Getting the Bag: Explosive E-Commerce Growth and Low Barriers to Entry Have Accelerated Industry Growth
Online handbag and luggage stores are enjoying strong revenue growth driven by rising e-commerce activity. The convenience, selection breadth and price-competitiveness online platforms give consumers are hard for traditional brick-and-mortar stores to compete with, and the onset of the COVID-19 pandemic made the industry the only option for most consumers. While industry revenue dipped in 2020 as consumer confidence plummeted, strong growth in consumer spending in the years since has promoted sales of discretionary items and more than made up for previous losses. Because of strong pre- and post-pandemic expansion, industry-wide revenue has been growing at a CAGR of 6.0% over the past five years and is expected to total $2.1 billion in 2023, when revenue will jump by an estimated 2.6%.
This industry sells handbags, wallets and other leather goods on the internet. This includes online-only retailers as well as brick-and-mortar stores that have an online presence.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Nordstrom, Inc.
- Macy's, Inc.
- Neiman Marcus Group, Inc.
Methodology
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