In the closing several years, the girls’s handbag enterprise has been in decline. NPD estimates that 2017 purse income have been $7.0 billion, down 8% from 2016. The facts is remarkably …
In the closing several years, the girls’s handbag enterprise has been in decline. NPD estimates that 2017 purse income have been $7.0 billion, down 8% from 2016. The facts is remarkably steady among assets and while you speak to people inside the handbag business, all of them say how tough it’s been. It raises the query: What took place? Why would handbag income be declining when the financial system is so strong? Why would consumers be shopping for fewer handbags once they maintain to shop for greater of most other things? Where did they go?
At the most latest Outdoor Retailer change display, NPD supplied some exciting statistics about backpacks and duffel luggage. Sales of backpacks to men are down with the aid of 5% (for the twelve months finishing May 2018). Sales of youngsters’s backpacks are down even greater, with the aid of 15%. Curiously, sales of backpacks to ladies are up by a whopping 15%. Duffel bag income are up as well, by way of 17% for the twelve months ending February 2018.
The facts leads me to handiest one viable conclusion: a considerable variety of women have started using backpacks and duffel bags fabricated from technical substances in preference to handbags. When I advise that to human beings in the industry, they suppose it makes feel. There are different recommendations, too: The styles of purses which are gaining in recognition now are more practical, like fanny packs and pass-frame luggage. Those handbags have the most features and are closest to the out of doors lifestyle characterised by using backpacks and duffel bags.
The change is also regular with the change in fashion to athleisure clothes. The majority of athleisure garments bought have in no way been worn at the same time as workout. That’s one greater signal that outdoor, technical merchandise are what clients want. Backpacks and duffel luggage have been once thought of handiest for energetic out of doors sports but now they’re used every day and feature cut into the handbag marketplace. The backpack corporations have been smart approximately it; they make more backpacks for smaller frames which might be better suitable for ladies.