2021 is set to be a transitional year for luxury leather goods following the impact of the pandemic in 2020. The category is expected to return to growth boosted by economies re-opening, the return of in-store shopping, and continued spending by domestic wealthy individuals who are limiting their travel outside Canada.
Women’s luxury bags and small leather goods was the most resilient category in 2020, supported by continual purchases from domestic wealthy individuals looking to “treat” themselves during the stress of the pandemic. In 2021, the category benefitted from the re-openings of physical outlets and the consumer transition back to pre-pandemic social and work activities.
Luxury travel goods resumed growth in 2021 although conditions remained challenging. Canada’s Federal government continued to advise Canadians to avoid non-essential travel abroad even as it began easing safety measures, such as allowing fully vaccinated (albeit only those vaccinated with Government of Canada approved vaccines) international travellers to enter Canada without quarantining.
Luxury leather goods will see its strongest growth in 2022 and is expected to reach the pre-COVID-19 level of value sales in this year. However, within this, luxury travel goods is expected to recover slowly.
Women’s luxury bags and small leather goods will remain the biggest category of luxury leather goods in the forecast period and are also expected to recover at a faster rate than the overall category. This is because of robust consumer desire for handbags from trendy luxury brands such as Hermes and Chanel.
Increased work-from-home practices and less frequent travel between the home and office are expected to support demand for products such as messenger bags, backpacks, and duffel bags. Consumers are increasingly opting for convenient, functional bags and will demand this from their favourite luxury brands.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Leather Goods industry in Canada 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 Luxury Leather Goods industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Leather Goods
This is the aggregation of luxury bags and small leather goods and luxury travel goods.See All of Our Definitions
This report originates from Passport, our Luxury Leather Goods research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!