Industry Snapshot: Fashion Accents
By Caroline Kennedy -- Gifts & Decorative Accessories, 11/12/2007 12:57:00 PM
Within the gift industry, the category of fashion accessories is a relative newcomer, having gained wide acceptance as a separate product classification deserving of its own section within the past 10 years. Of course, that’s not to say that some fashion accessories hadn’t been a part of the gift mix prior to that; there has always been a sprinkling of fashion merchandise exhibited and sold (especially fashion jewelry). But the broadest range of personal accessories has belonged primarily to the apparel and accessories business.
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| Vera Bradley |
Several factors have contributed to the rise of fashion accents as a viable, profitable segment of the gift category:
- The retail landscape has changed, as independent retailers struggle for a share of market against the big boxes, mass merchandisers and national chains. Many regional department stores, which once gave smaller vendors an entrée to the fashion marketplace, have now been enfolded under the Federated umbrella of Macy’s.
- A shift to selling a “lifestyle” rather than a “look” or just a product has changed how both vendors and retailers approach their merchandise offerings. Forward-thinking retailers such as Anthropologie have demonstrated how well personal and home fashion can blend. Trend-forward home decor vendors such as 18 Karat are leading the way by introducing jewelry and personal care items that coordinate with home decor and gift collections.
- Young designers and companies recognized the gift channel as a way stand out from the crowded apparel and boutique channel. And established fashion accessories companies have recognized that the gift channel offers an opportunity to broaden their customer base and reach a whole new market.
ACCENT ON ACCENTS
Calypso Studios
Fashion jewelry — also called costume or bridge jewelry — has always held a toehold in the market because it fits neatly within even the narrowest definition of “gift,” and complements most gift stores’ merchandise. Today, it represents perhaps the largest segment of the accessories category, and comes in all price points and styles. Although somewhat subject to seasonal and stylistic changes, much costume jewelry is relatively season-less, and sells well year-round, making it an ideal addition to a gift retailer’s merchandise mix. Adding new jewelry pieces is an easy way for consumers to freshen up a wardrobe when their budget ia tight. Silver is a mainstay in the category; beaded pieces made with glass, ceramic, resin or semi-precious stones are the current fashion favorites, with the “bling” of crystals and rhinestones receding. Handcrafted artisan jewelry continues to offer uniquely styled pieces for the discerning customers.
Handbags, totes and soft luggage experienced a lot of growth over the past few years, but that growth has leveled off. In the earlier part of the growth period, we saw a number of high end leather bag designers enter to market and set a high bar for style. However, their price points were not a fit with the average gift merchandise mix, so many of those high end designers have since dropped out of the gift market. The low- to moderate-priced bag market continues strong, with stylishly designed, well appointed offerings. Perhaps the biggest growth area in this segment of the accessories category is in diaper/baby bags that look professional and fashionable — even gender-neutral — rather than screaming, “baby’s diaper bag!” One of the most important elements in any of today’s bags is organization.
Pajamas and Loungewear is a relatively small part of this category, but it’s seeing some growth, partly due to the “lifestyle” direction in merchandising, where bedding companies such as Dreamsacks and personal care manufacturers such as Lollia are adding intimate wear as a complement to their main lines. With its easy sizing that does not require a dressing room, this is a category that merchandises well with travel goods, personal care and spa accessories, as well as bedding and linens.
