New Study: Travel and Business Bags Market in Japan 2015-2019

Fast Market Research announces the availability of Technavio's new report "Travel and Business Bags Market in Japan 2015-2019" on their comprehensive research portal.

The travel and business bags market in Japan is witnessing a great demand owing to increased travel and tourism activities, and rising number of business travelers. People are increasingly seeking stylish and convenient travel bags suiting their personality and purpose. The changing political, economic, and social environment, as well as the popularity of e-commerce will propel market growth in Japan.

The travel and business bags market in Japan is classified into four segments: Duffle bags, trolley bags and suitcases, backpacks, and business bags. The trolley bags and suitcases segment was the largest, in terms of revenue and volume, accounting for a market share of 48.30% and 44.11% respectively.

Technavio predicts that the travel and business bags market in Japan will grow at a CAGR of 1.48% and 1.22%, in terms of revenue and volume respectively, during 2014-2019.

Get More Details on this Report and a Full Table of Contents at Travel and Business Bags Market in Japan 2015-2019

The report analyst commented, "Although online luggage goods retailing still only accounts for a minor share of total luggage goods retail sales, it is essential for luggage manufacturers and retailers to be in this channel and to use it for marketing purposes to improve visibility among luggage consumers, to maintain brand equity, and to attract the tech-savvy generation. Further, aggressive marketing, pricing, and customer acquisition tactics are driving sales through e-commerce in Japan. Many travel and business bags manufacturers as well as retailers have, therefore, entered this segment offering a variety of brands and designs through online portals. As a result, sales of handbags through online stores are also increasing, influencing positive growth of the market during the forecast period."

According to the report, increasing Internet penetration coupled with high demand for online shopping is driving the travel and business bags market in Japan. More than 77 million Japanese consumers shopped online in 2014. Travel and business bags of various new designs, fashions, and styles are found online. Also, increasing disposable incomes and various options on the Internet are fueling sales of travel and business bags. Though sales through the Internet are lower for travel and business bags, it is expected that this segment will be a major driving force during the forecast period. In 2014, 7.05% of total travel and business bag sales were generated online, and this market share is expected to rise in the travel and business bags market in Japan.

Further, the report states that the presence of many inexpensive imitations in the market is leading to market fragmentation, resulting in issues such as lack of price standardization, an uneven competitive scenario, and market share erosion.

The key players in the Travel and Business Bags Market in Japan are Ace, RIMOWA, Samsonite, VIP, Yoshida, ZERO Halliburton and Zhongshan C&C Luggage while other prominent vendors include Adidas, AEON, Anyvention, Aldo, Alfred Dunhill, Boconi, C & J Clark International, Caribee, Changshu Maydiang, Group, Donna Karan International (DKNY), Ferrari, Fossil, Hankyu Hanshin Holdings, IKETEI, Isetan Mitsukoshi Holdings, J. Front Retailing, Loward, Marksman Luggage & Bag Industrial, MIYAKO, Pierre Cardin, Proteca, Puma, Sazaby League, SIFFLER, T&S, TATSUYA HANZAEMON, USB International and Wenger

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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