The report titled “Saudi Arabia Bags and Luggage Market Outlook to 2023 – By Type (Backpacks, Business Bags, Cross body Bags, Duffel Bags, Handbags, Wallet and Other Bags); By Handbag Price Segment (Luxury, Premium, Economy)” by Ken Research suggested that the luggage and bags market in Saudi Arabia has been growing due to increasing young and working people and also due to the changing perception of people towards bags and luggage from utility to lifestyle product. The market is expected to register a positive CAGR of 16.3% in terms of revenue during the forecast period 2018-2023E.
The bags and luggage market in Saudi Arabia is in its late growth stage. All major international players have shown their presence in the market and are competing aggressively to dominate. Bags are in very high demand as compared to luggage and the global leader LVMH dominates the Saudi bags market. There is no major domestic designer brand in luxury segment. Majority of the domestic bag companies are in the low price segment and lack total presence in hard case luggage market. EBOs and MBOs are biggest retail channels for sale of bags and luggage in Saudi Arabia.
Increase in Domestic Tourism: The domestic tourism in Saudi Arabia is on its growth path and has played a very important role in the market growth. According to Saudi Communication for Tourism and National Heritage, there were 2 million domestic tourists during midyear vacation in 2018. Movement of such huge number of people has led to purchase of many bags and luggage products. Bags come in very handy for women during travel as well as during their day to day travel activity.
Exploring Sales Channel: In order to increase the sales of bags and luggage, the retailers are increasing their online presence. The online retailing has grown significantly at a positive CAGR from 2013 to 2018 and is expected to increase further as the use of internet grows. The major players in Saudi Arabia are looking to increase their retail presence both online as well as offline to increase the sale of their products. The brands have been looking to increase their customer reach through malls in the major cities and also through specialist retail stores in smaller cities. The brands are also selling their products through hypermarkets, office and stationary supply stores and footwear and apparel stores especially in smaller cities where there are either no malls or are very few in number.
Key Topics covered in this report:
Wallet Industry Saudi Arabia
Backpack Market Saudi Arabia
Business Bag Sales Saudi Arabia
Luggage Turnover KSA
Hard Case Luggage Sales KSA
Imported Bag Sales Saudi Arabia
Luxury Handbag Market KSA
Saudi Arabia Bags and Luggage Market
Saudi Arabia Bags and Luggage Industry
Bags and Luggage Businesses Saudi Arabia
Saudi Arabia Bags and Luggage Market Revenue
Major Companies Bags Saudi Arabia
Major Companies Luggage Saudi Arabia
Saudi Arabia Bags Sales
Saudi Arabia Luggage Revenue
Handbag Market KSA
Bags Luggage Distribution Channels Saudi Arabia
Bags Sales in Riyadh
Luggage Market in Saudi Arabia
Bags Market Trends KSA
Luggage and Bags Future Saudi Arabia
Luggage and Bags Recent Developments
Samsonite Saudi Arabia Market
Avon Saudi Arabia Market
Louis Vuitton Saudi Arabia Market
Adidas Saudi Arabia Market
Nike Saudi Arabia Inc. Market
Capri Holding Company Bags
Luggage and Bags Target Consumers Saudi Arabia
Bags demand Saudi Arabia
Luggage retailers Saudi Arabia
Online Bags sales Saudi Arabia
Bags importers Saudi Arabia
Key Segments Covered
Saudi Arabia Luggage and Bags Market
Market Segmentation of Bags Market
Types of Bags
Backpacks
Business Bags
Cross body Bags
Duffel Bags
Handbags
Wallet
Other Bags
Type of Handbag
Luxury
Premium
Economy
By Retail Format
Multi Brand Outlets (MBOs)
Exclusive Brand Outlets (EBOs)
Local Retailers
By Sales Channel
Online Channel
Offline Channel
By Material
Leather (inc faux and Suede leather)
Non Leather
By Region
Central
West
South
East
North
Market Segmentation of Luggage Market
By Price Segment
High (SAR 500)
By Case Type
Hard Case
Soft Case
By Region
Central
West
South
East
North
By Sales Channel
Offline
Online
By Retail Format
MBOs
EBOs
Local Retailers
Time Period Captured in the Report:
Historical Period: 2013-2018
Forecast Period: 2019-2023E
Companies Covered:
Louis Vuitton (LVMH)
Avon Products Inc.
VF Corporation
Samsonite international SA
Adidas AG
Nike Incorporated
Herschel Supply Co.
Hermes’s
Marithé et François Girbaud
For more information, refer to below link:
https://www.kenresearch.com/consumer-products-and-retail/luxury-goods/saudi-arabia-bags-and-luggage-market-outlook/235747-95.html
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