Sales of fashion accessories have experienced a noticeable uptick in the first ten months of 2018, marking a significant departure from trends seen in the previous couple of years. According to data released by the NPD Group, there has been a notable four percent increase in sales, with much of this growth attributed to the popularity of unique silhouettes in the market. This shift in consumer behavior clearly reflects evolving preferences and priorities among accessory enthusiasts.
The NPD Group’s report highlights the remarkable double-digit sales gains in categories such as backpacks, fanny/waist packs, and luggage. Conversely, traditional favorites like totes, shoppers, and messenger bags have witnessed a decline in sales. This change underlines a significant transformation in how consumers are choosing to accessorize. Interestingly, the resurgence of the fanny pack category has been particularly noteworthy, representing a mere one percent of overall fashion accessories sales but contributing to nearly a quarter of the industry’s overall growth.
Industry analyst Beth Goldstein of the NPD Group emphasizes how changing consumer behaviors, including an increasing emphasis on travel and convenience, are reshaping the accessory market landscape. Consequently, categories like luggage, backpacks, and fanny packs have increasingly become must-have items on consumers’ shopping lists and wish lists during the 2018 holiday season.
The expanding popularity of non-traditional accessory categories is not confined to specific regions. While major cities like New York, Los Angeles, and San Francisco are at the forefront of this trend, both smaller and larger markets across the US are also experiencing significant growth in backpacks and fanny/waist packs. No longer relegated to just back-to-school purchases, backpacks are now being used as everyday work bags. Both men and women are showing a keen interest in everyday backpacks, with fashion backpacks especially resonating with female consumers.
Furthermore, the increasing demand for fanny/waist packs is evident across various price points. While the premium segment certainly plays a major role, the mid-tier/value segment is also fueling growth among both men and women. Brands like Lo & Sons and Dagne Dover are successfully meeting consumer needs and preferences through innovative solutions. According to Goldstein, brands that can effectively address unmet needs are poised to emerge as leaders in the fashion accessories market.
For more information on the latest accessory trends, check out these helpful links:
Vogue: Fashion Accessories and Business of Fashion: Accessories.
