Global Clothing Accessories Industry
The global clothing accessories industry is worth close to $16.5 billion, according to research from Packaged Facts. During the economic recession, many consumers opted to buy accessories instead of more expensive items of clothing. Spending patterns concerning accessories are slightly different than clothing purchases as accessories are often bought on impulse or as add-on purchases. The world clothing accessories market is expected to exceed $20 billion by 2012.
The global clothing accessories market is expected to see growth resume in the post recession period. Consumer confidence is recovering from the lows of the economic recession, with shoppers more willing to splash out on luxury and non-essential items. As consumers become increasingly conscious about the environment, demand for environmentally friendly luggage will rise.