Boston, MA -- (SBWire) -- 11/18/2014 --The consumer demand for bags and luggage declined due to market saturation. In addition, the economic crisis in neighbouring European countries and the global economies made the Swiss cautious in their spending habits although the Swiss economy continued to be stable. Moreover, the bad weather in spring served to amplify the situation.
Competitive Landscape
The competitive landscape of bags and luggage remained fragmented with the five leading companies having a value share of only 31%. Leading domestic companies, foreign multinationals as well as a large number of importers, agents and small and medium sized players all target the category. There is stiff competition and the leading manufacturers focused exclusively on the lucrative upper end and adopted well-defined product and marketing strategies based on their target consumers as a recipe for success.
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Industry Prospects
The market saturation and the decline in retail prices in bags and luggage are expected to continue and consequently, the sales value is expected to decline by 7% at constant 2014 prices, over the forecast period. The adjustment process the retail industry in Switzerland is undergoing at present in order to develop a competitive edge against the retailers in neighbouring EU countries, such as Germany, France and Italy, will continue also in the forecast period. This will not only include sinking retail prices but also the closing down of a large number of unprofitable retail outlets that contribute to the saturation of the market place.
Report Overview
Discover the latest market trends and uncover sources of future market growth for the Bags and Luggage industry in Switzerland with research from Euromonitor's team of in-country analysts.
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The Bags and Luggage in Switzerland market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
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- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
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Bags and Luggage in Switzerland - New Study Released
Fast Market Research recommends "Bags and Luggage in Switzerland" from Euromonitor International, now available