The Brits love bags, as men’s leather goods speed up in England (+16%). Footwear slows down though


In the United Kingdom, men’s bags are outdoing the other fashion accessories, in terms of increased sales. At the beginning of the latest London Fashion Week Men’s (on January 6-8), Mintel, a marketing research company, made public a social survey on the fashion accessories business, whose estimated turnover, in the UK, amounts to £2,9 billion (3,29 billion euros), in the period from November 2016 to October 2017 (+3,6%). Over the last five years, fashion accessories sales went up by 21%. Half of the incomes (£2,9 billion) come from women’s bags, though men’s product lines are remarkably increasing in sales (+16%). According to the survey, 24% of British males, aged 16 to 34, purchased a “man bag” in 2017. On the whole, 52% of fashion accessories buyers supposedly do their shopping online, and Millennials (aged 18 to 37) represent 59% of such clientele. Another interesting point is that 40% of fashion accessories buyers would be ready to pay more for “made in Britain” products. According to Mintel, the fashion accessories business is expanding thanks to affordable luxury and mid-end items: “It is easier to sell smaller and cheaper bags, from mid-end brands, rather than from luxury trademarks. Millennials are the most important fashion accessories buyers, therefore fashion brands have to focus their appeal on this new growing class of customers”. In contrast, footwear is slowing down. Due to bad weather conditions, footwear sales have decreased in the UK. According to the BDO High Street Sales Tracker index, sales dropped by 6,5%, on annual basis, before February 11; they eventually went down by 7,3%, over the week ended on February 11, owing to snow and bad weather conditions.


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