COVID-19 Recovery Analysis: Luxury Handbags Market | Focus on Product Premiumization to boost the Market Growth | Technavio

Technavio has been monitoring the luxury handbags market and it is expected to post a decremental growth of USD 0.17 billion during 2020-2024. However, the market will progress at a CAGR of almost 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a Negative and Inferior impact on the luxury handbags market. The market growth in 2020 is likely to Decrease compared to the market growth in 2019.

Frequently Asked Questions:

• Based on segmentation by distribution channel, which is the leading segment in the market?

• The offline segment is expected to be the leading segment based on distribution channel in the global market during the forecast period.

• What are the major trends in the market?

• Increasing demand for convertible handbags is one of the major trends in the market.

• Who are the top players in the market?

• Burberry Group Plc, CHANEL Ltd., Compagnie Financière Richemont SA, Dolce & Gabbana Srl, Hermès International, Kering SA, LVMH Moet Hennessy - Louis Vuitton, PRADA Group, Ralph Lauren Corp., and Tapestry Inc. are some of the major market participants.

• What are the key market drivers and challenges?

• Focus on product premiumization is one of the major factors driving the market. However, the presence of counterfeit products restraints the market growth.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Burberry Group Plc, CHANEL Ltd., Compagnie Financière Richemont SA, Dolce & Gabbana Srl, Hermès International, Kering SA, LVMH Moet Hennessy - Louis Vuitton, PRADA Group, Ralph Lauren Corp., and Tapestry Inc. are some of the major market participants. The focus on product premiumization will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this luxury handbags market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Luxury Handbags Market 2020-2024: Segmentation

Luxury Handbags Market is segmented as below:

• Distribution Channel
  • Offline
  • Online
• Geography
  • Europe
  • North America
  • APAC
  • MEA
  • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44325

Luxury Handbags Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The luxury handbags market report covers the following areas:

• Luxury Handbags Market Size
• Luxury Handbags Market Trends
• Luxury Handbags Market Analysis

This study identifies increasing demand for convertible handbags as one of the prime reasons driving the luxury handbags market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.

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Luxury Handbags Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist luxury handbags market growth during the next five years
• Estimation of the luxury handbags market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the luxury handbags market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of luxury handbags market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Distribution channel

• Market segments
• Comparison by Distribution channel
• Offline - Market size and forecast 2019-2024
• Online - Market size and forecast 2019-2024
• Market opportunity by Distribution channel

Customer Landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Burberry Group Plc
• CHANEL Ltd.
• Compagnie Financière Richemont SA
• Dolce & Gabbana Srl
• Hermès International
• Kering SA
• LVMH Moet Hennessy - Louis Vuitton
• PRADA Group
• Ralph Lauren Corp.
• Tapestry Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

   

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