Just Published: "Bags and Luggage in Thailand"

From: Fast Market Research, Inc.
Published: Sun Nov 22 2015

While the political situation became more stable and the economy in Thailand showed signs of improvement in 2015, some consumers remained cautious about spending on non-essentials. Bags and luggage registered current retail value growth of 8% to reach Bt40.9 billion. Consumer behaviour became more sophisticated and the variety of brands, prices and designs increased in bags and luggage. Growing fashion consciousness contributed to the category’s performance in 2015.

Competitive Landscape

LVMH Moët Hennessy Louis Vuitton SA led the fragmented bags and luggage category with 7% of retail value sales in 2014. The company had a strong presence with a series of luxury brands including Louis Vuitton, Loewe, Marc Jacobs, Donna Karan, Celine and Mulberry. These brands were present in many categories of handbags, business bags, crossbody bags, wallets and coin pouches and luggage. Thanks to the advantage of luxury brand perception, Prada SpA ranked second 3% in 2014. Narai Intertrade Co Ltd was the only domestic company among the leaders in a category dominated by international players.

Full Report Details at
- http://www.fastmr.com/prod/1072880_bags_luggage_thailand.aspx?afid=301

Industry Prospects

Bags and luggage is expected to register a retail value CAGR of 4% (constant 2015 prices) over the forecast period to reach Bt50.8 billion in 2020. While mass consumers are expected to become more conservative regarding purchases of non-essential products, demand from middle- and upper-income consumers is expected to drive growth. As consumers become more sophisticated the purchasing process is expected to take longer. However, product innovation, continuous marketing activities and aggressive promotional campaigns are effective drivers of sales.

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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