The Chinese luggage and leather goods market holds huge growth potential in the forecast period. The market is positively influenced by increasing household disposable income, a rising affluent middle class, rapid urbanization, a rising demand for luxury in lower tier cities, and a surge in the number of those travelling. Most luggage and leather goods retailers have a very strong footprint on tier I and tier II cities in China, but very soon tier III and IV cities will join hands with larger cities to drive the market. more details visit : https://www.kenresearch.com/consumer-products-and-retail/luxury-goods/luggage-leather-goods-retailing/29898-95.html

1. LUGGAGE AND LEATHER GOODS RETAILING IN CHINA-
MARKET SUMMARY & FORECASTS : Ken Research

2. Rising disposable incomes to upsurge China Luggage and
Leather Goods Market: Ken Research

3. • The publication titled “LUGGAGE AND LEATHER GOODS RETAILING
IN CHINA-MARKET SUMMARY & FORECASTS” is a detailed sector
report providing a comprehensive analysis of the emerging trends,
forecasts and opportunities to 2020. Both qualitative and
quantitative insights and analysis of the shifting luggage and leather
goods retail dynamics from 2010 to 2020 have been covered.
• As urbanization and rising disposable incomes along with a huge
population of roughly 1.4 billion, maintains to expand China’s
consumer market, the country’s retail market is also evolving.
China’s Retail Market is the world’s second largest retail market. In
2013 China overtook the US as the largest e-commerce market in
the world and is expected to again overtake the US as the world’s
largest overall retail market by 2018 with Chinese spending
accounting to bealmost one-quarter of the global retail spending.

4. • The Chinese luggage and leather goods market holds huge growth
potential in the forecast period. Most luggage and leather goods
retailers have a very strong footprint on tier I and tier II cities in
China, but very soon tier III and IV cities will join hands with larger
cities to drive the market.China is in fact the biggest producer and
exporter of bags in the world. Small and midsize companies
constitute the luggage and travel goods industry in China.
• The consistent growth in the GDP per capita is a major factor
contributing to the growing demand of luxury goods like leather
goods in China. The market is positively influenced by increasing
household disposable income, a rising affluent middle class, rapid
urbanization, a rising demand for luxury in lower tier cities, and a
surge in the number of those travelling

5. • Retail in China has enjoyed double digit growth for over
a decade as the country enjoys positive economic
growth, rising disposable incomes and growing
incomes. The global recession slowed growth but as the
middle classes expand, retailers have spread to second
and third tier cities, and online shopping takes off,
spending will increase as more consumers have greater
access and inclination to spend.
•

6. Mapping the China’s Retail Market Landscape

7. • Global recession has slowed down the growth in China’s retail
market. However the rapid evolution of China’s economy into a
consumption-driven economy still provides for enormous growth
opportunities in the retail sector.A lot many factors can be
associated to the rising demand for luxury goods like leather goods,
luggage such as consistently increasing population, change in
consumer’s tastes and preferences, rising per capita income with
persistently expanding middle class and so on.

8. • There has been a consistent increase in China’s demand for
luxury good like leather bags, watches, jewellery etc.In
2008, Chinese consumers spent around three billion yuan
on luxury goods.
• The luggage and leather goods retail sector is expected to
generate CNY243.3 billion of sales in 2020, representing a
CAGR of 14.43% over the forecast period. Per capita
spending on luggage and leather goods will continue to
soar, with a CAGR of 13.8% over the next five years.
The growing interest for the online purchase of luggage and
leather goods will drive online spending, at a rate of 25.4%
over the next five years

9. Key Macroeconomic Trends Driving Growth in China’s
Luggage and Leather Goods Retail Market
• Consistently improving macroeconomics conditions have led to the
growth of China’s retail market, even though at a slower rate, which
has in turn led to increased demand for retail market products in
one way or another. Consequently, the growth of the retail market
in term of volume has shown positive but declining growth rates
and is expected to continue with the same trend over the next five
years.
• In recent years as competition has grown, so has demand for
luggage and leather goods industry. Leather goods and luggage has
become one of the fashion statements for women; they prefer
designer handbags, laptop bags and travelling bags etc. which has
turned their focus towards high end brands such as LVMH and other
competing on the same platform. The demand for travel bags also
depends upon the growth of travel industry. Bags, wallets and
purses dominate the demand, of total luggage and leather goods
industry.

10. To know more on coverage, click on the link
below:
• https://www.kenresearch.com/consumer-products-and-
retail/luxury-goods/luggage-leather-goods-retailing/29898-95.html
•
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• Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
www.kenresearch.com
• +91-124-4230204

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