Having plunged by almost a fifth during 2020, retail current value sales of bags and luggage will stage a modest recovery during 2021. Retail current value sales of bags and luggage were declining during the latter part of the review period even before COVID-19 struck due a weak economic environment, so when lockdown measures were introduced in Mexico during spring 2020, the economic disruption and uncertainty it engendered led many local consumers to significantly restrict their discretionary purchases.
Mixed retail, particularly department stores, is the most important distribution channel for bags and luggage, ahead of non-grocery specialists – apparel and footwear specialist retailers and leisure and personal goods specialist retailers. E-commerce surged in importance as a distribution channel for bags and luggage during 2020.
Bags and luggage is highly fragmented, with the four leading players accounting for just 11% of retail value sales between them in 2020. The bulk of leader Louis Vuitton México S de RL CV’s retail value share is accounted for by its eponymous brand, which is particularly strong in crossbody bags, waist and coin pouches, other small bags and luggage.
The rate of growth in retail current value sales of bags and luggage will accelerate sharply during 2022 and remain robust during the remainder of the forecast period. An anticipated post-pandemic economic recovery will play a significant role in this, as will a recovery in both domestic and international travel.
After luggage, luxury handbags will be one of the top performers in bags and luggage during the forecast period, significantly outperforming non-luxury handbags. This will reflect more buoyant consumer confidence as the local economy begins to expand again.
The forecast period will see warehouse clubs and hypermarkets grow in importance as distribution channels for bags and luggage – particularly backpacks. These retailers typically only stock these products during the back-to-school shopping season, in an effort to lure parents into their stores.
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Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Bags and Luggage
Bags and Luggage includes bags and cases which serve common everyday purposes or specific functions during travel, sports, or formal occasions. However, all sports equipment bags (e.g. golf, tennis, and bowling), insulated food and beverage bags, and musical instrument cases are excluded.See All of Our Definitions
This report originates from Passport, our Bags and Luggage research and analysis database.
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