Until now, the U.S. accessories market has operated without a comprehensive, ongoing source of market information. Industry leaders have been challenged to reliably track category market size, measure brand share, or get a clear view of the competitive landscape. That’s about to change.
NPD is pleased to introduce its new accessories market tracking service, launching in May 2007. It’s designed to give manufacturers, retailers and other companies who track this industry an accurate read on what categories and products are driving the business and insight into consumer purchase behavior and profiles.
“For the first time, companies can explore what, where, for whom, and why consumers buy accessories – across a broad range of categories including gift and special occasion purchases – and learn how the products are actually used and worn. I spent almost a decade as director of marketing research for one of the premier accessories brands and have a first-hand appreciation for how difficult it is to get an external, objective, quantified read on the marketplace and competitive landscape. I am very excited for NPD to introduce this new service to an industry that can put its insights to work right away,” said Director, Product Management Caroline Pisaniello.
Launching with first-quarter 2007 data, the service leverages NPD’s large online panel to capture consumer-reported purchases for bags and luggage, watches, jewelry, sunglasses, small personal accessories, and more – and includes purchases made for women, men, and children. Consumer data provides deep insight into who is buying accessories and why. It also provides an all-encompassing view of the market, because NPD captures consumer purchases of accessories across all retail channels, including the Internet, catalogs, and TV home shopping.
Retail point-of-sale (POS) data is available for women’s and men’s bags sold in department stores and national chain stores, covering all types of bags, from fashion and sport bags to business and travel bags. NPD’s retail tracking service monitors actual sales of bags and luggage down to the style level, giving clients a very granular perspective on which brands and styles are driving the business in these important retail channels. Additionally, companies can compare out-the-door pricing across brands and identify which product features are associated with the hot sellers – and they can use this information to pinpoint growth opportunities.
The two data sources answer different questions for accessories marketers, but together, they are a powerful combination that brings new and unprecedented insights to the dynamic accessories marketplace.
To learn more about the accessories market tracking service and what it can do for your business, contact Andrew Beilenson at 866-444-1411 (contactnpd@npd.com).
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