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Summary and extracts
1 Market Summary
1.1 Definition and presentation
The handbag market is part of the broader accessories market.
A handbag is a fashion accessory for storing everyday items (e.g., wallet, keys). It is a consumer product, intended primarily for women; however, some specific models are also available for men. Many features are taken into consideration when a consumer purchases a handbag: practicality, aesthetics, and even branding remain particularly important.
The handbag market is very diverse and can be segmented into multiple categories based on a variety of factors:
- Ranges or brands: luxury, high-end, middle-end, low-end;
- Shapes or sizes: clutch, small bag;
- Materials: leather, synthetic, fabric or recycled material.
In Italy, the handbag industry (manufacturers and distributors) is in excellent health, but faces a slight decline in handbag consumption, which is part of the broader cutback in spending on the clothing market by Italian consumers. Competition between more and more players is growing, and the two extreme segments of the market, luxury on the one hand and low end on the other, seem to be the driving pillars, thus to the detriment of all "middle" brands. Traditional manufacturers such as LVMH now have to deal, for example, with private labels. New distribution channels are also emerging, creating new opportunities for the industry.
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the handbag market | Italy
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