Fashion market in Cyprus
The Cypriot Fashion eCommerce market is predicted to reach US$278.4 million by 2023 and accounts for 29.0% of the total eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 11.6%, resulting in a projected market volume of US$431.8 million by 2027. Within the Fashion market ecommerceDB considers the following three sub-markets: Apparel, Bags & Accessories, and Footwear.
Market development
eCommerce revenue development in the Bags & Accessories market in Cyprus
The Cypriot Bags & Accessories eCommerce market is predicted to reach US$64.6 million by 2023 and accounts for 23.2% of the Fashion eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 12.3%, resulting in a projected market volume of US$102.8 million by 2027. The Bags & Accessories eCommerce market is a sub-market of the Fashion market. Further categories within the Fashion market are: Apparel, and Footwear.
eCommerce revenue development in the Bags & Accessories market in Cyprus
Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war
Source: Statista Market Insights, ecommerceDB
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 22.7 | 2.7 | 44.4 | 10.8 | 38.5 | 35.7 | 23.3 | 66.8 |
| AOV (in US$) | 22.1 | 66.6 | 14.7 | 31.8 | 33.9 | 28.8 | 58.3 | 88.5 |
| CVR (in %) | 22.7 | 2.7 | 44.4 | 10.8 | 38.5 | 35.7 | 23.3 | 66.8 |
Market definition
Definition of the Bags & Accessories market within the Fashion market
Market definition: Fashion > Bags & Accessories The category Bags & Accessories comprises wearable, fashionable accessories that complement a person's outfit, such as watches and jewelry, scarves and shawls, caps and gloves, luxury leather goods, belts, eyewear, ties and bow ties, as well as luggage and bags with open and closable containers made from any material used by private end consumers to transport items (e.g., suitcases, briefcases, handbags). This market also includes both fashion jewelry and high-end jewelry made of precious materials such as gold, silver, or titanium. Other Accessories includes, among others, jewelry accessories such as steam cleaners and watch accessories such as watchbands and winders. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Watches and jewelry
- Eyewear
- Leather clothes
- Luxury leather goods
- Shawls and scarves
- Ties and bow ties
- Hats and caps
- Gloves
- Felt, fur, and other clothes
- Belts
- Luggage and bags
Out-of-scope
- Clothes (e.g., coats, t-shirts, suits)
- Shoes and shoe accessories (e.g., care products)
- Outdoor and sports clothing
- Protective bags and covers for electronic devices such as notebooks or cameras
Select sub-market
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- Blazers (children) *
- Dresses & Skirts (children) *
- Socks (children) *
- Suits & Ensembles (children) *
- Tights & Leggings (children) *
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- Eyewear Frames *
- Luxury Eyewear *
- Sunglasses *
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* Not available for the selected country