Naperville, IL -- (SBWIRE) -- 05/04/2015 -- Reportstack, provider of premium market research reports announces the addition of Handbags Market in Italy - Smart Trends, Analysis and Forecast 2015-2019 market report to its offering
Competitive Market Scenario: Handbags Market in Italy:
The Handbags Market in Italy is dominated by large multinational handbag manufacturers such as Dolce & Gabbana, Chanel, TOD's, Furla, Prada, Gucci, and LV. However, the influx of private labels in the market is also on the rise.
There are brands that are more specialized than others in certain product segments. These vendors compete on a number of factors such as price, quality, innovation, service, reputation, distribution, product offerings, and promotional activities. With technological advances, the top brands have become adept at product innovation. Marketing strategies are largely aimed at outdoing competitors by making their products obsolete or “out of fashion”.
The Handbags market in Italy is expected to grow at a negative CAGR of close to -1.60 percent during the forecast period.
Concerns Involving the Handbags Market and Solution Offered:
Handbags Market in Italy is impacted by changing consumer tastes and spending patterns. The market is characterized by intense competition that’s resulting in a rapid change in industry standards, and business models. Therefore, to survive and succeed in this competitive environment, companies are spending more on distinguishing service offerings through clear and unique selling propositions. Such intensified competition is expected to result in the reduction of the prices of handbags in the forecast period.
Another growing concern that would determine the growth of the Handbags Market in Italy is the presence of imitation handbag brands in the market. With increasing fragmentation, the market is expected to experience an uneven competitive scenario. To tackle this situation, companies are investing heavily in marketing and promoting their products. Leading brands are taking concrete steps to increase brand relevance and consumer engagement to guide them back to the stores.
Market Segmentation of the Handbags Market by Products:
Purses and Wallets
Saddles and Satchels
While the Totes segment dominated the market in 2014, it is expected to witness a decline in the market share during the forecast period.
Market Segmentation of the Handbags Market by Distribution:
Hypermarkets and supermarkets
Specialty Stores segment dominated the Handbags market in Italy in 2014. Specialty stores include both organized as well as unorganized retailers who sell luggage and handbags and related accessories exclusively. The segment includes large company-owned outlets such as Louis Vuitton and Prada showrooms, as well as small independent retailers selling multiple brands as well as non-branded bags. Specialty stores carry either a large set of brands or different variety of one brand under one roof, giving them an edge over other distribution channels.
Other Prominent Vendors in the Handbags Market in Italy:
Other prominent vendors include Adidas, Aldo, Alfred Dunhill, Aspinal of London, Boconi, Bottega Veneta, Buggatti, C & J Clark International, Cambridge British Satchel Company, Christin Dior, Coach, Crew Clothing, DKNY, Ferrari, Fossil, French Connection, Gianni Versace, Goyard, GUCCI, Guess, Gerard Darel, Iconix Brand Group, Calabrese, Jerome Dreyfuss, Kenneth Cole Productions, L.Credi, La Petite Mendigote, Lipault Paris, Longchamp, Lulu Guinness, Mandarina Duck, McKlein, Mulberry, New Look Retailers, Nicole Lee, Paul Costelloe, Paul Smith, Prada, PUIG, Puma, Ralph Lauren, River Island, Russell & Bromley, Smythson, TLG, Vanessa Bruno and VF.
Other Sections of the Report Include an Analysis on the Following:
Market Size and Revenue Forecast of the Handbags Market in Italy
Key Drivers and their Impact on the Handbags Market in Italy
Key Challenges and their Impact on the Handbags Market in Italy
Key Trends and their Impact on the Handbags Market in Italy
Five Forces Analysis of the Handbags Market in Italy
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Complete report is available