PROSPECTS AND OPPORTUNITIES
The surge in second-hand luxury shopping amongst young Mexicans
In Mexico, there is a rising trend of second-hand luxury shopping, which is evolving into a popular choice for consumers, especially younger generations. Since the pandemic, there has been a notable increase in both sales of second-hand luxury items, and consumer interest in selling or renting their products.
Luxury handbags set to maintain growth
Despite the slowdown in growth anticipated for bags and luggage during 2024, the luxury segment is set to continue its dynamic growth trajectory, particularly luxury handbags, which is expected to maintain double-digit growth in retail current value terms. Although the growth rates of luxury handbags are likely to slow in the forecast period, solid increases are still expected.
Technology is set to redefine luggage design
The integration of technology and functionality into the design of bags and luggage has become a key trend in the global market, and the Mexican market is no exception. This approach aims not only to enhance the user experience, but also to respond to the consumer demand for smarter, more practical products.
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Overview:
Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in Mexico 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 Mexico, 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 Mexico 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 Mexico?
- Which are the leading brands in Bags and Luggage in Mexico?
- How significant is tourism in determining sales and demand for Bags and Luggage in Mexico?
- How are COVID-19 and global recession impacting demand for Bags and Luggage in Mexico?
- 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 Mexico - Category analysis
KEY DATA FINDINGS
Bags and luggage faces a slowdown in growth amidst rising prices
Mexicans shift focus from upgrading possessions to experiences
“Hermès in the Making” exhibition raises the brand’s profile
The surge in second-hand luxury shopping amongst young Mexicans
Luxury handbags set to maintain growth
Technology is set to redefine luggage design
Personal Accessories in Mexico - 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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