Asia Pacific

In 2023, overall jewellery is set to register a decline in current value terms, despite low growth in retail volume terms. This is expected to result in minimal value growth across overall personal accessories, as jewellery accounted for nearly 50%…

The combination of ethical, environmental, and quality considerations, coupled with effective marketing strategies, is contributing to the rising popularity of brands offering lab-grown diamonds in the Philippines. Lab-grown diamonds are often…

With the end of the zero-COVID policy, personal accessories, which experienced a contraction in 2022 in both retail volume and current value terms, is set to exhibit robust signs of recovery in 2023 overall. This resurgence has notably been driven by…

In 2023, the revival of tourism and increased foot traffic among local consumers played a pivotal role in the rebound of personal accessories in Hong Kong. High-end products experienced a noteworthy resurgence, driven by the resilient spending power…

Personal accessories experienced remarkable current value growth in India in 2023, building on its recovery from the challenges of the pandemic period. With a notable resurgence in travel activities and a renewed focus on personal style, the industry…

Retail sales of apparel and footwear in Indonesia registered accelerated growth in constant value terms in 2023, when compared to the previous year. As the country emerged from COVID-19 crisis, Indonesians became increasingly keen to travel,…

In 2023, there was a symbolic pivot in how Japan faced COVID-19. It was in May that the government announced that it would reclassify COVID-19 from a Class 2 infectious disease to a Class 5 infectious disease. Class 2 meant it was a crucial disease…

Since pandemic restrictions were lifted there has been a general uptick in sales across all categories of personal accessories, with this pattern continuing into 2023. The reopening of Malaysia’s borders has seen the return of international tourism,…

Overall retail volume sales of personal accessories are expected to register a small decline in 2023, as the industry has navigated a slowing sales momentum post-pandemic, while managing the challenge of rising prices as a result of inflationary…

Continuing high inflation and financial constraints derived from the unstable global economy have discouraged consumer spending on discretionary items, which is set to result in slower retail volume and current value growth for personal accessories…

In 2023, Taiwan's personal accessories industry experienced strong current retail value growth, driven by notable trends. The demand for bags and luggage rose, with consumers seeking high-quality, fashionable options, with many showing a preference…

Sales of personal accessories are expected to show continued signs of recovery in the market in 2023, despite factors hindering growth, such as local political uncertainty, higher household debt, high rates of inflation, and higher consumer…

Higher consumer spending due to urbanisation, more online and offline retail opportunities due to high economic activity, and a growing interest in personal style and expression as a response to long periods of COVID-19 lockdowns are set to drive…

In 2023, following the post-COVID-19 reopening, traditional and connected watches in China began to gradually recover, particularly after travel and health restrictions were lifted. After seeing a strong decline in 2022, the category is set to see…

The rebound in sales of traditional and connected watches in Hong Kong has been driven by the resumption of tourists and increased foot traffic among domestic consumers. Within watches, the higher price tiers experienced a significant rebound in…

In 2023, traditional and connected watches maintained significant current value growth in India, although connected watches surged ahead of traditional watches in terms of growth; a trend attributed to the increasing emphasis on fitness and health in…

Traditional and connected watches registered relatively modest growth in constant value terms in 2023, when compared to the previous year. This was due to the declining fortunes of quartz analogue watches, which represented the largest category in…

Increasing unit prices has been a decades-long trend in traditional watches. Especially after the COVID-19 pandemic, unit prices rose by over 10% YoY from 2020 to 2022. The last decade also saw numerous years of volume decline. A main reason behind…

Basic and mid-range traditional watches saw slower growth in retail volume terms in 2023 after seeing dynamic double-digit growth in 2022. The target audience for these products are generally more price-sensitive and they were impacted significantly…

Traditional watches in Singapore is set to achieve slower growth in 2023 compared with 2022, although the category is expected to continue to register solid growth in retail current value terms and lower but steady growth in retail volume terms.…