Bags and Luggage in the Philippines

Jan 28, 2015 - Euromonitor International - 21 pages - USD $900
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Bags and luggage grew positively in current value during 2014, though at a slower pace than in 2013. Consumers’ rising sophistication and fashion consciousness raised their willingness to explore the various bag types. Expansion of fashion brands such as H&M and Bench in the Philippines also aroused consumer interest in their bags, especially due to the affordable price tags. On the other hand, an increase in budget air travel further raised consumers’ demand for luggage in 2014, therefore contributing to the positive current value growth of bags and luggage.

Competitive Landscape

VF Corp slightly gained value share to reach 5%, strengthening its lead in bags and luggage during 2013. Its Kipling brand managed to attract consumers with its unique design utilising crinkled nylon that is lightweight and fashionable. On the other hand, its other brands including Jansport and Eastpak managed to attract consumers in the backpacks category with their attractive prices.

Industry Prospects

Bags and luggage is expected to record positive constant value growth over the forecast period. The essential nature of bags and luggage will support the category’s performance. Furthermore, consumers are increasingly fashion conscious and thus willing to invest in multiple bags to match their different outfits. At the same time, mid- to high-income consumers will increasingly upgrade to luxury bags and even luggage so as to better exude their status.

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Euromonitor International is a world leading independent provider of business intelligence on industries, countries and consumers. Their business intelligence products include award-winning online information databases, market reports and business reference books. Founded in 1972, Euromonitor International is a privately owned company with offices in London, Chicago, Singapore, Shanghai and Vilnius. Euromonitor has a team of over 600 in-country analysts worldwide, giving them a unique capability to deliver high quality and reliable business information.