Handbag, Luggage & Accessory Stores in the US
Over the five years to 2018, the Handbag, Luggage and Accessory Stores industry has fared well, as revitalized demand for fashion accessories and improved consumer confidence levels have driven demand for industry goods. Furthermore, an increase in international trips by US residents has spurred demand for suitcases and other types of luggage. As a result, IBISWorld estimates that revenue has increased. Although industry revenue has expanded during the five-year period, growth has been pressured by heightened levels of external competition. Most notably, operators have struggled to compete with e-commerce operators, as more and more consumers have turned to the internet for their handbag and accessory needs. Over the five years to 2023, industry revenue is forecast to continue expanding. However, competition from alternative accessory retailers, such as department stores, mass merchandisers and online retailers, will continue to divert potential consumers from specialty stores.
This industry includes specialty retailers that primarily sell handbags, luggage, costume jewelry and clothing accessories such as hats, wallets and neckwear. Stores in this industry may also sell apparel or footwear, but sales from these products are not included in the industry. The industry does not include department stores or mass merchandisers that sell similar items. In addition, the industry does not include specialty retailers that primarily sell lingerie or swimwear.
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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