco-friendly products. At the factory level in Turkey, manufacturers have reduced emissions in recent years to address sustainability by installing solar and wind power to generate renewable energy and re-use water.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Accessories industry in Turkey 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 Turkey, 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 Turkey 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 Turkey?
- Which are the leading brands in Personal Accessories in Turkey?
- How significant is tourism in determining sales and demand for Personal Accessories in Turkey?
- How are COVID-19 and global recession impacting demand for Personal Accessories in Turkey?
- 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 Turkey
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
Bags and Luggage in Turkey
KEY DATA FINDINGS
Derimod invests heavily in retail e-commerce
Second-hand bags create some challenges for luxury brands
Demand for eco-conscious luggage and bags is rising
More investment in corporate social responsibility
Players are keen to target Generations Z and Alpha
Manufacturers will source raw materials locally
Jewellery in Turkey
KEY DATA FINDINGS
Economic conditions hamper jewelery sales
Jewellery continues to be dominated by domestic companies
Store-based retailers remain vital but e-commerce is now a key channel
Capsule collections expected to gain pace
Demand for lab-grown diamonds shows promise
Local designer brands are expected to gain traction
Traditional and Connected Watches in Turkey
KEY DATA FINDINGS
Luxury watches enjoy solid consumer demand
Rise in sales of second-hand watches
E-commerce is a key channel for watches
Greater focus on omni-channel strategies
Connected watches may suffer from shorter lifecycle
Second-hand sales platforms are expected to grow
Writing Instruments in Turkey
KEY DATA FINDINGS
Private label grows amid inflationary conditions
Digital writing instruments continue to hamper growth in writing instruments
Corporate gifting loses popularity
Shift from unbranded and counterfeit products towards branded products
Stronger focus on e-commerce channels over the forecast period
Supermarkets and hypermarkets shares will grow further
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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