- The key vendors in the Handbags Market in the US 2015-2019 are Burberry Group plc, Chanel SA, Coach Inc., Hermès International SA, Kate Spade, LVMH, Michael Kors, Mulberry, PRADA, Ralph Lauren and Tory Burch
London, 31 March 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Handbags Market in the US 2015-2019. One major trend emerging in this market is the increasing disposable income among consumers. With the rise in disposable income consumers are spending more on affordable luxury products than on premium luxury products. The market has been growing at a steady pace in terms of revenue and volume and is expected to post CAGRs of 5.90 and 5.29 percent, respectively, during the forecast period of 2014-2019.
Contemporary handbags are seen as status symbols and representative of individualistic identity. As a result, demand for luxury and premium handbags is gaining popularity. Various handbag companies are adopting innovative strategies to cater to the changing consumer demography and demand for environment-friendly handbags.
“Consumers are associating handbags with their social status. The introduction of new ergonomic designs, trendy colors, finishing, and textures in handbags have helped them gain importance as fashion accessories,” says Faisal Ghaus, Vice President of Technavio Research.
“Vendors are associating with renowned designers to launch designer collections. Many vendors are also employing celebrities to endorse their brands to create an image and position their product as a lifestyle product.”
To define the market conditions 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%…
