PROSPECTS AND OPPORTUNITIES
Rapid rebound anticipated for luxury handbags, but slower recovery for luggage
Retail volume sales of bags and luggage in China are expected to return to slow and stable growth in the forecast period, whilst retail current value growth is expected to be much higher. All categories are expected to see value growth.
Rising participation in sport set to boost sales of sports bags
With the ongoing athleisure trend and the momentum driven by the 2024 Olympics, sports brands continue to enjoy sustained popularity in the Chinese consumer market, and this is set to continue moving forward. In particular, niche sports such as tennis have been gaining significant traction amongst Chinese consumers due to increased exposure during the Olympics.
E-commerce growth deepens with rise of interest-based social media platforms
As e-commerce penetration deepens, the proportion of sales of bags and luggage through online channels is expected to continue rising in the forecast period. In addition to traditional e-commerce platforms such as Tmall and JD, emerging platforms such as Douyin (China’s version of TikTok), which integrates live-streaming, and RED, a social media platform driven by interest-based KOC (Key Opinion Consumers) fashion influencers, are anticipated to further accelerate this growth.
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Overview:
Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Bags and Luggage industry in China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Bags and Luggage in China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Bags and Luggage in China?
- Which are the leading brands in Bags and Luggage in China?
- How significant is tourism in determining sales and demand for Bags and Luggage in China?
- How are COVID-19 and global recession impacting demand for Bags and Luggage in China?
- In the wake of COVID-19, how soon can Bags and Luggage be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Bags and Luggage in China - Category analysis
KEY DATA FINDINGS
Bags and luggage declines in 2024 due to weak domestic demand
Leading players experience poor performances in China, except Hermès
Miu Miu enjoys high growth by targeting young Chinese consumers
Rapid rebound anticipated for luxury handbags, but slower recovery for luggage
Rising participation in sport set to boost sales of sports bags
E-commerce growth deepens with rise of interest-based social media platforms
Personal Accessories in China - Industry Overview
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
The following categories and subcategories are included:
Bags and Luggage
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- Backpacks
- Business Bags
- Crossbody Bags
- Duffel Bags
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- Non-Luxury Handbags
- Luxury Handbags
- Wallet and Coin Pouches
- Other Small Bags
- Luggage
Bags and Luggage
Bags and Luggage includes bags and cases which serve common everyday purposes or specific functions during travel, sports, or formal occasions. However, all sports equipment bags (e.g. golf, tennis, and bowling), insulated food and beverage bags, and musical instrument cases are excluded.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Bags and Luggage research and analysis database.
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