Bags and Luggage in Japan - New Report Available

Japan has raised the consumption tax from 5% to 8% in April 2014. This was the first increase in 17 years. Consumers moved forward their purchase of goods and services before the tax increase. Bags and luggage also received a large last-minute rush in demand from consumers and luxury bags and luggage especially saw a strong sales growth during the first quarter of 2014. After last-minute shopping sprees ahead of the tax hike, bags and luggage suffered from an inescapable fall-off in sales. Although the recovery was more gradual than expected in the three-month period of July through September, the sales performance after the tax hike was not as bad as expected compared with the performance in 1997, when the consumption tax increased from 3% to 5%. Overall, the retail value sales of bags and luggage experienced a decline by 1% in 2014 to nearly ¥905 billion.

Competitive Landscape

In 2013, bags and luggage brands, particularly luxury brands, benefitted from improving consumer confidence on the back of the “Abenomics” economic recovery in Japan. Both domestic and imported luxury bags and luggage brands performed well in 2013. However, international luxury brands were negatively impacted by the depreciating foreign exchange value of the yen, which strongly decreased sales in US dollars.

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Industry Prospects

The market size of bags and luggage is expected to be impacted by Japan’s ongoing declining population. Total population in Japan is expected to decline from 127 million in 2014 to less than 125 million by 2019. The population aged 15-64, the largest consumer group for bags and luggage, is expected to decrease from nearly 78 million in 2014 to 74 million in 2019 due to the lower birth rate.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Bags and Luggage industry in Japan 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 Bags and Luggage industry in Japan, our research will save you time and money while empowering you to make informed, profitable decisions.

The Bags and Luggage in Japan 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?

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