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Handbags - UK - January 2015

Published By :

Mintel

Published Date : Jan 2015

Category :

Handbags

No. of Pages : 97 Pages

There is real growth potential for the men’s accessories market as younger generations of men have become accustomed to using manbags, with 20% of 18-24s carrying one with them most of the time.

Introduction

Definition
Abbreviations

Executive Summary

The market
Figure 1: Best- and worst-case forecast of UK value sales of handbags, 2009-19
Market factors
Declining youth population will impact sales
Deflation in the price of fashion accessories
Mobile device ownership affects pocket sizes
Companies, brands and innovation
Brand research
Figure 2: Attitudes towards and usage of selected brands, December 2014
The consumer
Handbags most desirable fashion accessory
Figure 3: Women’s quarterly spending habits on fashion items, December 2014
Young women keenest handbag buyers
Figure 4: Types of handbags/manbags purchased in the last 12 months, October 2014
Average spend on a handbag is £76
Figure 5: Average amount spent on the last handbag/manbag, by gender and age, October 2014
A third buy handbags from value retailers
Figure 6: Retailers from which handbags have been bought in-store or online in the last 12 months, October 2014
Size is most important
Figure 7: Most important factors when buying a handbag, ranked as 1, October 2014
Half of women like to see before buying
Figure 8: Attitudes towards shopping for handbags, October 2014
20% of young men use manbag all the time
Figure 9: Attitudes towards buying handbags/manbags, October 2014
What we think

Issues and Insights

How has the handbag market performed over the last year?
The facts
The implications
Which retailers and brands stand out in the sector?
The facts
The implications
How can the sector drive sales of handbags?
The facts
The implications

Trend Application

Trend: Make it Mine
Trend: Many Mes
Mintel Futures: Access Anything Anywhere

The Market Environment

Key points
Market will feel impact of decline in 15-24s
Figure 10: Trends in the age structure of the UK population, 2009-19
Unemployment rate declining in the UK
Figure 11: Unemployment rate in the UK, 2008-14
Consumers spending less on personal items
Figure 12: What extra money is spent on, 2013 and 2014
Deflation in the price of accessories
Figure 13: Consumer prices inflation: accessories and clothing, October 2013-October 2014
Mobile device ownership affects pocket sizes

Strengths and Weaknesses

Strengths
Weaknesses

Who’s Innovating?

Key points
Marketing and social media initiatives
Figure 14: Neiman Marcus’ Snap Find Shop app
Department stores investing in accessories
Retailers expand into accessories
New launches
New store concepts
Wearable technology
Figure 15: The Marylebone Tech handbag, from Aspinal of London
Pop-up shops
Figure 16: Eastpak’s Shoreditch pop-up shop
Made in the UK
Expanding into manbags

Market Size and Forecast

Key points
Handbag market grows 9% in 2014
Figure 17: Best- and worst-case forecast of UK value sales of handbags, 2009-19
Handbag sales to rise 52% by 2019
Figure 18: Value sales of handbags, at constant prices, 2009-19
Growth potential for manbag market
Factors used in the forecast

Companies and Products

Mulberry
Company overview
Financials
Figure 19: Key financials of Mulberry, 2013 and 2014
Retail offering and brand positioning
International
Recent developments
Advertising and marketing
Radley
Company overview
Financials
Figure 20: Key financials for Radley & Co, 2013 and 2014
Retail offering and brand positioning
International
Recent developments and marketing
Burberry
Company overview
Financials
Figure 21: Key financials of Burberry, 2013 and 2014
Retail offering and brand positioning
International
Recent developments and marketing
Michael Kors
Company overview
Financials
Figure 22: Key financials of Michael Kors, 2013 and 2014
Retail offering and brand positioning
International
Recent developments and marketing
LVMH (Louis Vuitton)
Company overview
Financials
Figure 23: Key financials of LVMH, 2012 and 2013
Retail offering and brand positioning
International
Recent developments and marketing

Brand Communication and Promotion

Key points
Advertising expenditure increases
Figure 24: Main monitored media advertising expenditure on handbags and leather goods, 2010-14
Designers dominate handbag adspend
Figure 25: Main monitored media advertising expenditure on handbags and leather goods, by advertiser, 2010-14
Designer advertising campaigns
High street stores

Brand Research

Brand map
Figure 26: Attitudes towards and usage of selected brands, December 2014
Correspondence analysis
Brand attitudes
Figure 27: Attitudes, by brand, December 2014
Brand personality
Figure 28: Brand personality – Macro image, December 2014
Figure 29: Brand personality – Micro image, December 2014
Brand experience
Figure 30: Selected brand usage, December 2014
Figure 31: Satisfaction with selected brands, December 2014
Figure 32: Consideration of selected brands, December 2014
Figure 33: Consumer perceptions of current brand performance, December 2014
Brand recommendation
Figure 34: Recommendation of selected brands, December 2014

The Consumer – What Fashion Items Extra Money is Spent On

Key points
Handbags most desirable fashion accessory
Figure 35: Women’s quarterly spending habits on fashion items, December 2014
Handbag purchasing drops
Figure 36: Quarterly spending habits on handbags, December 2013-December 2014
Fall in purchasing levels among young

The Consumer – Types of Handbags Purchased

Key points
What we asked
60% of women bought a new handbag in the last year
Figure 37: Types of handbags/manbags purchased in the last 12 months, October 2014
Young women keenest handbag buyers
10% of men bought a manbag
A fifth of men bought a handbag as a gift item
Medium handbags most popular
Large bags favoured by under-35s
Youngest also favour small bags
Regional differences

The Consumer – Amount Spent on Handbags

Key points
What we asked
Average spend on a handbag is £76
Figure 38: Average amount spent on the last handbag/manbag, October 2014
Under-35s are highest spenders
Figure 39: Average amount spent on the last handbag/manbag, by gender and age, October 2014
Women tend to buy several bags per year

The Consumer – Where Handbags are Bought

Key points
What we asked
Figure 40: Retailers from which handbags have been bought in-store or online in the last 12 months, October 2014
A third buy handbags from value retailers
Under-35s buy from clothing retailers
High-end clothing retailers
Department store shoppers peak among 25-44s
Figure 41: Retailers from which handbags have been bought in-store or online in the last 12 months, by age, October 2014
Specialists and designer brands draw affluent ABs
Half buy online
Figure 42: Profile of consumers who have purchased handbags/manbags from Amazon and eBay, by age group, October 2014
Under-35s buy from footwear retailers

The Consumer – Most Important Factors When Buying a Handbag

Key points
What we asked
Figure 43: Most important factors when buying a handbag, ranked as number 1, October 2014
Size is most important
Handbag design
Fashionable bags
Older women look for secure bags
Young most brand-focused
Single women want multipurpose bags

The Consumer – Women’s Attitudes towards Shopping for Handbags

Key points
What we asked
Figure 44: Attitudes towards shopping for handbags, October 2014
Half of women like to see before buying
Over-45s treat themselves
Gifting
A third buy handbags on sale
Young least interested in leather
Designer handbag buyers
Handbags for special occasions
Innovative bags
Customisable bags

The Consumer – Men’s Attitudes towards Buying Manbags/Handbags

Key points
What we asked
Nearly 20% of young men use a manbag all the time
Figure 45: Attitudes towards buying handbags/manbags, October 2014
Men favour designer manbags
Affluent look for leather manbags
One in eight under-35s gifted a manbag
Under-25s keen on innovation

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