handbags market in south korea 2015-2019
TRANSCRIPT
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Handbags Market in South Korea 2015-2019
The report discusses the following in-depth:
• Market Size and Forecast
• Market Segmentation
• Buying Criteria
• Vendor Landscape
• Business Segmentation
• Geographical Segmentation
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Key Trends
Technavio’s Senior Analyst says, “The handbags market in South Korea is expected to witness the emergence of several trends that will exert a positive influence on the market during the forecast period. One such trend is product differentiation. The emergence of online retailers and increased online campaigns have also influenced increased online purchases by consumers, which in turn is increasing online sales of handbags. ”
• Handbags, including satchels, totes, and wallets, are among the most desirable and popular fashion accessories for men and women and have become status symbols. Consequently, the demand for luxury and premium handbags is growing. Various handbag companies are adopting innovative strategies to adapt to changing consumer demographics and preferences, such as the rising demand for eco-friendly handbags.
• Technavio's analysts forecast the handbags market in South Korea to grow at a steady CAGR of 3.42% by revenue and 2.95% by volume during 2014-2019.
• Understanding the key drivers influencing the market
• Understanding the challenges faced by the market
• Activities of various stakeholders involved
• Key focus areas for the vendors
• Major trends that will shape the future of this market
• Vendor landscape and trajectory of the market
• Conclusion
Scope of The Report
A detailed analysis of each market driver, challenge
and trend isavailable in our report:
Handbags Market in South Korea 2015-2019
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Vendors
To understand the vendor landscape and for a full list of vendors view our report:
Handbags Market in South Korea 2015-2019
Burberry
Chanel
Coach
Burberry is one of the leading players in the global luxury handbags market. The company targets premium customers and is now focusing on an emerging new class of young consumers in developing economies. The company is also interested in increasing its sales through travel retail because of the growing travel retail market and increasing tourism activities across the globe.
Chanel is a French, privately owned fashion house and luxury goods manufacturer. It manufactures a variety of products ranging from fragrances to apparel, watches, handbags, and leather goods.
Coach was founded in 1941 and is headquartered in New York, US. It is one of the leading retail companies in the US. The company, through its extensive distribution and retail channel network, designs, markets, and distributes accessories and gifts for customers worldwide.
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Market Landscape
• The handbags market in South Korea is expected to witness high year-on-year growth.
• The increasing penetration of per capita consumption or ownership of handbags among consumers is the primary growth driver behind the increasing sales volumes in the market.
• The desire to own different bags for different occasions is influencing the behavior, especially among women, to buy more number of handbags.
• However, the threat of the large counterfeit goods market and the long product replacement cycles hamper the volume growth of the handbags market in South Korea.
• On the whole, the launch of new designs, textures, and features in handbags will positively influence demand during the forecast period.
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Key Buying Criteria
Parameter Details
Advertising and Promotion Campaigns
Various marketing campaigns such as ads, posters, contests, and sale promotions influence the purchase behavior of consumers.
Design The appearance and aesthetics of a bag add to the bag's design, which should be appealing to consumers.
Fashion Trends The features of a bag should be trendy and made according to latest fashion trends.
Price
Prices of different varieties and brands of handbags should be fair.
Storage and Size The size of bag and storage space matter to consumers.
• Growth Forecasts?
• Market Analysis?
• Revenue Forecasts?
• Regional and Country level Analysis?
• Competitive Structure?
• Emerging Trends?
• Vendor Landscape?
• Other?
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Handbags Market in South Korea 2015-2019
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