Boston, MA -- (SBWIRE) -- 01/23/2015 -- Retail value growth of bags and luggage decelerated slightly in 2014 compared to the previous year, mainly due to the continuous economic slowdown. Consumers became more conservative and price-sensitive in allocating their spending, especially when purchasing products of non-necessity, such as bags and luggage, under the less favourable economic conditions. As a result, many brands especially those owned by domestic manufacturers, such as Powerland Group, had to introduce a series of marketing campaigns and promotions, such as frequent discounting activities, in order to attract consumers and stimulate sales.

Competitive Landscape

LVMH Fashion (Shanghai) Trading Co Ltd retained its leading position in the highly fragmented bags and luggage market in China, with a retail value share of 5% in 2013. This was mainly attributed to its high brand awareness through extensive advertising and marketing activities as well as its extremely high pricing. Moreover, it expanded its distribution network rapidly, with 47 boutiques across the country in 2013. However, the anti-corruption policies and growth in overseas purchases, together with the sluggish economy, led to decelerating growth in 2013 compared with the review period.

View Full Report Details and Table of Contents

Industry Prospects

Bags and luggage is expected to register a CAGR of 6% at constant value over the forecast period, decelerating compared with the review period. In addition to the uncertain economic outlook in China, the growing maturity of the market, after years of robust growth in the review period, is predicted to drag down the overall growth momentum of bags and luggage. Mass consumers are also projected to be more conservative when it comes to unnecessary consumption, such as bags and luggage, although some middle-class and affluent people are likely to trade up thanks to their rising incomes.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Bags and Luggage industry in China 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 China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Bags and Luggage in China 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

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 800-844-8156

Browse all Consumer Goods research reports at Fast Market Research

You may also be interested in these related reports:

- Bags and Luggage in Malaysia
- Bags and Luggage in Singapore
- Bags and Luggage in the United Kingdom
- Bags and Luggage in Japan
- Bags and Luggage in Turkey