Bags and Luggage in Western Europe

  • ID: 4210107
  • Report
  • Region: Europe, Western Europe
  • 41 pages
  • Euromonitor International
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Sales of bags and luggage in Western Europe were hit by the impact of terrorism on sales of luxury handbags, but things are looking brighter, with the return of Asian tourists to forsaken destinations. Conversely, local consumers are fuelling demand for affordable handbags, luggage and backpacks. These three categories are set to continue growing thanks to fast fashion retailers constantly updating their offerings, increased travel activity, and the rising healthy living and athleisure trends.

The Bags and Luggage in Western Europe global briefing offers detailed strategic analysis of the global Personal Accessories market by pinpointing growth sectors and identify factors driving change. The report identifies leading companies and brands within the keenly contested, fashion-driven competitive landscape, trend developments, economic/lifestyle influences, seasonal patterns, market and distribution strategies. Forecasts illustrate how the market is predicted to develop between mature and emerging countries, threats facing the business as well as opportunities to be seized for further growth.

Product coverage: Bags and Luggage, Jewellery, Watches, Writing Instruments.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
  • Get a detailed picture of the Personal Accessories market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.
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Bags and Luggage in Western Europe
  • Introduction
  • Regional Overview
  • Leading Companies and Brands
  • Forecast Projections
  • Country Snapshots
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Western Europe is home to many of the world’s top luxury brands, but the region has been vulnerable to an extremely challenging economic environment over the past decade. With local consumers forced to be extremely cautious with spending, bags and luggage is facing an uphill battle to reduce dependence on tourism, and reclaim the share of spending it has lost to other rising categories, such as experiences and electronics, which are steadily transforming into necessities for today’s consumers.

Macroeconomic factors play a heavy hand in discretionary spending

Although economic turbulence over the past decade has made European consumers cautious in spending, the region continues to show high per capita spending on accessories as compared to other regions, as much of the region is made up of developed countries. However, the economic uncertainty affecting discretionary spending has plagued bags and luggage in many key countries.

Markets favouring function over fashion prove their reliability in sales

Slow but steady performers Germany, Sweden and the Netherlands were unspectacular but proved most dependable over time. Their bags and luggage markets are more reliant on demand for quality and functional products, and less driven by fashion. More worrisome are markets such as the UK and Turkey, which are currently boosted by tourism. Tourism is especially vulnerable to ebbs and flows caused by the fickleness of consumer wanderlust and currency fluctuations.

Luxury brands reign in their native region

Top luxury brands easily reign over non-luxury brands, as they chalk up high value sales. Western Europe, particularly, appeals to tourists from far-flung regions such as Asia Pacific and Latin America, where import taxes and inflation have made the same goods extremely expensive by comparison. The challenging economic environment in the European market also proved to be a boon for affordable luxury brands such as Michael Kors, which made inroads by straddling the lucrative midsection between non-luxury and luxury. Consumers appreciate the simple, classic designs and premium materials offered by accessible luxury brands.

Alternative brands and platforms gain share at the expense of bags and luggage specialist

The popularity and ever-ambitious product portfolio of high street and fast fashion brands, led by H&M and Zara, has caused a corresponding increase in accessories sales through apparel and footwear specialists. Meanwhile, the digital age has brought a boom in internet retailing. The region’s tech-savvy and affluent population now crave a seamless transition between the virtual and physical stores that complement their connected lifestyles.
Note: Product cover images may vary from those shown
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