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Albany, NY -- (SBWIRE) -- 12/30/2015 -- South Koreas luggage and leather goods retail market is expected to be the sector with healthy growth during the forecast period. The retail market for luggage and leather goods will witness a CAGR of 8.5% over 20142019, to reach KRW3,001 billion by 2019. Per capita spending on luggage and leather goods in South Korea is also anticipated to grow at a CAGR of 8% over the next five years.
Luggage and leather goods sales accounted for a marginal share of 0.7% of the total retail sales in 2014.
Commanding a 32.7% share of the overall sales in the segment, specialist retailers dominate the luggage and leather goods market in South Korea.
Online is the fastest-growing channel in the luggage and leather goods category.
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Luggage and Leather Goods Retailing in South Korea Market Summary & Forecasts is a detailed sector report providing a comprehensive analysis of the emerging trends, forecasts and opportunities to 2019.
What else does this report offer?
A thorough analysis of consumer trends changing economic and population factors
Both qualitative and quantitative insights and analysis of the shifting luggage and leather goods retail dynamics from 2009 to 2019
Sales of luggage and leather goods through the following channels from 2009 to 2019: Department stores; other specialist retailers; online; hypermarkets, supermarkets and hard-discounters; value, variety stores and general merchandise retailers; other general and non-specialist direct retailers; cash and carries and warehouse clubs; duty free retailers; clothing, footwear, accessories and luxury goods specialists
An overview of key luggage and leather goods retailers operating across South Korea and their presence across distribution channels
Gain a comprehensive knowledge on luggage and leather goods sector in the South Korea retail market and develop a competitive advantage from the start of your supply chain
Investigate current and forecast behaviour trends in luggage and leather goods category to identify the best opportunities to exploit
Analyze the recommended actions to align your marketing strategies with the crucial trends influencing the consumer behavior
Understand the fastest growing categories including luggage and leather goods, with insights on performance across key channels from 2009, with forecasts until 2019
Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer and technology trends influencing the luggage and leather goods market
Analysis of key international and domestic players operating in the luggage and leather goods market including store counts and revenues that give you a competitive edge - identify opportunities to improve your market share
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Table of Contents
1.1 What is this Report About?
2 Executive Summary & Outlook
3 Market Context
3.1 Steady economic factors to benefit retailers
3.1.1 South Koreas export-reliant economy is at cross roads
3.1.2 Steady rise in savings rate is a concern for retailers
3.1.3 Services sector continues to be the major sector for employment
3.1.4 Low inflation levels to benefit retailers
3.1.5 Rise in consumption expenditure- a positive sign to reckon with
3.1.6 Increasing urbanization offers growth opportunities for retailers
3.2 Aging population pose challenges for retailers
4 South Korean Shoppers
4.1 Retailers adopting omnichannel strategies to increase their customer base
4.2 Surge in m-commerce with the rise in smartphone ownership and mobile internet penetration
4.3 Increasing adoption of private label brands threatens national brands
4.4 Social commerce is on exponential rise in South Korea
4.5 Luxury retailers are targeting affluent locals
4.6 Herd consumption behavior rampant in South Korean society with the desire for self-satisfaction growing among single workers
4.7 Increasing number of international tourists contributing to retail sales
5 Doing Business in South Korea
5.1.2 Business culture
5.1.3 Infrastructure and logistics
5.2 Business reforms in South Korea in the recent past
5.3 Korea eases rules for foreign investors
6 Retail Product Sectors
6.1 Product Sector Analysis
6.1.1 Luggage and Leather Goods
6.2 Luggage and Leather Goods Category Overview
6.2.1 Luggage and Leather Goods
6.3 Major Retailers
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