With the outlook for travel looking unlikely to return to normal within 2021, footfall in luggage retailers is expected to remain limited. The is due to the reduction in tourist numbers, as well as domestic consumers who are unlikely to purchase travel-related products such as luggage.
Due to the travel and lockdown restrictions, domestic consumers are increasingly channelling their discretionary spending (which would have been used for travel), towards personal luxury products such as luxury handbags. This is exemplified by OnTheList - a members-only discount-based luxury retailer based in Hong Kong which launched its first flagship showroom in Singapore during 2020 - which showed double-digit consumer traffic growth in April and May 2020.
The gradual easing of social restrictions in 2021 will pave the way for an increase in outdoor activities such as hiking and trekking. This will support demand for bags that have outdoor purposes, such as backpacks and other small bags.
With the focus increasingly transferring to everyday functional items, bags and luggage players have been increasingly developing smart technology to enhance the backpack wearing experience. For example, the Samsonite brand launched its Konnect-I Backpack in collaboration with Jacquard (by Google) in Singapore during October 2020.
The pandemic has accelerated the shift towards more sustainable methods of production, as well as prompting consumers to seek the most sustainable options. Herschel Supply Co Singapore recently collaborated with Starbucks to launch its first sustainable collection of bags.
With the closure and selling limitations of physical outlets during the lockdown in Singapore, bags and luggage players have taken the opportunity to revamp their online retail presence. E-commerce is increasingly proving to be a valuable channel for bags and luggage sales, so players are aiming to capture and retain category shares.
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Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Bags and Luggage research and analysis database.
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