$1.4bn
$XXX.Xm
6,219
695
$XXX.Xm
Companies in the Personal Accessory Retailing industry have faced a challenging trading climate. The luxury product segment has performed well, driven by premiumisation trends and consumer demand for unique branded merchandise. Yet, a depressed retail trading environment and mounting competition from department stores and online shopping have affected revenue across the mid-priced product market. The outbreak of COVID-19 in March 2020 hurt demand for personal accessories, with lockdown periods, trading restrictions and international travel bans all but eroding demand for luggage and handbags from downstream consumer markets. Logistical delays and supply chain disruptions linked to the pandemic also raised purchase costs for retailers and contributed to the slump in profitability. Overall, industry revenue has been falling at an annualised 0.6% over the past five years and is expected to total $1.4 billion in 2023-24, when revenue will dip by an estimated 0.8%.
Industry revenue has declined at a CAGR of 0.6 % over the past five years, to reach an estimated $1.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Strandbags | 400.0 | |
Louis Vuitton Australia | 220.0 | |
Luxottica | 147.6 |
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Industry revenue is measured across several distinct product and services lines, including Handbags, wallets and purses, Luggage and other travel goods and Sunglasses. Handbags, wallets and purses is the largest segment of the Personal Accessory Retailing in Australia.
Mobile banking apps have picked up steam, constraining demand for handbags, wallets and purses
Industry operators primarily retail a range of personal accessories including briefcases, handbags, luggage, sunglasses, umbrellas and wigs. These products are purchased from upstream manufacturers and wholesalers before being sold to downstream consumers markets or corporate and business clients. The industry includes sales across bricks and mortar stores and only the online operations of these stores.
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ANZSIC 4259 - Personal Accessory Retailing in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Personal accessory retailers have faced challenging trading conditions amid economic headwinds. Volatile consumer sentiment has squeezed consumer spending on personal accesso...
Learn about an industry's products and services, markets and trends in international trade.
Demand for handbags, wallets and purses fluctuates in line with discretionary income and consumer tastes. The increased use of mobile banking apps has driven down demand for ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Population demographics largely influence the location personal accessory retailers. That’s why New South Wales, Victoria and Queensland account for the majority of stores.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The importance of store layout and design in capturing consumer interest has grown as internal competition has sharpened. Industry retailers must embrace the latest technolog...
Learn about the performance of the top companies in the industry.
The Personal Accessories Retailing industry includes a variety of retailers that sell a range of products, from sunglasses to designer handbags. The industry's fragmented nat...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Personal Accessory retailers have enjoyed trade liberalisation policies undertaken by the Federal Government over the past decade. Lower tariffs have cut procurement costs fo...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profitability has been mixed. Luxury personal accessory retailers have fared better than companies catering to the more affordable middle market, as wealthy customers are les...
Including values and annual change:
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Key data sources in Australia include:
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These sources include:
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The market size of the Personal Accessory Retailing industry in Australia is $1.4bn in 2024.
There are 695 businesses in the Personal Accessory Retailing industry in Australia, which has grown at a CAGR of 2.0 % between 2019 and 2024.
The market size of the Personal Accessory Retailing industry in Australia has been declining at a CAGR of 0.6 % between 2019 and 2024.
Over the next five years, the Personal Accessory Retailing industry in Australia is expected to grow.
The biggest companies operating in the Personal Accessory Retailing market in Australia are Strandbags, Louis Vuitton Australia and Luxottica
Handbags, wallets and purses and Luggage and other travel goods are part of the Personal Accessory Retailing industry.
The company holding the most market share in Australia is Strandbags.
The level of competition is moderate and increasing in the Personal Accessory Retailing industry in Australia.