Fast Market Research recommends "Bags and Luggage in Hong Kong, China" from Euromonitor International, now available
[USPRwire, Tue Feb 03 2015] Affordable luxury brands of bags and luggage appeal to the growing middle class in Hong Kong and mainland China, meaning that consumers are seeking luxury items but value their money at same time. Niche and customised collections of luxury brands are consumers' favourites. Chinese consumers have increased sophistication and aspirations in the choice of bags and luggage; they see strong connection of luxury brands with their social status and personality traits.
Louis Vuitton Hong Kong, Gucci Group (Hong Kong) and Prada Asia Pacific continued leading sales in 2013, securing the largest retail value shares in bags and luggage with Louis Vuitton Hong Kong accounting for a 7% share and Gucci Group (Hong Kong) and Prada Asia Pacific each holding a 6% share. Despite the global decline in Gucci value sales, the brand is still favoured by Chinese consumers and local loyalists. A wide sales network including its own flagship stores and an exclusive brand image strategy targeting Chinese consumers drove Gucci’s value sales during 2013.
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Concerns over the economic outlook in China and Hong Kong slow down consumer spending activity on personal accessories. Consumers are likely to lengthen their purchase decisions in weighing the value of bag features and functionality, as they are also becoming more cautious when shopping for luxury items.
Discover the latest market trends and uncover sources of future market growth for the Travel Goods industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Travel Goods industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.
The Travel Goods in Hong Kong, China market research report includes:
* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
* How are sales of Travel Goods expected to perform by 2014?
* What impact does outbound and domestic tourism have on the sales of luggage?
* What share of the market do Leisure and Personal Goods retailers account for?
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