American market
The handbag market in United States
A handbag is a fashion accessory that has a functional purpose (to store keys, a phone...) but is obviously also used to reveal one's personality and clothing style. If the handbag is mainly intended for women, more and more mixed models appear as the tote bag or the crossbag.
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A handbag is a fashion accessory that has a functional purpose (to store keys, a phone...) but is obviously also used to reveal one's personality and clothing style. If the handbag is mainly intended for women, more and more mixed models appear as the tote bag or the crossbag.
Handbags are characterized by :
Their range and brand: luxury, high-end, mid-range, entry-level
Their shape and size: tote bag, clutch, shoulder bag, bucket bag, etc.
Material: leather, synthetic, textile, recycled material, etc.
The global handbag market is expected to grow at a steady pace, with an average annual growth rate of 5.8% until 2030.
In addition, new growth drivers are emerging, in particular the digitalization of the sector, the development of the second-hand market, as well as the growing attention of consumers to the eco-responsibility of the products they buy.
While the Covid-19 epidemic led to a drop in sales during containment, structural growth in the market appears solid. Major U.S. specialty players in the market include Coach, Michael Kors and Kate Spade. in addition to these, there are foreign specialist players, particularly European ones such as Louis Vuitton, Hermès and Gucci, not forgetting the ready-to-wear, accessories and shoe brands that often also offer handbags.
All these players are often manufacturers who distribute their products directly. However, handbags are also distributed in department stores, such as Bloomingdale's, supermarkets and hypermarkets, as well as on the Internet by pure players, such as Asos.
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