Global Shoulder Bags Market 2015-2019
About Shoulder Bags
Shoulder bags have become the most desirable fashion accessory after shoes and are now considered as status symbols. Consequently, the demand for luxury and premium handbags is gaining popularity as they create an individual identity. Shoulder bag manufacturers are implementing innovative strategies to cater to the changing consumer demography and preferences, such as demand for environment-friendly handbags. Designer bags exclusively for men are also gaining popularity.
Technavio's analysts forecast the global shoulder bags market, in terms of revenue and volume, to grow at CAGRs of 5.53% and 5.08%, respectively, over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global shoulder bags market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the retail sales of shoulder bags, in terms of revenue and volume.
Technavio's report, Global Shoulder Bags Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It also covers the global shoulder bags market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Regions
Technavio Announces the Publication of its Research Report – Global Shoulder Bags Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Shoulder Bags Market: Burberry Group plc, Chanel SA, Coach Inc., Hermès International SA, Kate Spade, LVMH, Michael Kors, Mulberry, Prada, Ralph Lauren and Tory Burch
Other Prominent Vendors in the market are: Adidas, Aldo, Alfred Dunhill, Boconi, Bottega Veneta, Buggatti, C & J Clark International, Cambridge British Satchel, Crew Clothing, Dolce & Gabbana, Donna Karan International (DKNY), Ferrari, Fossil, French Connection, Goyard, Guess, Gerard Darel, Jerome Dreyfuss, Kenneth Cole Productions, L.Credi, La Petite Mendigote, Lipault Paris, Longchamp, Lulu Guinness, Mandarina Duck, MARUFUKU SHOTEN (Bags, Wallets), McKlein, New Look Retailers, Nicole Lee, Paul Costelloe, Paul Smith, PUIG, Puma, Ralph Lauren, River Island, Russell & Bromley, Smythson, TLG Brands, Vanessa Bruno, VF and WITH (Leather Goods, Bags, Stationery)
Commenting on the report, an analyst from Technavio’s team said: “A key trend driving sales in the market is the introduction of value-added and innovative products by vendors. Vendors are continuously trying to innovate with their product offerings in terms of design, color, shape, and weight to meet the varied needs of consumers.”
According to the report, high demand for shoulder bags, increasing disposable income, increasing demand for affordable luxury bags, and rising e-commerce are driving growth in the market. The demand for affordable luxury bags is likely to increase because of the changing demographics and consumer behavior. Brands such as Coach, Michael Kors, LVMH, Chanel, D&G, Prada, Gucci, and Christian Dior are popular among consumers.
Further, the report states that one of the challenges hindering the growth of the market is the increasing competition from counterfeit or fake products. The easy availability of a number of inexpensive handbag brands in the market is leading to market fragmentation, resulting in a lack of price standardization, an uneven competitive scenario, and market share erosion.
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