LONDON–(BUSINESS WIRE)–#GlobalLuxuryHandbagsMarket–Technavio has been monitoring the luxury handbags market and it is expected to post a decremental growth of USD 0.17 billion during 2020-2024. However, the market will progress at a CAGR of almost 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a Negative and Inferior impact on the luxury handbags market. The market growth in 2020 is likely to Decrease compared to the market growth in 2019.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Burberry Group Plc, CHANEL Ltd., Compagnie Financière Richemont SA, Dolce & Gabbana Srl, Hermès International, Kering SA, LVMH Moet Hennessy – Louis Vuitton, PRADA Group, Ralph Lauren Corp., and Tapestry Inc. are some of the major market participants. The focus on product premiumization will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this luxury handbags market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Luxury Handbags Market 2020-2024: Segmentation
Luxury Handbags Market is segmented as below:
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Luxury Handbags Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The luxury handbags market report covers the following areas:
This study identifies increasing demand for convertible handbags as one of the prime reasons driving the luxury handbags market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavios in-depth research has direct and indirect COVID-19 impacted market research reports.
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Luxury Handbags Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Distribution channel
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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