Travel and Business Bags Market in Germany 2015-2019
About Travel and Business Bags Market in Germany
Travel bags are considered to be a non-essential product, so the expenditure on this industry is suspected to vary in times of economic decline, when consumers often delay the purchase of non-essential products. The arrival of numerous brands and their easy availability through retail stores and online retail channels has increased the demand for travel bags among consumers in Germany. A rise in travel traffic has increased the sales of travel and business bags. The travel and business bags market in Germany was dominated by the duffle bags segment both in terms of volume and revenue in 2014.
Technavio's analysts forecast the travel and business bags market in Germany, in terms of revenue and volume to grow at a CAGR of 2.15% and 1.49%, respectively, over the period 2014-2019.
Covered in this Report
This report provides an overview of the travel bags market in Germany, and in-depth analysis of usage of the product in the market. The report considers 2014 as the base year and forecasts the market value to 2019.
The travel and business bags market in Germany can be segmented into five segments: Backpacks, business bags, duffle bags, suitcases, and trolley bags.
The report also presents the vendor landscape and a corresponding detailed analysis of the 10 major vendors in the market.
Technavio Announces the Publication of its Research Report – Travel and Business Bags Market in Germany 2015-2019
Technavio recognizes the following companies as the key players in the Travel and Business Bags Market in Germany: Braun Buffel, BREE Collection, Delsey, Globe-Trotter, Hermès International, Hugo Boss, Mode Creation Munich (MCM), Rimowa, Samsonite and VF
Other Prominent Vendors in the market are: Adidas, Amazonlife, Anyvention, Aldo, Alfred Dunhill, Boconi, Bottega Veneta, Cambridge British Satchel Company, Caribee, Donna Karan International (DKNY), Ferrari, Gianni Versace, it luggage, Jany Luggage, Lulu Guinness, Mandarina Duck, Pierre Cardin, Prada, Puma, Ralph Lauren, Real Deal, River Island, Russell & Bromley, TOD's and Wenger
Commenting on the report, an analyst from Technavio’s team said: “Aggressive marketing, pricing, and customer acquisition tactics are driving sales through e-commerce in Germany. Fashion apparels and goods including travel bags are experiencing the highest online growth in the country. Many travel bag manufacturers as well as retailers have thus entered this segment offering a variety of brands and designs through online portals. As a result, sales of travel bags through online stores are increasing, which will have a positive influence on the growth of the market during the forecast period.”
According to the report, Germany is one of the most popular countries for high-quality leather product manufacturing. Many leather travel bag manufacturers are gaining respect and acclaim for their leather travel bags nationally as well as internationally. The country has proven its perfection in manufacturing leather goods for years and is still proving this by manufacturing the finest designs and styles in leather goods, including travel bags. Many local brands and manufacturers, such as Bodenschatz that manufactures leather bags and clutches, are popular in the country for their exclusive leather travel bag collections. The popularity of leather bags made in Germany helps in promoting both large as well as small-sized Germany-based manufacturers and their products, influencing the market positively.
Further, the report states that one of the main challenges hindering the growth of the market is the increasing competition from counterfeit or fake products.
Braun Buffel, BREE Collection, Delsey, Globe-Trotter, Hermès International, Hugo Boss, Mode Creation Munich (MCM), Rimowa, Samsonite, VF,Other Prominent Vendors, Adidas, Amazonlife, Anyvention, Aldo, Alfred Dunhill, Boconi, Bottega Veneta, Cambridge British Satchel Company, Caribee, Donna Karan International (DKNY), Ferrari, Gianni Versace, it luggage, Jany Luggage, Lulu Guinness, Mandarina Duck, Pierre Cardin, Prada, Puma, Ralph Lauren, Real Deal, River Island, Russell & Bromley, TOD's, Wenger
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook