Research and analysis on the development trend and market environment of the luggage industry in 2022
Research and analysis on the development trend and market environment of the luggage industry in 2022
Research and analysis on the development trend and market environment of the luggage industry in 2022
Luggage is a general term for bags and various bags used to hold things, including general shopping bags, handbags, handbags, wallets, backpacks, shoulder bags, satchels, waist bags and various trolley cases. The classification of bags in the field of national quality standards is also from the perspective of use. Therefore, the definition of luggage in China is not consistent with the international classification.
The upper reaches of the luggage industry are mainly composed of aluminum alloy, leather, cloth and other raw materials. Leather luggage, cloth luggage, PU luggage and other materials constitute the middle reaches of the industry. The lower reaches are the main sales channels of the luggage industry, including business supermarkets, brand physical stores, offline channels of clothing wholesale markets, e-commerce platforms and other online channels.
China’s luggage industry has a long industrial chain and many circulation links. The emergence of e-commerce has broadened the sales channels and innovated the business model of luggage enterprises. E-commerce has reduced transaction costs. Consumers can directly contact new products and brands, and quickly purchase bags of different brands. Luggage enterprises can introduce, publicize and sell products through the Internet, which shortens circulation and transaction links and improves efficiency. With the increasingly mature operation mode of e-commerce and related platforms, the operating cost will continue to decrease, and the e-commerce of the luggage industry will be the general trend.
According to the Research Report on the Deep Development of China’s Luggage Industry from 2022 to 2027 and the “Fourteenth Five Year Plan” Enterprise Investment Strategy Plan released by China Research Institute of Industry
The luggage market still has great potential in scale and will achieve further growth after the transformation. The scale of the domestic luggage market has been expanding in recent years, and women have always maintained a high viscosity for luggage. In the future, the sales of women’s bags in China are expected to be greatly improved. Data shows that 41% of women and only 30.2% of men buy high-end bags.
With the deepening of the concept of “new retail”, the single shopping strategy of women’s bags in the past is changing, and “experience” has become a new intangible quality of brands. The “new retail” has accelerated the upgrading of China’s consumption structure, and at the same time, it has promoted the women’s bag business to glow with new vitality.
According to customs data, in 2021, the export volume of cases, bags and similar containers in China will be 2.44 million tons and the export amount will be 27.862 billion US dollars. China’s luggage production has accounted for more than 70% of the world’s share, and has occupied a dominant position in the world. As a big country in the world that manufactures luggage, China has more than 20000 luggage manufacturers, producing nearly one third of the world’s luggage, with a huge market share.
In recent years, with the rapid development of the luggage industry, the number of luggage enterprises in China is also increasing. At present, they are mainly concentrated in coastal Guangdong, Fujian, Zhejiang, Shandong, Shanghai, Jiangsu, and inland Hebei and Hunan provinces. The improvement of the degree of centralization has driven the sales scale of the luggage industry in China.
The distribution of the domestic luggage industry chain is reflected in the serious polarization of the market: First, the pattern of domestic luggage is generally low end, weak brand strength, low markup, and the unit price is generally below 500 yuan. Second, overseas brands occupy high-end product lines, with unit prices ranging from thousands to tens of thousands of yuan and high markup rate. The break out of the brand has become a good opportunity for the development of domestic high cost performance luggage brands such as OIWAS and 90 points, and the sales of travel cases priced at 300-1000 yuan are booming.
Compared with the deep brand precipitation in the international luggage industry, the luggage industry in China started late. However, with the economic globalization and the growing economic level in China, the brand awareness of the domestic luggage industry has awakened. Taking advantage of the Dongfeng trend, it has carried out new changes and upgrades, reshaped the brand value, and ushered in a new opportunity for development in the post epidemic era.
As a large country of luggage production, China has formed a complete industrial chain including raw and auxiliary material manufacturers, luggage manufacturers and retail luggage brands. The export and output of luggage in China rank first in the world, but China is still a big manufacturing country, with more than 20000 luggage manufacturers, but few big brands. It is the only way for Chinese luggage enterprises to further develop to build their own luggage brands with their own manufacturing advantages.
The research report on the luggage industry aims to start from the national economic and industrial development strategy, analyze the future policy trend and the development trend of the supervision system of the luggage industry, tap the market potential of the luggage industry, and provide a vivid description of market changes from multiple perspectives, such as industrial scale, industrial structure, regional structure, market competition, and industrial profitability, based on in-depth research on key market segments, to clarify the development direction.
Post time: Dec-12-2022