Sales of bags and luggage are set to see strong and stable growth in retail volume terms over the forecast period, with sales set to see a full recovery to pre-COVID-19 levels by 2024. A key factor in the recovery will be the recovery of inbound and outbound tourism in the Philippines.
Manufacturers and retailers are increasingly focusing on pushing fashion centred products within bags and luggage in the Philippines and are launching product ranges that are designed to be matched with different outfits. A growing number of people are now buying bags and luggage as a fashion statement, with some people ending up buying same product but in different colours so that they can match it with different outfits.
The bulk of bags and luggage sales have traditionally been made through department stores and specialist retailers, but the COVID-19 pandemic helped drive strong interest in sales through e-commerce with this trend expected to continue developing over the forecast period. While pure-play e-commerce retailers such as Lazada and Shopee have been at the forefront of this development with the offer of attractive prices and promotions, store-based retailers have also been investing in their online operations.
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Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in Philippines 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 Philippines, 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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