Out of style: Due to convenience, online retailers will continue to threaten the industry

Over the five years to 2017, demand for the Handbag, Luggage and Accessories Stores industry has contracted as the brick-and-mortar retailers that operate in this industry have struggled as a result of increasing external competition. With personal leisure time at a premium and e-tailers offering a convenient outlet for most consumers' needs, e-commerce has risen rapidly, contributing to significant declines in industry revenue. Furthermore, the proliferation of mass merchandisers like Walmart has siphoned revenue from the industry, particularly its low- and mid-priced segments. Over the five years to 2022, IBISWorld expects that the same drivers will continue to negatively impact the industry...read more.

Industry Statistics & Market Size
Revenue
$230m
Annual Growth 12-17
-0.5%
Forecast Growth 17-22
Profit
Employment
839
Businesses
163

Industry Threats & Opportunities

  • Retailers are anticipated to strengthen their in-store experiences to combat e-tailers
  • Industry exits and consolidation have caused the number of employees to contract
  • Competition from high-end department stores is expected to intensify
  • Industry Report - Industry Key Buyers Chapter

    The Handbag, Luggage & Accessory Stores industry exhibits a high level of market share concentration, with the three largest players accounting for 73.4% of total industry revenue. While the majority of industry operators are small and operate one or two establishments, the largest two players, Bentley Leathers Inc. and Samsonite International hold 55.2% and 10.2% of industry market share, respectively. Market share concentration has risen slightly over the five years to 2017, with operators like Michael Kors Holdings Limited and Samsonite swiftly growing in size despite falling overall industry participation...purchase to read more.

    Additional Insights for the Handbag, Luggage & Accessory Stores Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Handbag, Luggage & Accessory Stores Industry are

  • Attractive product presentation
  • Proximity to key markets
  • Maintenance of excellent customer relations
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Number of fixed broadband connections in the Handbag, Luggage & Accessory Stores industry impact industry performance..

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    What's in this report

    What is the Handbag, Luggage & Accessory Stores Industry?

    This industry includes specialty retailers that predominantly sell handbags, luggage, briefcases or any combination of these products.

    Industry Products
  • Luggage, suitcases and briefcases
  • Handbags
  • Men's accessories
  • Industry Activities
  • Selling handbags
  • Selling leather accessories
  • Selling travel bags and luggage
  • Selling wallets and gloves
  • Selling briefcases
  • Selling trunks
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Number of fixed broadband connections
  • Number of households earning $100K or more
  • International trips by Canadian residents

  • Current Performance
  • External competition
  • Industry exits and consolidation
  • Mixed downstream trends
  • Chart: Revenue Growth

  • Industry Outlook
  • Luxury losses
  • Competition and closures
  • Bright spots
  • Table: Handbag, Luggage & Accessory Stores Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Handbag, Luggage & Accessory Stores Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers in Canada

  • Key Selling Industries
  • Clothing & Clothing Accessories Wholesaling in Canada
  • Manufacturing In Canada

  • Products & Services
  • Handbags
  • Men's accessories
  • Luggage, suitcases and briefcases
  • Chart: Handbag, Luggage & Accessory Stores Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Highest income quintile
  • Fourth income quintile
  • Third income quintile
  • Second income quintile
  • Lowest income quintile
  • Chart: Major Market Segmentation for the Handbag, Luggage & Accessory Stores Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Handbag, Luggage & Accessory Stores

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Handbag, Luggage & Accessory Stores Industry

  • Industry Globalization
    Bentley Leathers Inc., Samsonite International, Michael Kors Holdings Limited,
  • Table: Bentley Leathers Inc. - financial performance
  • Table: Samsonite International - financial performance
  • Table: Michael Kors Holdings Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Handbag, Luggage & Accessory Stores Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Handbag, Luggage & Accessory Stores Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • International trips by Canadian residents (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Aspirational Shopper
  • Shoppers who aspire to purchase high-end luxury goods, but limit their budget to about $300.00, thereby purchasing small-ticket items like purses and accessories.
  • Lipstick Effect
  • A theory proposed by Leonard Lauder, of Estee Lauder, which states that consumers will purchase lower-cost luxuries rather than higher-priced luxuries in times of economic uncertainty.
  • Outsourcing
  • Subcontracting process where manufacturing is conducted by a third-party company, either locally or internationally.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Handbag, Luggage & Accessory Stores market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Handbag, Luggage & Accessory Stores:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Handbag, Luggage & Accessory Stores market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Handbag, Luggage & Accessory Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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