Men Are Spending Money on Luxury Accessories
Men Are Spending Money on Fashion Accessories
This post Men Spending on Fashion, was inspired by an article
by Marissa Stempien for Fashion Editor, JustLuxe.com entitled;
“You Won’t Believe How Much Money Men Are Spending on
Accessories This Year.”
The article caught my attention because I have heard Steve
Harvey, on several occasions speaking on his clothing line and
accessories and about the number of celebrities who are
influenced by his attention to fashion.
I really like the article it gave me an understanding of men’s
buying habits and where their money is being spent.
According to the article jewelry and watches, has the lion share
of the market which is up 12 percent from last year. Jewelry had
sales of about $3.7 billion.
Closely behind was watches with about $3.2 billion in sales and a
seven percent growth. Sunglasses was next with $2 billion of
sales which represent a 10 percent growth.
The greatest percentage increase was bag sales which was up a
whopping 24 percent with $1.9 billion in sales, other accessories
such as umbrellas, gloves and belts brought in about $1.6 billion
in sales, an increase of six percent from last year.
In her article Ms. Stempien, cited a study by the NPD Group and
reported by WWD, that, “it seems that the men’s accessories
market has been gaining quite a bit of momentum over the last 12
months with $14.1 billion spent overall from September 2013 to
August 2014.” The figure was a 10 percent increase from the
The article went to to state that traditionally Ladies are more
readily willing to dish out extra cash to pick up the most up-to-
date looks, but it seems like guys are starting to come around to
their way of thinking.
So much that the industry is now about $14.1 billion and growing
and improving with new brands, accessory lines.
Over the past few years the men’s fashion market has been
continually growing and improving with new brands, accessory
lines, collaborations and artistic direction, and it’s clearly gained
a following$14.1 billion worth.
This is music to the ears of independent luxury consultants of
luxury designer fashion house with most of the things men are
now spending money on. This opens up a huge opportunity for
companies with unique products.
$14 billion is no chump change but it is only a small percentage
of what women spends.
“Today, more men are looking to stand out in a crowd, and
accessories are a way to make a bold statement without having to
overhaul their wardrobes,” said Marshal Cohen, chief industry
analyst, of the NPD Group, earlier this year.