in apparel
Keychains are a sought-after accessory, as keys are one of the most frequently misplaced items.
With shoppers looking for easy ways to keep their keys together, the keychain market is full of chances.
In 2023, the accessories market hit an amazing $101.60 billion, and it's expected to grow by 1.01% each year from 2023 to 2026.
This growth trajectory suggests a lucrative niche for retailers, particularly in the keychain segment.
Consider this: keychains typically retail between $10 and $20, while their wholesale cost ranges from just $1.00 to $1.10 per item, depending on the design. This leads to an impressive profit margin of 90%.
Given the strong demand, retailers would be wise to stock keychains that consistently sell out quickly. These popular items include:
Most consumers are looking for personalized keychains that resonate with their personality.
For example, keychains with:
These personalized keychains have high sentimental value, making them a meaningful and affordable gift option. This further increases the demand and sales of personalized keychains.
Due to the love of fashion and cosmetics among girls, the demand for fashion accessory keychains is rising.
These keychains are embellished or unembellished and feature dangling fashion accessories including:
Keychains have evolved from just key holders to multifunctional accessories, making them a preferable choice for customers.
These come with mini tools dangling from the chain which enhances their utility.
Some dangling tools include a flashlight, measuring tape, stress ball, laser pointer, mini wallet, Bluetooth device, etc.
Safety keychains come with tools for self-defense in emergencies like car crashes or attack threats. These tools include:
While sourcing keychains, you should prioritize:
It’s important to stock high-quality keychains that are easy to use, durable, and rust-resistant. To gauge quality, ask for a sample from the suppliers.
A retailer should showcase keychains in various designs and price ranges (branded or non-branded) to attract a wide customer base.
Regarding material, keychains are made of leather, metal, plastic, wood, etc. However, plastic keychains are highly preferred by customers for being lightweight and budget-friendly.
Ensure the legality of the item before making a bulk purchase.
For example, safety keychains are prohibited in some countries if they contain deadly weapons like brass knuckles or stun guns.
However, it is allowed in some states to buy or carry these by obtaining a special permit.