After having plummeted in 2020, demand for luxury leather goods in the Netherlands has improved significantly in 2021, with the category poised to record healthy growth in volume and current value terms for the entire year. Recovery has been fuelled by the national COVID-19 vaccination programme and the easing of public health restrictions, which have facilitated a return to growth in the Dutch economy and strengthened confidence among local consumers.
Men’s luxury business bags have been among the best performing product types within luxury leather goods in 2021. Rising interest in such products is partly attributable to the well-established trend of Dutch men – especially younger male consumers – becoming more fashion-conscious and willing to pay higher prices for leather bags that offer superior quality standards and stylish designs.
E-commerce is set to be by far the most dynamic distribution channel within luxury leather goods in current value growth terms in 2021. While this channel’s value share in the category has been increasing steadily for several years, its penetration has recently been strengthened as public health restrictions imposed to curb the spread of COVID-19 have resulted in the forced closure of non-essential retailers for lengthy periods and concerns about potential exposure to the virus have made many consumers wary of visiting department stores and specialist outlets when they have been allowed to reopen.
Luxury leather goods looks set to develop positively in volume and current value sales terms throughout the forecast period. Growth rates should remain comparatively high in the short term as economic recovery in the Netherlands gains momentum and inbound tourism picks up in line with the further easing of the pandemic and related restrictions.
Luxury travel goods is expected to be the most dynamic performer in volume and current value growth terms over the forecast period. This is partly because many people in the Netherlands are likely to show a renewed appetite for travel as the disruption caused by COVID-19 gradually recedes.
With the fallout of COVID-19 having strengthened consumer appreciation for the convenience, wider range of choices and potential for more competitive price deals offered by online shopping, the value share of e-commerce in luxury leather goods should continue to rise over the forecast period. Further gains for this channel will also be supported by the fact that many specialist retailers have stepped up investment in their digital sales and marketing strategies since the beginning of the pandemic.
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Luxury Leather Goods
This is the aggregation of luxury bags and small leather goods and luxury travel goods.
See All of Our DefinitionsThis report originates from Passport, our Luxury Leather Goods research and analysis database.
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