Market Researh- Market Size

Decent Essays

Market research Market Size According to Keynote(2012) hand luggage and leather good market is expected to grow between 2012 and 2016.The chart below shows the estimated growth and decline of the market between 2007 and 2016. Market sector Clothing accessories are generally used for functional use. However many items are purchased for fashion and style purposes. This fact, according to Keynote Clothing Retailing Market report (2013), has brought a great development in the sector. The value of accessories sector touched £2.86bn in 2012. Furthermore, the important increase of the sector that has been evident in 2010 at 26.1% is believed to be a result of the consumers buying items in this sector as low-priced treats. “With consumers remaining cautious with regard to spending after the recession, this sector provided consumers with opportunities to treat themselves with generally cheap items; rather than buying new garments, accessories could be bought to bring an existing outfit up to date. Fashion trends have also started to focus on accessories much more than has previously been seen, with more items bought for fashion purposes rather than functionality.”(Keynote, 2013) Opportunities According to Keynote, androgyny is becoming a key fashion trend and the rise of the male handbag is generating an extensive consumer base for the handbags sector and brands can build new collections for this sector. Along with development of new technology products, like smarphones

Get Access