London, 9 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the travel and business bags market in Brazil 2015-2019, which is expected to grow at a CAGR of 6.39% by revenue during the forecast period of 2014-2019.
Source: Technavio Research
Growing demand for trolley bags, increasing travel and tourism activities, and rising number of business travelers are driving the prospects for growth in the travel and business bags market in Brazil. Introduction of stylish and beautiful bags also aid in market growth as they attract consumers based on their personality and flair. Also, factors like high disposable income of consumers in Brazil, increasing sports and events, and a rise in the number of school and college going students propel the demand for bags in this market.
“A luggage courier service is just an alternative method for checking bags while traveling. Most of the airlines and public transport do not have enough space and also cause problems during traveling. Luggage courier companies use companies such as DHL, FedEx, and UPS for providing these services. They pick customers’ luggage up from their houses and ship it directly to their desired destination,” says Faisal Ghaus, Vice President of Technavio.
“This service is user-centric as this allows users to travel free of any bags. But, there are some issues attached to courier services such as sometimes it is more expensive than the airline, and to avail the best deals the consumer has to ship well in advance.”
Key Market Drivers:
- Rising Middle Class Expenses.
- Rising Popularity of Shopping Seasons.
- Advertisement, Promotions, and Marketing Campaigns.
- Economic Growth.
- Brazil by Bags Initiative.
- Rising Number of Trade Offers by Vendors.
Key Market Trends:
- Smart Luggage.
- Luggage Manufacturers and Retailers Going Beyond Brick-and-Mortar Stores Format.
- Conscious Traveling.
- Luggage Delivery Services.
- Growing Popularity of Outdoor and Adventure Sports.
- Launch of New Products and Increased R&D.
- Foreign Tourists to Boost Retail Sales in Brazil.
Key Market Vendors:
- Ace
- Delsey
- Primícia and Sestini
- Rimowa
- Samsonite
- Tumi
- 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.
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