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Learn moreFeb 2021
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After maintaining dynamic double-digit retail current value increases during most of the review period, along with slightly slower retail volume growth rates, luxury leather goods has seen sales plummet by both measures in 2020, due to COVID-19. The emergence of the virus in the country at the beginning of the year led to a nationwide lockdown from the end of March to the end of May, during which all non-essential retail outlets were closed, including retailers of leather goods.
Luxury travel goods has seen by far the strongest retail volume and current value declines within luxury leather goods in 2020. With travel restrictions in place both domestically and in other countries globally, and with both business and leisure travel affected, demand for luxury luggage has fallen drastically.
The central role of social media in consumers’ everyday lives is a key factor in the development of a wide range of luxury goods, and is particularly influential in luxury leather goods. This was the case even before the arrival of COVID-19 in the country, but has become even more important with lockdowns and movement restrictions.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Leather Goods industry in India with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Leather Goods industry in India, our research will save you time and money while empowering you to make informed, profitable decisions.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.