Brands of handbags are opening new types of offline stores in South Korea, whilst focusing on digitalisation to attract millennials and Generation Z consumers who appreciate experiences, diversified content and collaborations. Online-focused brands tend to utilise pop-up stores to promote their offer to offline customers.
Interest in second-hand bags, and the reselling and renting of luxury handbags, is also gaining momentum as local consumers look to own luxury goods. Since luxury brands are continuing to raise their retail prices, an increasing number of local consumers are considering the second-hand market rather than buying new products.
Department stores remains the most popular distribution channel for bags and luggage in South Korea, although it continues to lose share to retail e-commerce. Nevertheless, sales through department stores are notably rising in 2022 due to a combination of revived economic activity and the reopening of local society, while pent-up demand is driving consumers' purchasing habits.
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Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Bags and Luggage industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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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