The Accessories Segment in China registered Sales value of USD 47,487.47 million in 2023
The indicator recorded a historical growth (CAGR) of 5.35% between 2020 to 2023, and is expected to grow by...
GlobalData projects the indicator to grow ...
The Accessories market in China has shown a positive and increase in market value year after year. It holds a significant position of market share in China Accessories market.
Accessories market category
Belts, Fashion Jewelry, Gloves, Hair Accessories, Handbags, Hats, other Accessories and Scarves were among the major product categories in the year 2019. By 2024 it is projected to increase in the product category by adding Sunglasses and Ties and holding a strong market share.
Handbags and Fashion Jewelry are the leading products in terms of percentage sales.
Accessories Brands
The Leading Accessories brands in China Market are:
Popularity of premium accessories in global apparel market
Accessories will be the fastest-growing category in the premium apparel market between 2019 and 2025. This is due to shoppers' increased preference for higher quality pieces that will last for longer, and since accessories tend to be more versatile and can be worn with multiple different outfits, it reduces the cost per wear, so consumers are more willing to invest
Handbags are expected to experience the strongest growth within accessories over the next five years to 2025, with the longevity of these items meaning that shoppers are more willing to pay higher premium price points.
Market Analysis
The COVID-19 pandemic has had severe consequences for the Chinese apparel retail market. China was the first country to feel the effects of the pandemic and the government responded with strict lockdown measures after the first recorded case of the virus. These measures have been in place in varying degrees throughout the year, disrupting the economy and business activity. Apparel retail has been one of the hardest hit retail sectors by the pandemic, with the demand for new clothing being greatly reduced as consumers spend more time at home. Economic growth also slowed in 2019 to 2020, which is likely to have constrained consumer spending somewhat due to greater financial uncertainty.
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