Handbag, Luggage & Accessory Stores in Canada
Over the five years to 2017, demand for the Handbag, Luggage and Accessories Stores industry has contracted as the brick-and-mortar retailers that operate in this industry have struggled as a result of increasing external competition. With personal leisure time at a premium and e-tailers offering a convenient outlet for most consumers' needs, e-commerce has risen rapidly, contributing to significant declines in industry revenue. Furthermore, the proliferation of mass merchandisers like Walmart has siphoned revenue from the industry, particularly its low- and mid-priced segments. Over the five years to 2022, IBISWorld expects that the same drivers will continue to negatively impact the industry. Ever-increasing external competition from e-tailers and mass merchandisers will continue to pressure demand. While low- to mid-priced operators were the most affected by external competition over the five years to 2017, IBISWorld estimates that the luxury segment will become increasingly pressured over the five years to 2022 as more high-end department stores enter the Canadian market and siphon consumer dollars from the industry.
This industry includes specialty retailers that predominantly sell handbags, luggage, briefcases or any combination of these products.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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