Global Handbag Market 2019-2023

Global Handbag Market 2019-2023

About this market

The rapid Internet penetration helps manufacturers offer product information to consumers in a convenient manner, thereby making purchases easy and driving the growth of the global handbag market. Owing to their busy schedules, consumers prefer shopping online. The adoption of digital products such as tablets, smartphones, and laptops have further boosted the online sales of handbags. Social media also plays a pivotal role in increasing product awareness. Consumer engagement through social networking sites and blogs has increased. Therefore, vendors prefer to use social media to increase awareness and promote products. Technavio’s analysts have predicted that the handbag market will register a CAGR of close to 5% by 2023.

Market Overview

Rise in product launches by renowned brands

New product development, improved design and style, and high levels of marketing support will increase the demand for handbags. The availability of new and improved handbag models encourages customers to update their collection. This will support the growth of the global handbag market during the forecast period.

Long product replacement cycles

Major handbag manufacturers give warranty and guaranty for their products, which further increases the life span of the product. This purchase behavior of consumers in the market discourages repeat purchases, thereby lowering the revenue of the market. Thus, the long replacement cycle of handbags restricts sales, thereby hampering market growth.

For the detailed list of factors that will drive and challenge the growth of the handbag market during the 2019-2023, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Handbag Market 2019-2023

Technavio recognizes the following companies as the key players in the global handbag market: Hermès, Kering, LVMH, PRADA, Tapestry, Inc.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the use of omnichannel retailing provides convenience to consumers as well as vendors.”

According to the report, one of the major drivers for this market is the various global expansions in the global handbag market.

Further, the report states that one of the major factors hindering the growth of this market is the counterfeit products adversely impact the sales volume and the goodwill of the company in the market.

Companies Mentioned

Hermès
Kering
LVMH
PRADA
and Tapestry
Inc

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global apparel, accessories, and luxury goods market
      • Table Segments of global apparel, accessories, and luxury goods market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ billions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by distribution channel
    • Table Distribution channel - Market share 2018-2023 (%)
    • Comparison by distribution channel
      • Table Comparison by distribution channel
    • Offline - Market size and forecast 2018-2023
      • Table Offline - Market size and forecast 2018-2023 ($ billions)
      • Table Offline - Year-over-year growth 2019-2023 (%)
    • Online - Market size and forecast 2018-2023
      • Table Online - Market size and forecast 2018-2023 ($ billions)
      • Table Online - Year-over-year growth 2019-2023 (%)
    • Market opportunity by distribution channel
      • Table Market opportunity by distribution channel
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ billions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ billions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ billions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ billions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ billions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table New product launches
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Hermès
      • Table Hermès - Vendor overview
      • Table Hermès - Business segments
      • Table Hermès - Organizational developments
      • Table Hermès - Geographic focus
      • Table Hermès - Segment focus
      • Table Hermès - Key offerings
    • Kering
      • Table Kering - Vendor overview
      • Table Kering - Business segments
      • Table Kering - Organizational developments
      • Table Kering - Geographic focus
      • Table Kering - Segment focus
      • Table Kering - Key offerings
    • LVMH
      • Table LVMH - Vendor overview
      • Table LVMH - Business segments
      • Table LVMH - Organizational developments
      • Table LVMH - Geographic focus
      • Table LVMH - Segment focus
      • Table LVMH - Key offerings
    • PRADA
      • Table PRADA - Vendor overview
      • Table PRADA - Business segments
      • Table PRADA - Organizational developments
      • Table PRADA - Geographic focus
      • Table PRADA - Key offerings
    • Tapestry, Inc.
      • Table Tapestry, Inc. - Vendor overview
      • Table Tapestry, Inc. - Business segments
      • Table Tapestry, Inc. - Organizational developments
      • Table Tapestry, Inc. - Geographic focus
      • Table Tapestry, Inc. - Segment focus
      • Table Tapestry, Inc. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
  • Explore Technavio

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