Handbags form important add-ons completing the wardrobe of ladies for ages. However, in the present scenario, handbags are not only used for their utilities, but they have now-a-days become a fashion statement for women. China is the largest exporter and US is the largest importer of travel goods, handbags and other similar items worldwide.
The US is the largest consumer of handbags worldwide and occupies a very significant share in the global handbags market. Handbags in the US represent around one-third of share in the overall women’s accessories market, in value terms. Owing to sluggish economic conditions, the US handbag market had shown decline in the past three years. However, with the recovering economy, the handbags demand also recovered in 2011, and is likely to witness in the coming years as well.
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Increasing trend of online shopping has facilitated the growth of handbags market as this mode proves out to be convenient to the consumers. Some other factors driving the growth of handbags market in the coming years include the growth of High Net Worth Individuals (HNWI), growing income and increasing level of employment worldwide. As innovation provides spark to every industry, similarly innovation and creativity has become a major trend in the handbags industry. Handbags with LEDs (Light Emitting diodes) and handbags utilizing solar energy to power small electronic devices are some such examples.
With a number of players operating in the handbag industry, the global handbags market is quite fragmented. Since the pool of customers for handbags is quite huge, the potential in this sector attracts more and more customers, which further intensifies the level of competition. Among all, Coach Inc. remains an undisputed leader in the handbags market worldwide.
The present report titled “Global Handbags Market: 2012 Edition” discusses the global market for luxury handbags, as well as trade of handbags worldwide. The report presents a detailed analysis of the US handbag market, discussing the key trends in the regional market and trade. Following this, the report presents one other major handbags market, the European Union. The key points discussed include the production of handbags, sales, pricing trend, and trade statistics. Also, the report presents a short discussion on one of the emerging handbag market, the Asia Pacific. The report analyzes some of the major drivers as well as trends prevailing in the global handbags market. Three major players operating in the handbags industry worldwide are profiled, focusing on their business, financials and growth strategies.
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