THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Insight: sales of fashion accessories down in 2017

New figures have revealed that the share of UK clothing shoppers that purchased accessories fell from 50.6% in 2016 to 40.9% in 2017.

FASHION

Insight: sales of fashion accessories down in 2017

New figures have revealed that the share of UK clothing shoppers that purchased accessories fell from 50.6% in 2016 to 40.9% in 2017.

According to the figures from GlobalData, this equates to four million fewer consumers and £390 million in lost revenue.

The company’s latest report, ‘The UK Accessories Market 2017-2022’, shows that this is based on an average annual spend per head of £98, and led to a volume decline of 0.8% in 2017 compared to a flat performance in 2016.

Honor Strachan, principal retail analyst at Global Data, said: “Replacement purchases are now the main trigger of purchasing accessories among domestic shoppers, compared to consumers spending to treat themselves. This puts huge pressure on retailers to encourage trading up, or to diversify to make up for absent sales.”

GlobalData said consumers will extend replacement cycles during periods of restrained discretionary spending.

Strachan added: “While the premium and luxury segments of the UK fashion accessories market bask in the attention of high-spending overseas visitors, the mass market players are suffering from a major drop in domestic consumer willingness.”

The data was amassed from a survey of 5,000 UK shoppers.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process