Personal Accessory Retailing in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: May 2024
ANZSIC G4259Revenue
$1.4bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
6,219
Businesses
695
Wages
$XXX.Xm
Personal Accessory Retailing in Australia industry analysis
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%.
Trends and Insights
- Personal accessory retailers have faced challenging trading conditions amid economic headwinds. Volatile consumer sentiment has squeezed consumer spending on personal accessories, with budget and mid-market retailers discounting products to generate consumer interest.
- 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 wallets and purses, especially among tech-savvy individuals.
- Population demographics largely influence the location personal accessory retailers. That’s why New South Wales, Victoria and Queensland account for the majority of stores.
- The importance of store layout and design in capturing consumer interest has grown as internal competition has sharpened. Industry retailers must embrace the latest technologies to elevate their marketing efforts as customers' lives become increasingly intertwined with the digital world.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.6 % over the past five years, to reach an estimated $1.4bn in 2024.
Trends and Insights
Growth in ecommerce has had a twofold effect on retailers
- Ecommerce has provided significant external competition for the industry, as consumers can search, compare and select personal accessory products across a range of online stores, including those based overseas.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Trading conditions are on track to boost demand for personal accessories
- Retail trading conditions for personal accessory retailers are set to improve over the coming years. An upswing in consumer sentiment, thanks to continued economic growth, higher average wages, and higher discretionary income will combine to boost the spending power of the downstream consumer market on personal accessories.
Biggest companies in the Personal Accessory Retailing in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Strandbags | 400.0 | |
Louis Vuitton Australia | 220.0 | |
Luxottica | 147.6 |
To view the market share and analysis for all 7 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
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.
Trends and Insights
Mobile banking apps have picked up steam, constraining demand for handbags, wallets and purses
- Coming in a range of sizes, styles and colours, demand for handbags, wallets and purses is largely driven by trends in real household discretionary income and individual consumer preferences. Sales ofs come up against increasing competition from external players like department stores, which stock a comparable range of goods at competitive prices.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Online Shopping in Australia
Complementors
- Clothing Retailing in Australia
- Footwear Retailing in Australia
- Furniture Retailing in Australia
International industries
- Handbag, Luggage & Accessory Stores in the US
- Luggage & Leather Goods Stores in the US
- Handbag, Luggage & Accessory Stores in Canada
- Clothing Retailing in the UK
- Luggage, Handbags & Harness Manufacturing in the UK
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Handbags, wallets and pursesLuggage and other travel goodsSunglassesUmbrellasWigsKey ringsCompanies
StrandbagsLouis Vuitton AustraliaLuxotticaPurchase this report to view all 7 major companies in this industry.
Related Terms
ECOMMERCEPOINT OF SALE (POS)BRICKS-AND-MORTARIndustry Code
ANZSIC 4259 - Personal Accessory Retailing in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Personal accessory retailers have faced challenging trading conditions amid economic headwinds. Volatile consumer sentiment has squeezed consumer spending on personal accesso...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
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 ...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Population demographics largely influence the location personal accessory retailers. That’s why New South Wales, Victoria and Queensland account for the majority of stores.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
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...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
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...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Strandbags's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Louis Vuitton Australia's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Luxottica's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 4 additional companies
Detailed analysis
- Description and key data for Strandbags, and factors influencing its performance in the industry
- Description and key data for Louis Vuitton Australia, and factors influencing its performance in the industry
- Description and key data for Luxottica, and factors influencing its performance in the industry
- Description, key data and performance trends for 4 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Personal Accessory retailers have enjoyed trade liberalisation policies undertaken by the Federal Government over the past decade. Lower tariffs have cut procurement costs fo...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
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...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Personal Accessory Retailing industry in Australia in 2024?
The market size of the Personal Accessory Retailing industry in Australia is $1.4bn in 2024.
How many businesses are there in the Personal Accessory Retailing in Australia industry 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.
Has the Personal Accessory Retailing industry in Australia grown or declined over the past 5 years?
The market size of the Personal Accessory Retailing industry in Australia has been declining at a CAGR of 0.6 % between 2019 and 2024.
What is the forecast growth of the Personal Accessory Retailing industry in Australia over the next 5 years?
Over the next five years, the Personal Accessory Retailing industry in Australia is expected to grow.
What are the biggest companies in the Personal Accessory Retailing market in Australia?
The biggest companies operating in the Personal Accessory Retailing market in Australia are Strandbags, Louis Vuitton Australia and Luxottica
What does the Personal Accessory Retailing in Australia include?
Handbags, wallets and purses and Luggage and other travel goods are part of the Personal Accessory Retailing industry.
Which companies have the highest market share in the Personal Accessory Retailing in Australia?
The company holding the most market share in Australia is Strandbags.
How competitive is the Personal Accessory Retailing industry in Australia?
The level of competition is moderate and increasing in the Personal Accessory Retailing industry in Australia.
