Market Research Report
Clutch Bag Market by Distribution Channel and Geography - Forecast and Analysis 2020-2024
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||920962|
|Published||Content info||134 Pages
Delivery time: 1-2 business days
|Clutch Bag Market by Distribution Channel and Geography - Forecast and Analysis 2020-2024|
|Published: December 17, 2019||Content info: 134 Pages||
Technavio's clutch bag market analysis considers sales from both offline and online distribution channels. Our study also finds the sales of the clutch bag in APAC, Europe, MEA, North America, and South America. In 2019, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as convenience offered by the offline distribution channel will play a significant role in the offline segment to maintain its market position. Also, our global clutch bag market report looks at factors such as growing demand for luxury clutch bags, evolving styles and designs of clutch bags, and increasing accessibility of branded and international products. However, fluctuating labor and raw material costs, the presence of counterfeit products, and stringent government regulations on procuring raw materials such as leather may hamper the growth of the clutch bag industry over the forecast period.
The demand for luxury products, such as luxury clutch bags, is increasing among consumers, owing to the rising spending power of customers globally. Several luxury brands, such as Louis Vuitton, Burberry, Tommy Hilfiger, Dior, and Estee Lauder, have implemented Al-powered technologies to offer more personalized and timely customer services. These luxury brands, through their Al-powered chatbots, are selling products using targeted marketing, personalization, and timely automation, thus attracting more customers. Furthermore, the changing spending behavior of consumers, such as the rising adoption of celebrity-endorsed luxury brands will lead to the expansion of the global clutch bag market at a CAGR of almost 6% during the forecast period.
Handbag designers and consumers are believing in non-animal materials for premium clutch bags. Many of the major clutch bag brands are now using 100% recycled plastic bottles for making the inside lining of clutch bags, owing to the increasing demand for cruelty-free products from consumers. Governments and various animal protection agencies have raised concerns to stop the hunting of animals, which has restricted the supply of leather. This is fueling the demand for vegan leather-based and eco-friendly clutch bags. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global clutch bag market during the forecast period 2020-2024, view our report.
With the presence of several major players, the global clutch bag market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading clutch bag manufacturers, that include Burberry Group Plc, Capri Holdings Ltd., CHANEL Ltd., Dolce & Gabbana Srl, Global Brands Group Holding Ltd., Hermes International, Kering SA, LVMH Moet Hennessy - Louis Vuitton, Ralph Lauren Corp., and Tapestry Inc.
Also, the clutch bag market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.