By  on April 25, 2018

The growing crop of utilitarian-infused fashion lines should serve as a beacon of hope for accessories companies. According research conducted by The NPD Group, delivering stylish – and functional – accessories will be key for brands to navigate the shrinking market. According to the firm, consumers remain interested in updating their luggage (think Supreme’s baggage that swarmed social feeds lately) or bags that strike a balance between usefulness and luxury.

“The move from acquisition and consumption to experiences, travel and healthier living is challenging the fashion accessories industry to remain relevant among competing spending opportunities vying for consumer dollars,” said Marshal Cohen, chief industry adviser for NPD. “Luxury items have managed to keep the industry alive, as consumers view these products as worthy of the investment, but fashion accessories manufacturers and retailers also need to look at how consumers live and address a broader spectrum of needs, desires and demographic life stages.”

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