London, 23 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the handbags market in Italy 2015-2019, which is expected to grow at a negative CAGR of 1.65% by revenue and 1.92% by volume during the forecast period of 2014-2019.
New product launches and various promotional campaigns are expected to positively influence the demand for handbags in the country. Also, tourists are the largest purchasers of luxury handbags in the country, contributing to the growth of the market.
“Manufacturers of handbags are investing heavily in the marketing and promotion of their products. They focus on increasing brand awareness, reinforcing brand relevance, engaging consumers, and guiding consumers to the stores or websites,” says Faisal Ghaus, Vice President of Technavio.
“Companies use various methods such as direct marketing, which includes email, print advertising, catalogs, and brochures; in-store events; and internet marketing techniques, to increase their brand equity and promote their products.”
Key Market Drivers
- Availability of high-quality leather
- High impact of fashion trends on consumers
- Increased demand for handbags for men
- Increase in affinity index
Key Market Trends
- New product launches
- Advertisement and marketing campaigns
- Growing e-commerce in Italy
- Launch of exclusive designer collections
Key Market Vendors
- Chanel SA
- Dolce & Gabbana srl
- Furla SpA
- Giorgio Armani SpA
- Guccio Gucci SpA
- Hermès International SA
- LVMH Moët Hennessy
- Prada SpA
- TOD’s Group
- Valentino SpA
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%…
