New Report Available: Bags and Luggage in Sweden

From: Fast Market Research, Inc.
Published: Thu Nov 19 2015

According to a 2015 MasterCard study, handbags remained items that Swedes typically spend their money on when they want to indulge themselves. Thus, 44% of Swedes listed clothes, shoes or handbags as their main choices when indulgence spending. These products accounted for the highest share in this regard.

Competitive Landscape

Samsonite remained the leader in what is a highly fragmented competitive landscape in 2014. It was followed by Björn Borg, Venue Retail Group and Esprit. Next came Haglöfs Scandinavia, which was the leading player in backpacks, the most concentrated of all subcategories in bags and luggage, with a 28% retail value share.

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Industry Prospects

Handbags remains a key product type for Swedes, especially females, in terms of indulgence spending, which is good news for the category as a whole. First and foremost, this is set to remain the case over the forecast period. As the Swedish economy and consumer mood are expected to continue to improve, there is likely to be more room for such indulgence spending in household budgets. Indulgence spending also favours more expensive brands over mere utility shopping, and consumers might combine months of saving-up for a special occasion with indulgence spending.

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