Personal accessories are combination of various products designed to provide assistance to the consumer. Personal accessories are developed to enhance the dressing trends of the consumers along with other unique features. These personal accessories are available in different sizes and shapes and are also available in customization form as per the consumer requirements. Features of personal accessories such as easy handling, convenient, fashionable touch, and their basic uses has setup a trend among the end users which has gained huge traction in the past few years.
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There is an increase in the trend of fashion and accessories across the globe. The personal accessories vendors are adding innovations in their accessories to meet the requirement of the consumers. . The rise in disposable income of consumers creates demand for more luxury and unique personal accessories that are designed to suit every section and taste of the society ranging from modest rates to expensive ones. Having vast product versatility, personal accessories are now available in plethora of distribution channels ranging from independent retail store to online sale channels. Personal accessories such as watches, eyewear, bags, wallets, and other products like card holders and belts have also gained an increase in attention among the buyers as these products are also being designed in new shapes and patterns.
Easy availability of personal accessories in diversified platforms ranging from independent retail store to online sales channel result in expansion of the global personal accessories market. Moreover, increase in penetration of retail sales have augmented the growth of the personal accessories market. In parallel, availability of personal accessories on e-commerce platforms result in convenience to buy goods without any physical constraints to the consumers. Not only ease of convenience and comfort, e-commerce enables customers to deep dive for product information, prices, and benefits comparison and comprehensive value evaluation before committing purchase. Moreover, technology connected and smart personal accessories such as smart watches, gives more fashion driven approach to technology where design is as important as technology. This propels the popularity among consumers, which helps in market expansion for personal accessories. However, the presence of counterfeit products restricts the market growth for personal accessories market. . Counterfeit products are also available in the market which is making it difficult for the consumers to differentiate between original and counterfeit products, this factor negatively impacts the growth of the personal accessories market.
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The personal accessories market is segmented based on its product type, gender, distribution channel, and region. Based on its product type, it is further segmented into watches, bags, jewelry, wallet, eyewear, and others. Based on gender, it is further classified into men, women, and kids. Based on its distribution channel, it is segmented into independent retail store, brand store, specialty store, online sale channel, and hypermarket/supermarket. Based on its region, it further classified into North America, Europe, Asia-Pacific, and LAMEA.
Major key players profiled in this report are Giorgio Armani, Burberry Group plc, Prada Group, Fondation Hans Wilsdorf, Casio, The Swatch Group, Dolce & Gabbana, Ray Ban, and Luxottica Group SpA
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