London, 22 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global satchel and saddle bags market 2015-2019, which is expected to post CAGRs of 4.50% and 3.83%, in terms of revenue and volume respectively, during the forecast period of 2014-2019.
The high demand for affordable luxury products, a stabilizing economy, increasing disposable income, and rising spending by teens are driving the market. Brands such as Coach, Michael Kors, Kate Spade, Ralph Lauren, and Tory Burch are popular among consumers.
“Working women readily spend money on handbags and luxury goods and are well informed about the different brands available. Most working women use their handbags for multiple purposes, such as to carry laptops or tablets, wallets, and food,” says Faisal Ghaus, Vice President of Technavio.
“Many national and international brands such as Da Milano, Hidesign, and Caprese have tailored their products to suit the requirements of these financially independent women.”
Key Market Drivers
- Increase in Consumer Income Level Worldwide
- Growth of Online Retailing/E-commerce
- Increased Urbanization
- Emergence of Handbags (satchel and saddle bags) as a Fashion or Lifestyle Product
- Rising Number of Sales Offers by Vendors
- Increase in Marketing Campaigns
Key Market Trends
- Increased Use of Social Media by Retailers
- Launch of New Products
- Increasing Demand among Working Women
- Increasing Investment in R&D
- Personalized Bags
- Celebrity Endorsements
Key Market Vendors
- Burberry Group plc
- Chanel SA
- Coach Inc.
- Etienne Aigner
- Furla
- Hermès International SA
- Kate Spade
- LVMH
- Michael Kors
- Mulberry
- Prada
- Ralph Lauren
- Tory Burch
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%…
