Global Leather Luggage Market: About this market This leather luggage market analysis considers sales from travel bags, casual bags, and business bag products. Our study also finds the sales of leather luggage in APAC, Europe, MEA, North America, and South America.
New York, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Leather Luggage Market by Product and Geography - Forecast and Analysis 2020-2024" - https://www.reportlinker.com/p05834257/?utm_source=GNW
In 2019, the travel bags segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growth in the number of tourists and product expansions by market vendors will play a significant role in the travel bags segment to maintain its market position. Also, our global leather luggage market report looks at factors increasing the number of product launches, a rising number of initiatives, and the expansion of online retailing of leather luggage products. However, the wide availability of leather-free luggage products, side effects of leather processing, and availability of counterfeit leather luggage products may hamper the growth of the leather luggage industry over the forecast period.
Global Leather Luggage Market: Overview
Expansion of online retailing of leather luggage products
The online sales of leather luggage products are increasing, owing to convenience. Online portals allow customers to compare leather luggage products across a wide range of brands and save time on purchase. Some online retailers offer additional discounts on leather luggage products. They provide exclusive deals and free-of-cost delivery options. Vendors are also focusing on expanding their online footprint in new geographies. Some vendors also provide an option for customization on their online platforms. Such online retail expansions by prominent players will lead to the expansion of the global leather luggage market at a CAGR of over 8% during the forecast period.
Rising demand for smart leather luggage
Vendors are focusing on adopting various strategies to increase their customer base and sales. One such strategy is the development of smart leather luggage products. Some vendors offer smart leather luggage products to secure the belongings of end-users. Smart leather luggage products are equipped with various features such as inside lights, missing item reminders, open alerts, wireless chargers, Wireless-Fidelity (Wi-Fi) connectivity, global positioning system (GPS) tracking, and cameras. With the missing item reminder option, end-users can mark items with special identification stickers that come and identify them. These smart leather luggage products will help end-users in securing their belongings. A few vendors also offer their GPS luggage trackers that can operate in various modes. This development is expected to have a positive impact on the overall market growth.
With the presence of several major players, the global leather luggage market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading leather luggage manufacturers, that include Bellroy Pty Ltd., Hermès International, Hidesign, Kering SA, Leatherology, LVMH Moët Hennessy - Louis Vuitton, MAHI Leather Ltd., Samsonite International SA, Tapestry Inc., and VIP Industries Ltd.
Also, the leather luggage market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p05834257/?utm_source=GNW
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