New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/21/2015 -- Towards the end of the review period, the German economy performed very well, boosting average disposable income levels and promoting expenditure on travel and tourism and retailing. All of these trends were favourable for sales of bags and luggage during 2014 as growing demand, especially for high-quality products with high levels of functionality and sophistication and products with interesting and individual designs, brought positive volume and value growth to the category. Sports bags and backpacks with clever designs numerous and compartments for easy access to items stored within them remained especially popular among fitness enthusiasts, especially those interested in order to outdoor activities such as hiking and skiing. Purses and wallets with similarly practical features and designs and additional linings which can protect chip cards from RFID attacks as well as luxurious designs is also growing among German women and men of all ages and income levels, thereby increasing overall value and volume growth in bags and luggage towards the end of the review period.
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During 2013, VF Europe BVBA, the European branch of US-based global consumer goods manufacturer VF Corp, led bags and luggage in Germany with a value share of 9%. The company?s leading position is due to the recent merger of several large, popular and formerly independent brands under one parent company. In addition to achieving the leading position in banks and luggage during 2014, VF Europe is also taking advantage of numerous synergies and benefits of its very wide range of brands in the category, including the high level of consumer recognition and popularity of its brands in the category such as Jansport and Eastpak. In addition, the functional and durable nature of the company?s products resonate well among German consumers and this has supported strong growth for the company and its several brands in the category for many years.
As bags and luxury generally rapidly approaches maturity and saturation, the 1% volume CAGR expected in the category over the forecast period is set to be commensurate with the 1% volume CAGR registered in the category over the review period, while volume growth is expected to be slower in constant 2014 terms. Strong competition in what remains a fairly fragmented competitive environment is set to promote the greater use of price discounting as well as the trend toward the use of less expensive materials and these trends expected to result in a gradual decline in the average unit price of bags and luggage over the forecast period, as well as contributing to the general slowdown in value growth in the category over the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Bags and Luggage industry in Germany 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 Germany, our research will save you time and money while empowering you to make informed, profitable decisions.
The Bags and Luggage in Germany 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?
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