The luggage industry is a huge market. With the improvement of people’s living standards and the development of tourism, the luggage industry market is constantly expanding, and various types of luggage have become indispensable accessories around people. People demand that luggage products not only be strengthened in practicality, but also expanded in decoration.
Industry market size
According to statistics, the global luggage manufacturing market reached $289 billion in 2019 and is expected to reach over $350 billion by 2025. In the entire luggage market, trolley cases occupy an important market share, followed by backpacks, handbags, and travel bags. In downstream markets, the demand for women and men is almost equal, while in high-end markets with higher purchasing power, female consumers are dominant.
China is one of the world’s largest luggage consumption markets, with a luggage market size of 220 billion yuan in 2018. According to statistics, the annual growth rate of the Chinese luggage market from 2019 to 2020 was about 10%, and it is expected that the market growth rate will continue to accelerate in the future.
Market development trends
1. Environmentally friendly styles are becoming increasingly popular.
With the improvement of national and global environmental awareness, more and more consumers are pursuing environmentally friendly products. As a widely used daily product, luggage products are increasingly valued for their environmental performance. Environmentally friendly luggage products are made of environmentally friendly materials, which are environmentally friendly, durable, and easy to clean. These products are widely welcomed in the market.
2. Smart luggage will become a new trend.
Intelligent products have been a rapidly developing field in recent years, and the luggage manufacturing industry has also begun to introduce intelligent technology and launch intelligent luggage. Smart luggage can help people easily complete luggage related operations, such as remotely controlling the luggage lock, easily finding the location of the luggage, and even automatically sending messages to the owner when the luggage is lost. Intelligent luggage is also expected to become a future development trend.
3. Online sales becoming a trend.
With the rapid development of mobile Internet, more and more luggage brands begin to focus on the development of online sales channels. Online sales channels allow consumers to easily browse products, stay informed of prices, product information, and promotional information in real-time, which is extremely convenient for consumers. In recent years, online sales have been rapidly growing, and many luggage brands are gradually entering the online market.
Market competition situation
1. Domestic brands have obvious competitive advantages.
In the Chinese market, the quality of domestic brand luggage is constantly improving, and the design is becoming more mature, bringing consumers a good user experience and a sense of purchase satisfaction. Compared to international brands, domestic brands place more emphasis on price and cost-effectiveness advantages, as well as many characteristics in terms of styling and color design.
2. International brands have an advantage in the high-end market.
Internationally renowned luggage brands occupy an important position in the high-end market. These brands have advanced design and production processes, high-end quality experiences, and are highly sought after by high-end consumers.
3. Intensified competition in brand marketing.
In the constantly expanding market, competition among more and more luggage brands is intensifying, and differentiated marketing between brands has become the key. In marketing and promotion, word-of-mouth and social media have played an important role, while constantly innovating and adopting various marketing methods to enhance brand awareness and competitiveness.
Post time: Apr-11-2024