Growth in tourism and traveling along with recovery of oil price, increase in the number of shops opened across numerous shopping malls, and changing demographics have boosted the demand for Handbags and other bags such as crossbody, backpacks, and wallets in the country.
Change in Demographics: ~50.0% of the total population in 2020 under the age bracket 25-54 years supplemented by the high per capita income ($19,586 in 2020) represents a huge potential for the bags and luggage market in Saudi Arabia.
Import Driven Market: Products are contract manufactured mainly in countries such as China, Vietnam, Brazil, and Bangladesh and are directly imported into the Kingdom. 85%-90% of the products are usually imported.
Highly Fragmented Market: No single player in the luggage industry in KSA accounts for more than 5-10% of the revenue with almost all global brands having a presence in KSA. Low brand loyalty, a wide array of choices for customers, and a large number of SKUs give rise to high competition.
Highly Influenced by Seasonal Discounts: Most successful marketing strategies and campaigns in Saudi Arabia for bags and luggage are carried out during the festive season of Ramadan and Eid which presents many opportunities for a variety of marketing campaigns such as collaborating with destinations, hotels, and airlines for advertising promotions for special Eid offers or special discounts.
Impact of COVID19: The onset of the global pandemic led to a significant spike in luggage in early March since the ex-pats started shifting back to their native places. Customer footfall to shopping malls and retailing stores along with leisure and business travels decreased significantly as consumers had to stay at home. This had a particularly detrimental impact on bags as many of these sales are either dependent on the tourist population or carried out on impulse.
The report titled “Saudi Arabia Bags & Luggage Market Outlook to 2025 (Second Edition) – Driven By Change In Lifestyle, Increasing Travel And Tourism And Customer Inclination Toward High-End Brands” by Ken Research suggested that the bags and luggage market is further expected to grow in the near future owing to Change in demographics, Increase in consumer spending and Rise in the E-commerce industry. The growth in domestic tourism along with surging young and women population foreseeing handbags as a style statement than its functional aspect has supplemented the market growth. The market is expected to register a positive six-year CAGR of 10.1% in terms of revenue during the forecast period 2020-2025F.
Key Segments Covered in Saudi Arabia Bags and Luggage Market: -
By Bags and Luggage
Bags
Luggage
By Type of Bags
Handbags
Backpacks
Business Bags
Wallet
Crossbody Bags
Duffel Bags
Briefcases
Other Bags (Totes, Baguettes, Satchels, Flaps, Hobos, Shopper Bags, Messenger Bags, Clutches and others)
By Type of Luggage
Hard Case
Soft Case
By Hard Case Luggage Capacity
30-50 L
50-90L
>90L
Roling Totes
Others such as Jewellery cases, Business case etc
By Soft Case Luggage Capacity
30-50 L
50-90L
>90L
Garment Bags
Rolling Totes
Others
By Price Range of Bags and Luggage
Premium
Economy
Luxury
By Sales Channel of Bags and Luggage
Offline
Online
By Retail Format of Bags and Luggage
EBOs
MBOs
Local Retailers
By Region
Riyadh
Jeddah
Dammam
Al khobar
Mecca and Medina
Others
Local Manufacturers:
Dagal Factory for tanning leather and leather goods
Saudi Technical Plastic Company Ltd. (STEPCO)
Global Bags Manufacturing Company Factory
Hasibast Al Madinah Factory
Al-Jabreen Leather Industries
Saudi Files Factory
World Box Factory
Distributors/ Trading Companies:
Al Futtaim
Al Malki Group
Chaloub Group
Al Shamasy
Ali Zaid Al Quarishi & Brothers
Al Sawani Group
Al Sannat for Luggage
Al Tayer
Rubaiyat
Grand Stores LLC
Etoile Group
Fawaz Alhokair Group
Al Athar Group
Apparel Group
Saudi Jawahir
Sun & Sand LLC
Bags and Luggage Brands
LVMH
Samsonite Group (Samsonite, Kamiliant, High Sierra, American Tourister)
Kering
Capri Holding
Prada
Delsey
Burberry
Tommy
Nike
Adidas
TUMI
Aldo Group
Christian Dior
Key Target Audience
Luggage Manufacturers
Bags Manufacturer
Retailers and Distributors
Time Period Captured in the Report:
Historical Period: 2015-2020
Forecast Period: 2020–2025
Key Topics Covered in the Report:-
Saudi Arabia Luggage and Bags Market Introduction
Saudi Arabia Luggage and Bags Market Size, 2015-2020
Saudi Arabia Luggage and Bags Market Segmentation, 2015-2020
Growth Drivers for KSA Luggage and Bags Market
Understanding the Target Market for Bags & Luggage Industry
Recommended Store Layout & Proposed Business Framework
The landscape of Local Manufacturers, Distributors & Retailers in KSA Bags and Luggage Market
Potential B2B Partnership Strategy (Partnership with Corporate, Schools, CSD and Local Retailers)
Competition Scenario of Bags and Luggage Market in KSA
4Ps and Pricing Analysis in KSA Luggage and Bags Market
Global Practices and Global Case Scenarios that can be adopted in KSA
Technological Innovations in Bags and Luggage Market
Consumer’s Decision Making Parameters and Buying Behavior in KSA Luggage and Bags Market
Issues and Challenges in KSA Luggage and Bags Market
KSA Luggage and Bags Market Future Outlook and Projections, 2020-2025F
GTM and Market Opportunities for KSA Luggage and Bags Market
For More Information on the research report, refer to below link:-
Saudi Arabia Bags and Luggage Market
Related Reports by Ken Research: -
Global Luggage & Bags Market 2019 By Manufacturers, Regions, Type And Application, Forecast To 2024
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Do you need personal loan?
ReplyDeleteLoan for your home improvements,
Mortgage loan,
Debt consolidation loan,
Commercial loan,
Education loan,
Car loan,
Loan for assets.
financialserviceoffer876@gmail.com Whatsapp +918929509036