Accessories and shoes represent 75% of the luxury market versus 25% of ready-to-wear, with sneakers and handbags leading the pack. A study by automated benchmarking specialist Retviews shows that bags and shoes represent 50% (30% and 20% respectively) of the accessories market. More ‘timeless’ and less dependent on trends than clothing, they attract young customers also because they have a status value and are generally cheaper than other product categories. In the handbag category, Balenciaga and Saint Laurent increasingly attract the younger generation of shoppers, most of the time having low prices. Even at Gucci, one of the trendiest brands, you can find the lowest prices. This clearly shows the desire to reach out to younger customers to build brand loyalty.
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