The accessories segment is one of the popular product categories in the retail industry. Accessories encompass various categories including shoes, bags, watches, and jewelry. Accessories constitute the most essential category in the fashion industry.
The UK is among the countries that are popular for fashion. Britain’s fashion industry is widely influenced by films, historical culture, and television.
The accessories segment in the UK reached $5 billion in 2021, growing 42% over that in the previous year, following the growth in the retail product categories owing to a recovery in demand in the post-COVID-19 pandemic period. Sales in brick-and-mortar stores and online stores improved as businesses resumed operations after being under restrictions for almost two years. Consumers also started spending more on lifestyle products.
The accessories segment in the country recorded negative growth of 4% during 2017–2021. The decrease could be due to the outbreak of the COVID-19 pandemic, which led to a reduction in spending on luxury products, resulting in a fall in the accessories segment.
The major accessories companies which have a strong presence in the fashion industry in the UK include Marks & Spencer, JD Sports, and Next. A variety of brands such as Ted Baker, Radley, and Aspinal of London also exert influence on Britain’s accessories industry.
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