PROSPECTS AND OPPORTUNITIES
Luxury handbags and luggage set to drive growth in the forecast period
Bags and luggage in South Korea is expected to see low retail volume growth and dynamic retail current value growth in the forecast period. Luxury handbags is expected to record the highest growth during the forecast period.
Second-hand market for bags and luggage will be one to watch
The second-hand market is likely to be watched closely over the forecast period. With the economy remaining weak and exchange rates surging, bags and luggage, dominated by luxury goods, is no longer likely to be as dynamic as it once was.
Retro fashion trend and new openings set to boost sales of Eastpak and JanSport
Retro fashion in South Korea seems to be taking a slightly different direction compared with global trends. While retro brands such as Coach are regaining popularity in other countries, the brand’s sales in Korea, which had sharply declined in the past, have only seen a slight improvement.
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Overview:
Understand the latest market trends and future growth opportunities for the Bags and Luggage industry in South Korea 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 South Korea, 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 South Korea 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 South Korea?
- Which are the leading brands in Bags and Luggage in South Korea?
- How significant is tourism in determining sales and demand for Bags and Luggage in South Korea?
- How are COVID-19 and global recession impacting demand for Bags and Luggage in South Korea?
- 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 South Korea - Category analysis
KEY DATA FINDINGS
Growth slows for luxury bags compared with previous highs, as some consumers turn to watches and jewellery
Luggage drives growth as travel rebounds, with players that meet consumers’ needs benefiting
Sustainability becoming more important in bags and luggage
Luxury handbags and luggage set to drive growth in the forecast period
Second-hand market for bags and luggage will be one to watch
Retro fashion trend and new openings set to boost sales of Eastpak and JanSport
Personal Accessories in South Korea - 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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