Men's Ties and Accessories - UK - March 2007

SUMMARY

Abstract

Following a period in the wilderness, men

TABLE OF CONTENTS

Table of Contents

• Issues in the Market
• Key themes
• Definitions
• Market in Brief
• Value slow to rise
• Mods rock accessory sales
• Ties leave work...
• ...to go out socialising
• Global warming means cold spell for gloves
• Hats take off
• Clothing multiples elevate own-label
• Accessories for all
• Accessories get the green light
• Internal Market Environment
• Changing working patterns
  • Figure 1: Self-employed and home-working, 2002-06
• Working wardrobe redundant
• Ties lose office space
• Males accessorising extension of the male grooming trend
  • Figure 2: Agreement with attitude statements on clothing, men, 2002-06
  • Figure 3: Agreement with selected lifestyle statements on personal appearance, men, 2002-06
• Male individual style
• Attitudes to celebrities
• Icons for the baby boomers
• Growing environmental concerns
• Milder weather has been challenging
  • Figure 4: Average winter temperature, 2001/02-2005/06
• Broader Market Environment
• AB socio-economic status growing
  • Figure 5: Changes in socio-economic status, 2001-06
• Middle classification of society
• Competition for spending
• Ageing population
  • Figure 6: Changes in the UK demographic profile, by age, 2001-06
• Baby boomers booming
• Fashion vs function
• Catching the peacocks while they are young
• Competitive Context
  • Figure 7: Summary of market strategies in other male clothing markets, 2005/06
• Strengths and Weaknesses in the Market
• Strengths
• Weaknesses
• Market Value and Forecast
• Value growth slow
  • Figure 8: UK retail value sales of men's acessories, 2001-06
• Relying on ties
• Accessories abound
  • Figure 9: UK retail value sales of men's accessories by segment, 2006
• Forecast and future
• Adorning growth
• Attracting new entrants into the market
• Internet shopping appeal to men
• Ease of market entry will encourage new players
• Men's love affair with designer clothing will continue
• Competing purchases
• New lines will develop
  • Figure 10: Market size, volume and forecast of the total market of ties and accessories, current and 2006 prices, 2001-11
• Price wars on the high street
• Making ties fashionable again
  • Figure 11: Market size, volume and forecast of the tie market, current and 2006 prices, 2001-11
• Keeping the belts up
  • Figure 12: Market size, volume and forecast of the belt market, current and 2006 prices, 2001-11
• Getting a head in the market
  • Figure 13: Market size, volume and forecast of the hat market, current and 2006 prices, 2001-11
• Driving gloves' growth
  • Figure 14: Market size, volume and forecast of the gloves market, current and 2006 prices, 2001-11
• Knitting together new opportunities for scarves
  • Figure 15: Market size, volume and forecast of the scarves market, current and 2006 prices, 2001-11
• Factors incorporated in the forecast
• Segment Performance
• Ties
  • Figure 16: UK retail value sales of men's ties, 2001-06
• Tied to fashion
• Back to black
• Polyester vs. silk
• Silk is fashion choice
• Belts
  • Figure 17: UK retail value sales of men's belts, 2001-06
• Belts stay up
• Hats
  • Figure 18: UK retail value sales of men's hats, 2001-06
• Hats back on top
• Casual hats rock
• Celebrity affects sales
• Gloves
  • Figure 19: UK retail value sales of men's gloves, 2001-06
• Gloves in a cold climate
• Scarves
  • Figure 20: UK retail value sales of men's scarves, 2001-06
• Scarf sales falter
• Market Share
  • Figure 21: Own-label versus branded men's clothing accessories, by value, 2002-06
• Own-label sales grow
• Accessories for the masses
• Brands and own-labels co-exist
• Companies and Brands
• Accessory specialists
• Tie Rack
• New & Lingwood
• Duchamp
• Hermès
• Michelsons
• Micro
• Hat specialists
• Kangol
• Olney Headwear
• Failsworth Hats
• Leather specialists
• Menswear generalists
• Shirt specialists
• Designer presence
• Internet retailers
• ASOS
• Tie Warehouse
• Own-label
• Designer own-label
• Department and variety stores
• Discounters and grocery multiples
• Brand Communication and Promotion
• Accessories poor relation of clothing advertising
  • Figure 22: Nielsen main monitored media spend on men's clothing, 2003-06
• Rising advertising spend on menswear
• Press is main media
• Promoting ties
  • Figure 23: Nielsen main monitored media spend on neckwear, 2003-06
• Tie advertising spend plummets
  • Figure 24: Leading neckwear advertisers, 2006
• Brand awareness is main feature of accessory promotion
• Channels to Market
• Winners on the high street
  • Figure 25: Sales of men's clothing accessories, by type of outlet, 2002-06
• Multiples go forth
• Internet sales grow
• Supermarkets compete
• Consumer 1 -- Purchasing Habits -- Men Vs Women
• Self-purchasing on the slide
  • Figure 26: Amount spent by men on ties in the last 12 months, 2002-06
• Trading up, pricing down
• Gifting -- women buying for men
  • Figure 27: Amount spent by women on ties for men in the last 12 months, 2002-06
• Self purchasing vs gifting
• Ties vie with gadgets
• Men vs women
  • Figure 28: Amount spent on ties in the last 12 months, by gender, 2006
• Women important to market
• Amount spent by attitudes
  • Figure 29: Agreement with selected lifestyle statements by expenditure on ties in the last 12 months, 2006
• Peacocks spend most
• Consumer 2 -- Types of Ties Purchased
  • Figure 30: Purchase of ties in the last 12 months, September-October 2006
• Silk tops
• Polyester fights back
• Younger affluent bias to purchase...
• ...silk remains a particular upmarket choice
  • Figure 31: Purchasing prevalence of silk ties by socio-economic status, September-October 2006
• Ties repertoire
  • Figure 32: Repertoire of ties bought/received, September-October 2006
• Multi-purchase uncommon
• CHAID on tie repertoire
  • Figure 33: CHAID analysis of tie repertoire, September-October 2006
• Working age predicates purchase
• Younger affluent consumers are the most critical purchasers
• The Consumer 3 -- Ties: Motivations and Usage
• Purchasing motivations
  • Figure 34: Motivations for purchasing a new tie, September-October 2006
• Smart ties
• Men acting on impulse
• Usage
  • Figure 35: Usage of ties, September-October 2006
• Ties aren't working
• Formal ties...
• ...can help enhance the wearer's image
• Reviving the tie
  • Figure 36: Tie wearing at formal and informal occasions, by age, September-October 2006
• Appendix
• Internal Market Environment
  • Figure 39: Agreement with the statements 'I usually wear a complete/matching outfit (jacket and tie suit, dress)' and 'I wear just anyhow, I don't worry much about it', by men, by demographic sub-group, 2006
  • Figure 40: Agreement with the statements 'I spend a lot of money on clothes' and 'I try to dress in the most practical way', by men, by demographic sub-group, 2006
  • Figure 42: Agreement with the statements 'I wear designer clothes' and 'I dress in a very personal way', by men, by demographic sub-group, 2006
  • Figure 43: Agreement with the statements 'I consider accessories very important (shoes, socks, belts, ties, scarves)' and 'I buy my clothes only in high-class boutiques', by men, by demographic sub-group, 2006
  • Figure 44: Self-employed and home-working, by demographic sub-group, 2006
  • Figure 45: Agreement with the statements 'A designer label improves a person's image', 'I spend a lot of money on toiletries and cosmetics for personal use', and 'I spend a lot on clothes', by men, by demographic sub-group, 2006
  • Figure 46: Agreement with the statements 'I like to keep up with the latest fashions', 'I really enjoy shopping for clothes', and 'I buy clothes for comfort, not for style', by men, by demographic sub-group, 2006
  • Figure 47: Agreement with the statements 'I like to stand out in a crowd', 'It is important to me to look well dressed', and 'I have a very good sense of style', by men, by demographic sub-group, 2006
• Ties purchased
  • Figure 48: Ties bought/received in the last 12 months, by demographics, September-October 2006
• Purchasing of belts, scarves, hats and gloves
  • Figure 49: Purchase of belts, scarves, hats and gloves, by detailed demographics, September-October 2006
  • Figure 50: Purchase of belts, scarves, hats and gloves, by detailed demographics, September-October 2006
• Ties -- Purchasing motivations
  • Figure 51: Motivations for purchasing a tie, by detailed demographics, September-October 2006
• Tie usage
  • Figure 53: Usage of ties, by detailed demographics, September-October 2006