United States Handbags (Totes, Shoulder Bags, Purses and Wallets, Satchels and Saddles) Market 2015-2019

The analysts forecast the Handbags market in the US, in terms of revenue and volume, to grow at CAGRs of 5.9% and 5.29%, respectively, over the period 2014-2019.

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 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. The Handbags market in the US was dominated by Purses and Wallet segment in 2014 in terms of revenue and volume.

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.

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