While bags and luggage has a positive outlook for the forecast period, certain types of products are falling out of favour due to changing consumer lifestyles. For instance, business bags is not expected to reach the pre-pandemic (2019) level of value sales at any point in the forecast period.
Investments in digital or phygital (physical and digital) tactics will become more prominent over the forecast period, as brands look for new ways to build and maintain relationships with consumers. For example, Kering’s Gucci and Balenciaga brands have partnered with virtual gaming platforms Roblox and Fortnite, respectively, for brand activations, including both virtual and physical product collections.
The resale market will continue to attract consumers post-pandemic, offering environmental merits and the opportunity to buy authentic luxury handbags at more affordable prices, affecting sales in the primary market as tracked by Euromonitor. However, positive developments have been seen, with The RealReal Inc’s 2022 Luxury Resale Report citing younger consumers (aged under 25) increasingly viewing resale as an investment, a trend which has accelerated as inflationary pressures mount.
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Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in USA 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.
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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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