Retail Industry
Industry: Email Alert RSS FeedA Little Pizzazz
American Demographics, April 1, 2003 by John Fetto
Byline: JOHN FETTO
So you've found the perfect skirt, blouse and shoes, but there's still something missing from the ensemble? Adding a belt, a watch or any number of items from the accessories department just might do the trick. According to New York City-based Accessories magazine, American women snatched up some $27 billion in fashion extras in 2002. Garnering the largest share of the market was jewelry (both costume and bridge), which fetched $7.2 billion at retailers nationwide. Other sectors with sales in excess of a billion bucks include handbags ($5.1 billion), hosiery ($4.4 billion), watches ($3.6 billion) and even sunglasses ($2.1 billion). And don't forget about hats ($846 million), belts ($625 million), scarves ($607 million) and hair accessories ($421 million); lower sales don't mean they're not fabulous. Although consumers may have shied away from fashion extras post-Sept. 11, if industry analysts are correct, sales will be perking up this year as Americans begin to bring the sparkle back into their lives. Even in a down economy, say experts, accessories provide a relatively cheap way to update a wardrobe.
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