Travel and Business Bags Market in India 2015-2019
About Travel and Business Bags Market in India
The travel and business bags market in India is expected to post a rapid growth during the forecast period. The growth is driven by an increase in travel and tourism activities, and rising number of business travelers, leading to a surge in demand and subsequent sales of travel and business bags in the country.
The travel and business bags market in India has five segments: Backpacks, business bags, duffel bags, suitcases, and trolley bags. The trolley bags segment dominated the travel and business bags market in India, in terms of volume; while duffle bags led the market in terms of revenue in 2014.
Technavio predicts that the travel and business bags market in India will grow at a CAGR of 15.49% and 13.31%, in terms of revenue and volume respectively, during 2014-2019.
Covered in this Report
This report provides an overview of the travel and business bags market in India and an in-depth analysis of the product usage in the market. The report considers 2014 as the base year.
The report also presents the vendor landscape and a corresponding detailed analysis of the seven major vendors in the market.
Technavio Announces the Publication of its Research Report – Travel and Business Bags Market in India 2015-2019
Technavio recognizes the following companies as the key players in the Travel and Business Bags Market in India: Delsey, Louis Vuitton, Safari Industries, Samsonite International, VIP Industries and Wildcraft India
Other Prominent Vendors in the market are: Adidas, Amazonlife, Aldo, Alfred Dunhill, Boconi, Bottega Veneta, Caribee, Donna Karan International (DKNY), Ferrari, Gianni Versace, IT Luggage, Lulu Guinness, Mandarina Duck, Pierre Cardin, Prada, Puma, Ralph Lauren, River Island, Russell & Bromley, TOD's and Wenger
Commenting on the report, an analyst from Technavio’s team said: “The increased use of social media by consumers has made it integral to marketing campaigns. For travel bag retailers in India, the platform provides instant brand visibility and access to a huge potential consumer base. India is one of the most socially engaged markets in the world, and social media will become an essential tool with which to engage shoppers. Baggit takes advantage of this by preparing a monthly plan consisting of around 15 to 20 posts that help the company build brand awareness, engage customers, and launch their latest collections. The company also allocates 10% of its budget to digital marketing. Many manufacturers and retailers use social networking sites to gain a marketing and sales advantage over their rivals. Retailers come up with innovative ways to influence consumers' purchasing decisions, such as social shopping and social commerce. Da Milano, one of the early adopters of social media marketing, created a Send Diwali Greetings app that was built to send greetings via facebook.”
According to the report, urban consumers contribute to a large part of the sales of travel bags in India as they are brand-conscious and prone to impulse buying because they have high disposable income. As incomes rise, consumption patterns also shift in favor of organized retail formats that offer lifestyle and entertainment enhancements. These consumers also have access to many channels of advertising and communication, and often search multiple retail channels before making purchase decisions. Many of them have little time at their disposal and prefer shopping through the Internet.
Further, the report states that a significant challenge being faced by vendors is the continuing competition from the unorganized sector, especially traditional mom-and-pop shops.
Delsey, Louis Vuitton, Safari Industries, Samsonite International, VIP Industries, Wildcraft India, Adidas, Amazonlife, Aldo, Alfred Dunhill, Boconi, Bottega Veneta, Caribee, Donna Karan International (DKNY), Ferrari, Gianni Versace, IT Luggage, Lulu Guinness, Mandarina Duck, Pierre Cardin, Prada, Puma, Ralph Lauren, River Island, Russell & Bromley, TOD's, Wenger