London, 13 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the Handbags Market in Germany 2015-2019, which is expected to grow at steady CAGR of 3.65% by revenue and 3.33% by volume during the period 2014-2019.
The emergence of online retailers and increased online campaigns have influenced increased online purchases by consumers, which in turn increases online sales of handbags. An increase in purchasing power and an improvement in the economy are expected to influence the growth of this market positively during the forecast period.
Increasing penetration of per capita consumption or ownership of handbags among consumers is the primary growth driver for an increase in volume sales in the market. The desire to own different bags for different occasions is influencing the behavior, especially among women, to buy more handbags.
“Vendors are continuously trying to innovate with their product offerings, in terms of design, color, shape, and weight, to meet the varied needs of consumers,” says Faisal Ghaus, Vice President of Technavio.
“The increasing popularity of metallic print handbags in Germany and other European countries is expected to fuel the growth of the handbags market during the forecast period.”
Key Market Drivers
- Increasing consumer income levels
- Germany is popular for leather
- High regard for fashion
- Increased demand for male handbags
- Increase in affinity index
- High demand for affordable luxury brands
- Online shopping clubs popular among German consumers
Key Market Trends
- Growing e-commerce in Germany
- New product launches
- Launch of exclusive designer collections
- New store openings
- Advertisement and marketing campaigns
Key Market Vendors
- Braun Buffel
- BREE Collection GmbH
- Etienne Aigner AG
- Hermès International SA
- Hugo Boss AG
- LVMH Moët Hennessy
- Michael Kors (USA) Inc.
- Mode Creation Munich (MCM)
- Picard Lederwaren GmbH
- VF Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
