New Consumer Goods market report from Euromonitor International: "Bags and Luggage in Mexico"
[USPRwire, Fri Oct 23 2015] Despite being a year of expected economic improvement, 2015 started with strong US dollar appreciation that affected the prices of various imported products. One US dollar went from Mx$14.77 in January to its highest peak at the time of writing in May at Mx$15.49 per US dollar. This led to price increases in numerous categories within bags and luggage, resulting in the category registering the highest current value growth for at least 14 years.
Bags and luggage is a very fragmented category and the leading company in 2014 was Grupo Piagui, which accounted for a 3% value share. The company’s leading position was attributable to the strong positioning of its main brand, Nine West, which has a very well developed distribution network and owns both retail and outlet stores in the country.
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Bags and luggage is expected to record a positive performance over the review period, with sales set to grow at a CAGR of 3% both in volume terms and at constant 2015 prices. Expected growth is likely to be driven by the entrance of new competitors, which might increase the availability of products and encourage a higher frequency of purchases, but also by improved technological innovations within luggage and higher-value brands within bags.
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