Moda
Luxury Handbag Market to Reach $89.9Bn, Globally, by 2026 at 5.6% CAGR: Allied Market Research
Rise in online retail of luxury handbag and development in emerging economies fuel the growth of the global luxury handbag market. On the other hand, high taxation and import duties on luxury goods restrain the growth to some extent. However, development in social media marketing is expected to create multiple opportunities in the near future.
https://www.alliedmarketresearch.com/request-sample/6362
The luxury retail industry has taken a big hit since the Covid-19 outbreak, especially the used clothes and accessories start-ups.
The Covid-19 pandemic has changed consumer behavior, demand,and purchasing pattern. Thus, major market players in the industry have to reevaluate and rethink marketing strategies to attract customers.
Several luxury handbags companies such as Gucci have increased prices of their products to curb Covid-19 impacts on the company's revenue.
Based on type, the handbag segment contributed to more than half of the global luxury handbag market share in 2018, and is expected to retain its dominance by the end of 2026. Factors such as emergence of young populace, increase in disposable income, rise in number of working women, and surge in affordability of luxury products are expected to propel the growth of the segment. Simultaneously, the wallet segment would cite the fastest CAGR of 7.00% during 2019–2026. Manufacturers are now launching different kinds of designer wallets and specialized editions for the same, and this factor is attracting the customers from all over the world, thereby boosting the segment growth.
By distribution channel, the specialty stores segment held the major share in 2018, generating more than half of the global luxury handbag market. Increase in affluent population in emerging countries such as China has driven the growth of the segment. At the same time, the online stores would grow at the fastest CAGR of 14.4% till 2026, owing to rise in internet penetration across the globe.
Based on geography, Europe accounted for more than one-third of theglobal luxury handbag market revenue in 2018, and is anticipated to rule the roost by 2026. This is because the European market presents attractive opportunities for the consumer goods sector. The region across Asia-Pacific , on the other hand, is projected to showcase the fastest CAGR of 8.2% during the estimated period. Demographics, reduction of productivity and rise of the digital economy impact the long-term growth of the Asia-Pacific luxury handbag market.
https://www.alliedmarketresearch.com/purchase-enquiry/6362
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
https://www.alliedmarketresearch.com/avenue/trial/starter
https://www.alliedmarketresearch.com/library-access
Travel Retail Market : Global Opportunity Analysis and Industry Forecast, 2018–2025
Functional Apparel Market : Global Opportunity Analysis and Industry Forecast, 2019–2026
Dating Services Market: Global Opportunity Analysis and Industry Forecast, 2019–2026
Luxury Footwear Market: Global Opportunity Analysis and Industry Forecast, 2019–2026
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
+44-845-528-1300
+852-301-84916
+91-20-66346060
+1(855)550-5975
help@alliedmarketresearch.com
https://www.alliedmarketresearch.com
https://www.linkedin.com/company/allied-market-research
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg