- The key vendors in the handbags market in the APAC 2015-2019 are Burberry, Chanel, Coach, Hermès, Kate Spade, LVMH (Louis Vuitton), Michael Kors, Mulberry and Prada
London, 02 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the handbags market in the APAC 2015-2019. An important trend emerging in this market is the increased use of social media platforms by retailers in APAC. China and India are heavily engaged in social media, making it an essential marketing channel in the region, a fact that contributes to the online sale of handbags. The handbags market in APAC is expected to grow with a revenue expected to reach a CAGR of 6.5% and volume expected to reach a CAGR of 6.2% during the forecast period of 2014-2019.
The high demand for handbags, increasing disposable income, and existence of e-commerce are driving the handbags market in the region. Many international brands such as Coach, Michael Kors, LVMH, Chanel, D&G, Prada, Gucci, and Christian Dior are highly popular among consumers. The rising number of specialist retail stores is also driving the demand for such brands because of their easy availability.
“The rising use of the Internet, coupled with the rising number of mobile phone users, is driving the sale of handbags,” says Faisal Ghaus, Vice President of Technavio Research.
“The growing trend toward e-commerce and awareness of brands available online at steep discounts are attracting consumers and driving the sale of handbags.”
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.
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