India Luggage and Bags Market Overview:
Luggage
is a passenger’s personal belongings carried while traveling onboard an
aircraft, ship, or bus, whether checked or unimpeded. Luggage entails of bags,
cases, and containers which control a traveler’s stuff while the traveler is in
transit. During the olden days, the luggage was frequently made of wood or
heavy materials. But the form of luggage as transformed drastically over time.
According
to the report analysis, ‘India
Luggage and Bags Market Outlook to 2025- Growth in Outbound & Domestic
Tourists Coupled with Inclination Towards Branded Luggage Supporting Market
Growth)’ states that India luggage and bags market augmented at
a double digit growth rate over the review duration 2013-2019 and was further assisted
by enlarging the travelling based expenditure for both leisure and corporate
tourism, growing proliferation of online portals, introduction of cost-effective
pricing products and customer shift from unbranded to branded superiority
products. The entry of numerous international players has also underwritten
towards the same. Strong growth was witnessed in Indian luggage and bags
industry majorly owing to high customer demand but a depreciating USD ($)
affected profitability of several producers in India. However, stabilization of
GST rate at 18% (previously 28%) generated a positive impact on the consumer requirement.
Snapshot
on India Online Luggage and Bags Market
The
online market was witnessed to be in its early growth stage alongside observing
the massive growth over the years. E-Commerce channel delivers the unbiased
feedback of product from the real users of the product, thus its assistances a
customer in making an informed choice while buying the product. The luggage
segment underwritten major share of revenues followed by bags segment throughout
2019. However, in terms of volume the bags were the registering category. The
competition in the online luggage and bags market was witnessed to be extremely
fragmented with foremost players competing on the basis of pricing, product variability,
design and style, functionality and several other factors. Some of the foremost
market players involve Samsonite, VIP, Safari, Hidesign, Wildcraft and others
with Samsonite leading the market in terms of gross merchandize value during
2019. Due to the price sensitive nature of Indian customers along with the augment
product listings on E-commerce platforms, the online sale is predicted to grow during
the near future.
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Competitive
Landscape
Competition
was again witnessed to be extremely fragmented in the unorganized segment
however, within the organized market, the competiton has become focused with
the entry of international brands such as Samsonite, Louis Vuitton, Da Milano,
Tommy Hilfiger and others. In addition, the local / domestic players have a greater
existence in the market in terms of revenue, Product SKUs, manufacturing
capabilities and several others.
India
Travel Bags Market Future Outlook
Factors
such as new product variations, investment in smart luggage products, online distribution
and shift from mass to premium price positioning will propel the India luggage
and bags market during the near future both in terms of revenue and sales
volume. Apart from the traditional dealer / distribution channel, numerous
other sales channels will augment in future such as canteen store department
(CSD) around India. However, the weakening of INR against USD endures to put a
pressure on retailer margins and effectiveness of luggage and bag
manufacturers; resulting into cost optimization and augment in the consumer
prices.
Companies
Covered:
·
VIP
Industries Ltd
·
Samsonite
International SA
·
Safari
·
LVMH
Moët Hennessy Louis Vuitton SA
·
Wildcraft
India Pvt Ltd
·
Hermès
International SCA
·
Kering
SA
·
Hidesign
India Pvt Ltd
Key
Topics Covered in the Report
·
India
Luggage and Bags Market Introduction
·
Luggage
Wheel Bag Manufacturers in India
·
India
Luggage and Bags Market Size, 2013-2019P
·
India
Luggage and Bags Market Segmentation, 2013-2019P
·
Snapshot
on India Online Luggage and Bags Market
·
Porter
Five Forces Analysis on India Luggage and Bags Market
·
Trends
and Developments in India Luggage and Bags Market
·
Pest
Analysis on India Luggage and Bags Market
·
Regulatory
Landscape in India Luggage and Bags Market
·
Customer
Profiling for India Luggage and Bags Market
·
Consumer’s
Decision Making Parameters and Buying Behavior in India Luggage and Bags Market
·
Issues
and Challenges in India Luggage and Bags Market
·
Comparative
Landscape in India Luggage and Bags Market
·
India
Luggage and Bags Market Future Outlook and Projections, 2019P-2025F
·
Analyst
Recommendations for India Luggage and Bags Market
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