London, 13 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the Global Totes Market 2015-2019, which is expected to grow at a CAGR of 5.22% in terms of revenue and 4.56% in terms of volume during the forecast period of 2014-2019.
Increased globalization, manufacturing delocalization, a sophisticated supply chain, complex distribution models, differential pricing, and a constant check on consumer behavior have emerged as key economic factors for luxury brands to generate revenue. The rising number of product innovations, coupled with rising disposable income, is expected to drive the growth of the global totes market during the forecast period
“Superior-quality leather is being used to make totes as consumers prefer the esthetics of such leather, and are even willing to pay a premium for it,” says Faisal Ghaus, Vice President of Technavio.
“Totes launched under exclusive designer labels are attracting consumers across the globe. Emphasizing on the fashion element, vendors are able to fetch premium prices for these totes from consumers.”
Key Market Drivers
- Totes and Urban Population
- Emergence of Totes as a Fashion/Lifestyle Product
- Increased Spending by Teens
- Increasing Preference for American and European Brands
- Demand for Affordable Luxury Brands
- Demand for Art-inspired Bags
Key Market Trends
- Rise in Demand for New Leather Skins
- Launch of Exclusive Designer Collections
- Launch of New Products and R&D
- Brazil by Bags Initiative
- Increasing Demand among Working Women
- Eco-friendly Bags
Key Market Vendors
- Burberry Group plc
- Chanel SA
- Coach Inc.
- 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%…
