Mixed bag: Operators across the industry spectrum have fared differently over the past five years

The Personal Accessory Retailing industry's performance has been mixed over the past five years. Luxury products have performed well, driven by premiumisation and consumer demand for unique branded merchandise. However, the mid-priced product market has suffered due to a softer retail environment and mounting competition from department stores and online shopping. The poor performance of smaller retailers selling more affordable industry goods has offset a significant amount of the revenue growth of luxury product retailers. However, the increasing volume of online sales generated through the internet sites owned by the industry's bricks-and-mortar operators has aided industry revenue growth. Industry revenue is expected to grow at an annualised 3.1%...read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 13-18
3.1%
Forecast Growth 18-23
Profit
Employment
6,387
Businesses
1,761

Industry Threats & Opportunities

  • While luxury products have performed well, the mid-priced product market has suffered
  • Fashion forward brands are expected to have performed well over the past five years
  • The forecast rise in the Australian dollar will make internationally sourced products more affordable
  • Industry Report - Industry SWOT Analysis Chapter

    The industry is in the mature phase of its life cycle. Over the 10 years through 2022-23, industry value added, which measures an industry's contribution to the overall economy, is forecast to increase at an annualised 1.8% compared with annualised growth of 2.5% in Australian GDP. As a result, the industry is expected to underperform the wider economy over the same period. The weak growth in industry value added relative to the overall economy is characteristic of a mature industry. This is further supported by increasing competition across the industry and a slowdown in product innovation.With regard to product range, the majority of stores stock similar products such as handbags, luggage and umbrellas. As a result, product differentiation among players is limited. Tho...purchase to read more.

    Additional Insights for the Personal Accessory Retailing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Personal Accessory Retailing Industry are

  • Ensuring pricing policy is appropriate
  • Having a clear market position
  • Production of goods currently favoured by the market
  • IBISWorld analysts also discuss how external factors such as Consumer sentiment index and Real household discretionary income in the Personal Accessory Retailing industry impact industry performance..

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    What's in this report

    What is the Personal Accessory Retailing Industry?

    Industry operators primarily retail a range of personal accessories including briefcases, handbags, luggage, sunglasses, umbrellas and wigs. These products are sold by retailers through stores or online to consumers. The industry excludes the retail sale of leather clothing and footwear. Online-only retailers are also excluded from the industry.

    Industry Products
  • Handbags, wallets and purses
  • Luggage and other travel goods
  • Sunglasses
  • Other personal accessories
  • Industry Activities
  • Briefcase retailing
  • Handbag retailing
  • Luggage retailing
  • Sunglasses retailing
  • Umbrella retailing
  • Wig retailing
  • Leather goods retailing (except clothing and footwear)
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer sentiment index
  • Real household discretionary income
  • Demand from department stores
  • Demand from online shopping
  • Trade-weighted index

  • Current Performance
  • Weak retail market
  • Demand trends
  • Competition and profit
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Operating landscape
  • Demand trends
  • Profit and competition
  • Store count and staff
  • Table: Personal Accessory Retailing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Personal Accessory Retailing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Cut and Sewn Textile Product Manufacturing
  • Leather and Leather Substitute Product Manufacturing
  • Photographic and Optical Goods Manufacturing
  • Textile Product Wholesaling

  • Products & Services
  • Handbags, wallets and purses
  • Sunglasses
  • Luggage and other travel goods
  • Other personal accessories
  • Chart: Personal Accessory Retailing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged 35 to 54
  • People aged 15 to 34
  • People aged 55 and over
  • Corporate or business clients
  • Chart: Major Market Segmentation for the Personal Accessory Retailing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Personal Accessory Retailing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Personal Accessory Retailing Industry

  • Industry Globalization
    Strandbags Group Pty Limited, Luxottica South Pacific Holdings Pty Ltd, Louis Vuitton Australia Pty Ltd, CBCH Group Pty Ltd, Woolworths International (Australia) Pty Limited,
  • Table: Strandbags Group Pty Limited - financial performance
  • Table: Luxottica South Pacific Holdings Pty Ltd - financial performance
  • Table: Louis Vuitton Australia Pty Ltd - financial performance
  • Table: CBCH Group Pty Ltd - financial performance
  • Table: Woolworths International (Australia) Pty Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Personal Accessory Retailing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Personal Accessory Retailing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Bricks-And-Mortar
  • A store that has a physical store location, as opposed to an online retailer that operates through a website.
  • Ecommerce
  • The sale and purchase of goods transacted through the internet.
  • Point Of Sale (Pos)
  • The actual place where goods are sold and purchased, as opposed to the place of manufacture, packing or labelling.
  • What Our Customers Say

    Why buy this report?

    The Personal Accessory Retailing market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Personal Accessory Retailing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Personal Accessory Retailing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Personal Accessory Retailing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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