The New Era of Designer Bags: Redefining Leather Goods
BoF’s guide to the $72-billion category examining how brands can refine their strategies around brand elevation and pricing amid the growing spending power of the Chinese consumer, the entrance of new mid-tier players and the rise of resale and rental.
Bags and small leather goods are the foundation of many of the world’s top luxury businesses and remain one of the industry's biggest and most profitable categories. But the landscape is crowded and volatile.
In "The New Era of Designer Bags: Redefining Leather Goods," BoF Insights provides its outlook on designer bags and small leather goods in the US and China, the two most important global markets for this category. The report features proprietary consumer data in both primary and secondhand markets to reveal what, why and how consumers are buying in the category, which is set to grow at a rate that will outpace that of designer apparel to be worth $100 billion by 2027.
Length: 105 pages File Format: PDF File
Price:
£2,495.00
Table of Contents
Ranking of Sales Contributions by Bags to Major Designer Brands
Timeline of Key Shifts in Designer Bag Landscape
Case Study: Burberry Turnaround
Case Study: Saint Laurent Customer Acquisition
Growth in Designer Bags Vs. Designer Apparel
Global Category Growth to 2027
Primary Markets of the US and China
Growth Drivers in the US and China
Engaged General Consumers and HNWIs
Heritage Brand Mapping
Contemporary Brand Mapping
Three Forces: Accessibility, Casualisation and Sustainability
Pricing Architecture for Ten Key Bag Brands
Fashion Forwardness Correlation with Colourways
Tactics for Brand Elevation
Chanel Price Increases
Balancing Core Vs. Novelty
Copycat Designs of Bestsellers
Case Study: Mansur Gavriel’s Ownership of the Bucket Bag
Engaged General Consumers and HNWIs
General Consumer and HNWI Budgets for Designer Bags
Gen-Z and Millennial Spending on Designer Bags
2019-2022 Average Price Increases for Designer Bags in the US
HWNI Reactions to Price Increases
Most Desired Designer Bag Brands
Key Brand Attributes that Influence Purchasing
Preferred Bag Shapes in the US
Preferred Bag Shapes in China
Small Leather Goods’ Pricing
Womenswear vs. Menswear Small Leather Goods
Emergence of Mini Bags
Resurgence of Belt Bags
US: Key Attributes for Regular Use Bags
US: Canvas Totes Replacing Designer Bags for Regular Use
US: Key Reasons for Using Reusable Canvas Totes
US: Key Attributes for Special Occasion Bags
US: Generational Preferences for Bag Attributes
US: Case Study: Telfar and Identity
China: Key Attributes for Regular Use Bags
China: Key Attributes for Special Occasion Bags
China: Generational Preferences for Bag Attributes
Preferences for Gender Neutrality
Case Study: Rimowa’s Push into Lifestyle Via Bags
Sustainability: What US Consumers Care About
Sustainability: What Chinese Consumers Care About
Digital Empowerment for Consumers
Three Forces Shaping Consumer Journeys
Chinese Shopping Preferences by Platform
Chinese Preferences for Livestreaming
Growth in Livestreaming to 2023
US Investment in Livestream Shopping
Attitudes toward Bag Resale and / or Rental
Global Luxury Resale Market Size and Forecasts
Why Designer Bags are Conducive to Resale
Preferred Brands for Browsing and Buying Via Resale
Resale Impacts on Consumers
Resale Impacts on Brands
Case Study: Resale of Luxury Timepieces Foreshadowing Market for Designer Bags
Rental Market Players
Why Buy this Report
Analyses the global market for designer bags and SLGs from premium and luxury brands, with a minimum retail price of $250 / 1,500 Chinese yuan
Features proprietary research with consumers and HNWIs in the US and China, revealing the most in-demand brands and styles, budget by demographic group, the psychology behind purchases, and consumer attitudes towards channels like resale and rental
Provides executive guidance around tactics for brand elevation, including pricing architecture
Includes concise case studies on Burberry, Saint Laurent, Mansur Gavriel, Telfar and Rimowa, as well as strategic analysis of key brands positioned across the price spectrum like Bottega Veneta, Coach, Gucci, Hermès, Jacquemus, Kate Spade, Louis Vuitton, Mark Cross, Off-White, Prada and Stella McCartney
Outlines how the concurrent forces of accessibility, casualisation and sustainability are expanding the definition of luxury while assessing how technology is impacting consumer behaviour and product portfolios
Research Inputs
Four surveys:
A demographically balanced general population consumer survey in the US
A nationally representative general population consumer survey of the online population in Tier 1-3 cities in China
A panel conducted by Altiant LuxuryOpinions® on behalf of BoF Insights of HNWIs in the US, who individually have a median value of $2 million in investable assets
A panel conducted by Altiant LuxuryOpinions® on behalf of BoF Insights of HNWIs in the China, who individually have a median value of $1.5 million in investable assets
24 interviews with executives from brands and retailers, rental and resale platforms, influencers and consultants in the US and China
10 in-person store audits and pulse interviews conducted at designer bag brands and luxury retailers in Chicago, London and New York
Companies featured in the report include: Bottega Veneta, Burberry, Coach, Gucci, Hermès, Jacquemus, Kate Spade, Louis Vuitton, Mansur Gavriel, Mark Cross, Off-White, Prada, Rimowa, Saint Laurent, Stella McCartney and Telfar.
