“The change in perception of bags and luggage among Indian Consumers from mere commodity to a fashion accessory and status symbol is becoming more prevalent therefore, leading to surge in demand for personalized products among Indian households.”
Over the past few years, consumers have always separated luggage-bags from fashion and considered it a mere commodity whereas now, Indians have started accepting it as style accessory. As a result, manufacturers are working particularly hard towards completely changing this perception. Well-established brands such as VIP Industries, Samsonite and Safari industries are in cut-throat competition with new entrants such as Da Milano, Hidesign and others who are trying to establish a strong foothold within the Indian industry. Rising businesses as well as leisure trips coupled with the surge in total disposable income have collectively led to increased demand for luggage and bags especially among the organized retailers which constitute high end showrooms i.e. exclusive brand outlets or multi-brand outlets and other hyper market chains which sell branded luggage, bag and other travel gear accessories. Within this category, the demand for brand names has grown, as consumers aspire for goods that count as status symbols / lifestyle choice.
The report titled “India Luggage and Bags Market Outlook to 2025- Growth in Outbound & Domestic Tourists Coupled with Inclination Towards Branded Luggage Supporting Market Growth)” by Ken Research suggested that the luggage and bags market is further expected to grow in future majorly due to product distribution via online portals, fragmented space and investment in smart luggage product segment. The market is expected to register a positive six year CAGR of 10.3% and 10.2% in terms of revenue and sales volume respectively during the forecast period 2019P-2025F.
Modern retailing and new fashion trends have also been driving the sale of casual and travel luggage bags in the country. From high fashion brands to runway collections, bag trends have been gaining traction from newly launched beaded bags to old fashioned or classic baguettes. Some of the highlights include miniature, net and bucket bags.
When modern retailing is taken into consideration, Indians have started preferring E-commerce channel for a better shopping experience alongside convenience. Luggage has been primarily purchased through traditional concept of brick and mortar stores comprising of dealer outlets, company-owned-company-operated stores and franchises, hypermarket chains and others. Online portals provide real time unbiased feedback of a product which aids a customer in making an informed choice while purchasing the product. Many online customized players have started offering personalizing options wherein the suitcase has an approved security lock, 4 wheels for easy travel and printed with the customer’s photos or design. Apart from that, this channel is also known for offering high discounts throughout the year in order to lure in more customers.
Key Segments Covered:-
Market Structure
Unorganized Market
Organized Market
Product Type
Bags
Handbags
Backpacks
Duffel Bags
Wallet and Coin Pouches
Cross Body Bags
Business Bags
Other Small Bags (Jute Bags, Bags for Daily Usage and Bags for Small Purpose)
Luggage
Soft Luggage
Hard Luggage
Wheeled Luggage
Non-Wheeled Luggage
Price Category
Luggage Price Category (Mass Segment, Premium Segment and Luxury Segment)
Handbag Price Category (Mass Segment, Premium Segment and Luxury Segment)
Backpack Price Category (Mass Segment, Premium Segment and Luxury Segment)
Duffel Bag Price Category (Mass Segment, Premium Segment and Luxury Segment)
Region
North
Delhi
Ghaziabad
Uttarakhand
Other Northern Cities
South
Bangalore
Hyderabad
Cochin
Other Southern Cities
East
Kolkata
Patna
Cuttak Orissa
Other Eastern Cities
West
Mumbai
Ahamdabad
Indore
Other Southern Cities
Distribution Channel:-
Bags and Luggage Specialist Retailers
Hypermarkets
Internet Retailing
Department Stores
Apparel and Footwear Specialist Retailers
Stationers / Office Supply Stores
Other Non-Grocery Specialists
Homeshopping
Key Target Audience:-
Luggage Manufacturers
Bags Manufacturer
Retailers and Distributors
Time Period Captured in the Report:-
Historical Period: 2013-2019P
Forecast Period: 2019P–2025F
Companies Covered:-
VIP Industries Ltd
Samsonite International SA
Safari
LVMH Moët Hennessy Louis Vuitton SA
Wildcraft India Pvt Ltd
Hermès International SCA
Kering SA
Hidesign India Pvt Ltd
Da Milano India
Baggit Ltd
Burberry Group Plc
Bagzone Lifestyles Pvt Ltd
Tommy Hilfiger
Others (Salvatore Ferragamo SpA, Khadimm India Ltd, Leather Line, Richemont SA, Cie Financiere, Adidas Group, PPR SA, Titan Industries Ltd, Shoppers Stop Ltd, VF Corp, Harrisons Worldwide Pvt Ltd, Case Logic Inc, Giordano International Ltd and Rest)
For More Information on the research report, refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
