Newly released market study: Global Wallets Market 2015-2019

From: Fast Market Research, Inc.
Published: Sun Sep 06 2015

Wallets are for both men and women, and are designed to carry personal belongings such as cash, cards (business cards, credit and debit cards, identification cards, and gift cards etc.), other identification documents, and photographs. These are also among the most fashionable and popular products among people. Wallets are not only comfortable and convenient to carry but have come to be seen as a status symbol in urban society. Consequently, the demand for luxury and premium wallets has gained momentum. Various handbag (wallet) companies are adopting innovative strategies, according to the changing consumer demography and preferences, such as rising demand for eco-friendly handbags, to tap the market. Also, launch of designer wallets exclusively for men is gaining traction in the market.

Technavio analysts forecast the global wallets market to grow at a CAGR of 4.77% and 4.93%, in terms of revenue and volume, respectively, during 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "The increased use of social media by consumers has made it integral to marketing campaigns. For handbag retailers around the world, the platform provides instant brand visibility and access to a huge potential consumer base. India is one of the most socially engaged markets in the world, and social media will become an essential tool to engage shoppers. Baggit takes advantage of this by preparing a monthly plan consisting of around 15 to 20 posts that help the company build brand awareness, engage customers, and launch their latest collections. The company also allocates 10% of its budget to digital marketing. Many manufacturers and retailers use social networking sites to gain marketing and sales advantage over their rivals. Retailers come up with innovative ways to influence consumers' purchase decisions, such as social shopping and social commerce. Da Milano, one of the early adopters of social media marketing, created a Send Diwali Greetings app that was built to send greetings via Facebook."

According to the report, the rapid economic growth and improving macroeconomic conditions in numerous countries have increased the income of most consumers. This high income is expected to increase the number of consumers spending on wallets, which will thereby drive the growth of the market. Among the major consumer segments, the significant growth of the middle-income consumer group, in terms of disposable income and spending on lifestyle products, has been growing steadily in recent years. This in turn has made the middle-income consumer group a potential segment for vendors in the market.

Further, the report states that one of the main challenges hindering the growth of the market is the increasing competition from counterfeit or fake products.

The key players in the Global Wallets Market are Burberry Group, Chanel, Coach, Etienne Aigner, Furla, Hermes International, Kate Spade, LVMH, Michael Kors, Mulberry, Prada, Ralph Lauren and Tory Burch while other prominent vendors include Alfred Dunhill, Baggit, Bryn Capella, Bottega Veneta, Buggatti, Calleen Cordero, Caprese, Changshu Maydiang Group, Da Milano, Dolce & Gabbana, Donna Karan International (DKNY), Ferrari, Fossil, Guess, Giordano Fashions, Hidesign, Holi, J.W. Hulme, Kikuhiro, Kenneth Cole Productions, LADIDA, Lavie, L.Credi, LexiWynn, Lipault Paris, Longchamp, Lulu Guinness, Mandarina Duck, Mango Bags, Oroton Group, Paul Costello, Paul Smith, Powerland Group, PUIG, Puma, Ralph Lauren, River Island, Russell & Brombley, Smythson, TLG Brands, Vanessa Bruno, Victoria Leather and VF

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. For further information on this report, please visit -

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Global Shoulder Bags Market 2015-2019
- Mobile Money Market - Global Forecast to 2019
- Global Banking and Payment Smart Cards Market 2015-2019
- Global Mobile Wallet Market 2015-2019
- Mobile Payment Solutions: User Interfaces, Mobile Wallets and Banking 2015 - 2020

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email:
Contact Phone: 1-413-485-7001

Visit website »