Fast Market Research recommends "Bags and Luggage in Australia" from Euromonitor International, now available
Boston, MA -- (SBWIRE) -- 12/09/2014 -- The rise of digital technology has given rise to the demand for bags with increased functionality as consumers look to store their extra items such as smartphones, tablets, e-readers and USB sticks. Bag companies and manufacturers have catered to this demand, producing bags with specialised internal pockets, protective laptop and document sleeves. Quality, longevity and durability were important factors in purchasing decisions and consumers were willing to invest heavily in these goods. Bags and luggage achieved the strongest performance of all personal accessories categories in 2014, increasing by 4% in current value terms.
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Strandbags Group led sales of bags and luggage in 2013, holding retail value share of 8%. Strandbags is one of Australia?s largest specialist retailers and benefits from a strong retail footprint, with over 300 stores nationwide. Strandbags is present within bags through the Bluebird, Cabrelli, Equip and Valenti brands and within luggage through its Lanza brand. Standbags Group is also present in costume jewellery in Australia through its Equip brand, which held 1% retail value share in the category in 2013. Strandbags became one of the first retailers to trial the Commonwealth Banks? mobile point-of-sale system in 2013. The system removes the need to line up to purchase a product by allowing consumers to pay on a smartphone or tablet featuring a payment chip reader and barcode scanner.
Affordable luxury brands are expected to drive sales of bags and luggage over the forecast period as consumers look for a taste of luxury at a more favourable price point. Affordable and accessible luxury brands threaten the sales of higher-end luxury bags, and companies may reassess their pricing structures as a result of consumer demand. Australian luxury brand Oroton reviewed its pricing architecture in the latter half of 2013, acknowledging the demand for bags in the A$1,500 range as well as for bags priced at A$195.
Discover the latest market trends and uncover sources of future market growth for the Bags and Luggage industry in Australia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Bags and Luggage industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Bags and Luggage in Australia market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- How are sales of Travel Goods expected to perform by 2014?
- What impact does outbound and domestic tourism have on the sales of luggage?
- What share of the market do Leisure and Personal Goods retailers account for?
Reasons to Get This Report:
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
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