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The Sales value of Accessories Segment in United States of America (2020 - 2027, USD million)

Industry: Clothing & Footwear
Current: Market Sizing & Shares

The Accessories Segment in United States of America registered Sales value of USD 50,218.22 million in 2023
The indicator recorded a historical growth (CAGR) of 16% between 2020 to 2023, and is expected to grow by...
GlobalData projects the indicator to grow ...

The Sales value of Accessories Segment in United States of America (2020 - 2027, USD million)

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The Jewelry, Watches and Accessories market includes gold jewelry, silver jewelry and other precious jewelry like diamonds, platinum, precious stones (sapphires, emeralds and rubies), pearls (natural and cultured) and semi-precious stones (e.g., quartz, opal, topaz, amethyst, coral etc.), fashion jewelry (non-precious jewelry), hair accessories, belts, hats, gloves, scarves, sunglasses and ties, plus watches.

The US market has been growing at a strong rate in recent years producing good growth. The market is expected to maintain this growth rate, with some deceleration moving towards the end of the forecast period in 2022. The US market has remained particularly strong and stable over the last few years, continually growing which is forecasted to continue up to 2022. Whilst there are a few attributes, the most apparent is the continually growing GDP which is allowing for a greater disposable income for consumers.

Key Highlights

The pandemic wiped a significant share of the US apparel market in 2020
Growth of consumption expenditure and preference for apparel purchases to refresh styles will drive long term growth
Athleisure and the casualization of workplaces will further boost growth of categories that were popular in 2020
Supermarkets and hypermarkets’ emphasis on improving apparel offerings will increase competition in the US market
The online channel will play an integral role in apparel brands’ accessibility and visibility
The need for supply chain diversification is becoming increasingly evident

US Apparel & Footwear Market Drivers

Federal stimulus checks
Online channel
Early lifting of COVID-19 restrictions
Alternative retail models
Casualization
Improved business and consumer confidence

US Apparel & Footwear Market Inhibitors

Supply chain bottlenecks
Recurring waves of the pandemic
Unemployment
Circularity

The accessories market is forecast to grow at a significant percentage by 2025 and will exceed pre-pandemic levels by 2022. Gloves and hair accessories will be a winning category within accessories as shoppers return to stores and government stimulus checks encourage consumers to treat themselves to premium and luxury items.

Top Accessories Brands in United States of America