1.1 Definition and presentation
The handbag market is part of the wider embellishment and accessories market. A bag is a fashion accessory that allows you to store everyday objects (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 account when a consumer buys a bag. Its practicality, but also its aesthetics and brand remain particularly important.
The market for handbags is very diverse and can be segmented into several categories based on a variety of factors:
- Ranges or brands: luxury, high-end, middle-end, low-end;
- Shapes or sizes: clutch bag, small bag;
- Materials: leather, synthetic, fabric or recycled material.
In Italy, the handbag industry (manufacturers and distributors) is in excellent health but is facing a slight decline in consumption, resulting from the broader cut in expenditure on clothing by Italian consumers. Competition between an increasing number of players is growing, and the two extreme segments of the market, on one side luxury and on the other low end, seem to be the driving pillars, to the detriment of all the "middle" brands. Traditional manufacturers such as LVMH now have to deal with private labels, for example. New distribution channels are also emerging, creating new opportunities for the sector.
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