Handbags Market in the US 2015-2019
About Handbags Market in the US
The Handbags market in the US is witnessing steady growth and is expected to grow at a steady rate during the forecast period. The demand for handbags is rising in the US with the growing demand for affordable luxury handbags coupled with the onset of brands such as Michael Kors, Kate Spade, Marc Jacobs, Ralph Lauren, Coach, and Tory Burch. The arrival of numerous brands and their easy availability through retail stores and online retail channels increased the demand for handbags among consumers in the US. The Handbags market in the US was dominated by Purses and Wallet segment in 2014 in terms of revenue and volume.
TechNavio's analysts forecast the Handbags market in the US, in terms of revenue and volume, to grow at CAGRs of 5.90 percent and 5.29 percent, respectively, over the period 2014-2019.
Covered in this Report
The Handbags market in the US can be segmented into four: Totes, Shoulder Bags, Purses and Wallets, Satchels and Saddles. The Totes was the largest segment in terms of revenue and accounted for approximately 30 percent of the market in 2014.TechNavio's report, the Handbags Market in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the landscape of the Handbags market in the US and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Vendors
Technavio Announces the Publication of its Research Report – Handbags Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the Handbags Market in the US: 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: Actual, Artifact Bag, AU, BAGGU, BAGSTIL, Blair Ritchey, Brynn Capella, Burrow & Hive, Calleen Cordero, cinda b, Holly Aiken, ITZALULU, J.W. Hulme, LexiWynn, Lola Falk, MaddyMoo, Merci-Fortune, Michelle Vale, Noubar, Oak73, Rebecca Ray Designs, SEA BAGS, Stone Mountain, The Frye, Tori Nicole and Victoria Leather
Commenting on the report, an analyst from Technavio’s team said: “One major trend emerging in this market is the increasing disposable income among consumers. With the rise in disposable income consumers are spending more on affordable luxury products than on premium luxury products.”
According to the report, online retailing is another key reason for the high consumption and sales of handbags in the country. Internet penetration is increasing in the US and is fueling demand for e-commerce. Aggressive marketing, pricing, and customer acquisition tactics are driving sales through e-commerce in the US.
Further, the report states that a major challenge faced by the market is the increased competition from local brands. The easy availability of a number of cheap handbag brands in the market is leading to market fragmentation, resulting in lack of price standardization, uneven competitive scenario, and market share erosion.
Burberry, Chanel, Coach, Hermes International. , Kate Spade, LVMH, Michael Kors, Mulberry, Prada, Ralph Lauren, Tory Burch, Actual, Artifact Bag , AU, BAGGU, BAGSTIL, Blair Ritchey, Brynn Capella, Burrow & Hive , Calleen Cordero , cinda b , HollyAike, ITZALULU, J.W. Hulme Company, LexiWynn, Lola Falk, MaddyMoo, Merci-Fortune, Michelle Vale, Noubar, Oak73, Rebecca Ray Designs , SEA BAGS, Stone Mountain, The Frye , Tori Nicole, Victoria Leather