Summary
The Chinese luggage and leather goods market holds huge growth potential in the forecast period. The market is positively influenced by increasing household disposable income, a rising affluent middle class, rapid urbanization, a rising demand for luxury in lower tier cities, and a surge in the number of those travelling. Most luggage and leather goods retailers have a very strong footprint on tier I and tier II cities in China, but very soon tier III and IV cities will join hands with larger cities to drive the market.
Key Findings
- The luggage and leather goods retail sector is expected to generate CNY243.3 billion of sales in 2020, representing a CAGR of 14.43% over the forecast period
- A rising middle class with increased disposable income and altering lifestyles are driving retail demand and retailer's expansion plans in tier lll and tier lV cities will drive further growth
- Per capita spending on luggage and leather goods will continue to soar, with a CAGR of 13.8% over the next five years.
- The growing interest for the online purchase of luggage and leather goods will drive online spending, at a rate of 25.4% over the next five years
Synopsis
“Luggage and Leather Goods Retailing in China - Market Summary and Forecasts” is a detailed sector report providing a comprehensive analysis of the emerging trends, forecasts and opportunities to 2020.
What else does this report offer?
- A thorough analysis of consumer trends changing economic and population factors
- Both qualitative and quantitative insights and analysis of the shifting luggage and leather goods retail dynamics from 2010 to 2020
- Sales of luggage and leather goods through the following channels from 2010 to 2020: Department stores; other specialist retailers; online; hypermarkets, supermarkets and hard-discounters; value, variety stores and general merchandise retailers; other general and non-specialist direct retailers; cash and carries and warehouse clubs; duty free retailers; clothing, footwear, accessories and luxury goods specialists
- An overview of key luggage and leather goods retailers operating across China and their presence across distribution channels
Reasons To Buy
- Gain a comprehensive knowledge on luggage and leather goods sector in the China retail market and develop a competitive advantage from the start of your supply chain
- Investigate current and forecast behaviour trends in luggage and leather goods category to identify the best opportunities to exploit
- Analyze the recommended actions to align your marketing strategies with the crucial trends influencing the consumer behavior
- Understand the fastest growing categories including luggage and leather goods, with insights on performance across key channels from 2010, with forecasts until 2020
- Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer and technology trends influencing the luggage and leather goods market
- Analysis of key international and domestic players operating in the luggage and leather goods market - including store counts and revenues that give you a competitive edge - identify opportunities to improve your market share
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1 Introduction
1.1 What is this Report About?
2 Executive Summary and Outlook
3 Market Context
3.1 A steady economy with major growth potential for retailers
3.1.1 China's economy is increasing despite a declining growth rate
3.1.2 Savings are always a top priority for Chinese
3.1.3 Employment shift from unskilled to skilled, rural to urban, manufacturing to service industries
3.1.4 Inflation rate remains as a major concern
3.1.5 Household consumption trebles driving spending power
3.2 Large population with growing prosperity makes China a big attraction for retail
4 Chinese Shoppers
4.1 From functional to emotional
4.2 More opportunity for niche brands and mass market retailers
4.3 Shopping - a leisure activity
4.4 Two major events drive retail spend in China
4.5 High adoption of smartphones and tablets for shopping
4.6 Counterfeiting forces consumers to trade up to premium for quality assurance
4.7 Tourism /travel increases awareness of international brands
4.7.1 China remains as the second largest Duty Free market in 2020
5 Doing business in China
5.1 Summary
5.2 Anti-corruption crackdown requires careful handling for foreign businesses
5.3 Complex licensing procedures a hindrance for foreign retailers
5.4 Favourable tax structure to encourage domestic and foreign investments
5.5 Impact of government regulations on the luxury market
6 Retail - Product Sectors
6.1 Product Sector Analysis
6.1.1 Luggage and Leather Goods
6.2 Major Retailers
6.2.1 Luggage and Leather Goods
7 Appendix
7.1 Definitions
7.1.1 This report provides 2015 actual sales; while forecasts are provided for 2016 - 2020
7.2 Summary Methodology
7.2.1 Overview
7.2.2 The triangulated market sizing method
7.2.3 Industry surveys in the creation of retail market data
7.2.4 Quality control and standardized processes
7.3 About Verdict Retail
7.4 Disclaimer
Table 1: Custom Duty Rates and Consumption Tax Rates of Luxury Goods
Table 2: China Luggage and Leather Goods Retail Sales (CNY bn), by Channel Group, 2010-2015
Table 3: China Luggage and Leather Goods Retail Sales Forecast (CNY bn), by Channel Group, 2015-2020
Table 4: China Luggage and Leather Goods Retail Sales (US$ mn), by Channel Group, 2010-2015
Table 5: China Luggage and Leather Goods Retail Sales Forecast (US$ mn), by Channel Group, 2015-2020
Table 6: China Luggage and Leather Goods Retail Segmentation, by Channel Group, 2010-2020
Table 7: Key Luggage and Leather Goods Retailers in China
Table 8: China Exchange Rate CNY-USD (Annual Average), 2010-2015
Table 9: China Exchange Rate CNY-USD (Annual Average), 2016-2020 Forecasts
Table 10: Verdict Retail Channel Definitions
Table 11: Verdict Retail Category Definitions
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