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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