Consumers are following the mantra of the fashionistas and style gurus more closely than ever before. The fashion accessories market has grown by around 40% between 2002 and 2007 and shows no signs of slowing. The boost has generally been attributed to higher levels of personal disposable income, while the cult of celebrity also exerts a massive influence.
And while total retail sales have grown 20% the accessories market has out-performed all the other sectors in the clothing industry. According to Mintel consumer research, sales of women’s accessories alone grew by 68% during this period while men’s spending increased by 5%, highlighting a considerable variation across product ranges.