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Strategy Briefing

Mapping Out Growth Strategies in Bags and Luggage

27 pages, Mar 2015

US$1,325

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About This Report

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

After driving bags and luggage sales over 2009-2012, several luxury conglomerates have seen lower growth rates and have lost market share since. This briefing analyses the factors which will affect bags and luggage sales over 2015-2019. In doing so, it identifies growth markets beyond China, key demographics to target, as well as retail strategies to adopt for future growth.

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Overview

Why buy this report?

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.

Economy and demographics dictate growth in bags and luggage

Bags and luggage are often seen as non-essential products; beyond their purely functional role, a major consideration is the cosmetic appeal. As such, expenditure on the industry is susceptible to fluctuations in times of recession, when consumers often postpone non-essential purchases.

Arguably, female consumers are the primary, purchase decision makers for these products, therefore targeting this group by age breakdown, is liable to maximise return on marketing investment.

Looking beyond China

Between 2009 and 2014, China recorded unprecedented growth both in terms of both the economy and in bags and luggage sales. However the era of continuous annual double-digit growth is likely to end between 2015 and 2019, so to maintain growth, developing new markets is essential for luxury and mid-priced brands alike.

Retail strategy must include specialists

Bags and luggage specialist retailers accounted for 40% of global sales in 2014 and are key to establishing a substantial market share in most markets. This may be through operating a self-run retail network (e.g. Louis Vuitton), partnering with local multi-brand retailers or operating a single-brand retail network with local franchisees (e.g. Samsonite).

Mid-priced brands on the ascent

Samsonite International, VF Corp and Fossil Inc are three of the mid-priced players which are well-positioned to take advantage of the current economic uncertainty. They should expand their retail presence aggressively across leading markets such as China, the US, Japan and South Korea.

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Introduction

Scope

Key findings

Handbags lead growth

Slowdown in the luxury phenomenon

Economy and Demographics

Sales follow economic patterns

Global consumer segmentation

Focusing on the female consumer

Markets of the Future

Identifying growth drivers beyond China

US: Handbags and ageing population take centre stage

US: Well segmented competition set to be polarised

South Korea: Mature consumer drives demand for handbags

South Korea: International players to consolidate lead

India: Create demand by educating the consumer

India: Market leaders must diversify portfolios

Developing Specialist Retail

No global leaders for specialist retailers outside luxury

Partnerships with local retailers essential

Landscape in 2019

Changing hierarchy of global markets

Identifying growth spots in the female demographic

Mid-priced brands and specialist retail to rise

definitions

Categories and distribution

Why buy this report?

Want to find out more about this report?

Request more information

Megatrends

Strategy Briefing

Mapping Out Growth Strategies in Bags and Luggage

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Economy and demographics dictate growth in bags and luggage

Looking beyond China

Retail strategy must include specialists

Mid-priced brands on the ascent

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Handbags lead growth

Slowdown in the luxury phenomenon

Economy and Demographics

Sales follow economic patterns

Global consumer segmentation

Focusing on the female consumer

Markets of the Future

Identifying growth drivers beyond China

US: Handbags and ageing population take centre stage

US: Well segmented competition set to be polarised

South Korea: Mature consumer drives demand for handbags

South Korea: International players to consolidate lead

India: Create demand by educating the consumer

India: Market leaders must diversify portfolios

Developing Specialist Retail

No global leaders for specialist retailers outside luxury

Partnerships with local retailers essential

Landscape in 2019

Changing hierarchy of global markets

Identifying growth spots in the female demographic

Mid-priced brands and specialist retail to rise

definitions

Categories and distribution

Categories and distribution

Why buy this report?

Want to find out more about this report?

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