Demand for Luggage and Bags in Philippines is Driven by Increase in Working Population, Growing Retail Presence and Growth in Domestic Tourism: Ken Research

“The Unorganized Sector dominated the Luggage and Bags market in the Philippines as Consumers are price conscious and are willing to compromise on quality to purchase an affordable product.”

The report titled “Philippines Luggage and Bags Market Outlook to 2023 – By Bags (Handbags, Backpacks, Cross body Bags, Duffel Bags, Wallet Coin Pouches, Business Bags, Other Small Bags), By Luggage (Hard and Soft Case), By Distribution Channel” by Ken Research suggested that the luggage and bags market in The Philippines has been growing due to increasing young and working people and also due to the changing perception of people towards bags and luggage from utility to a lifestyle product. The market is expected to register a positive CAGR of 5.3% in terms of revenue during the forecast period 2018-2023E.

Increase in Domestic Tourism: Tourism Industry is extremely vital for the Philippines contributing about 12% to the national coffers every year. Domestic tourism in The Philippines is growing continuously in the country. In 2018 alone, more than 40 million Filipinos visited domestic tourist destinations and will continue to grow in the coming years, thus increasing the sale of bags and luggage in The Philippines.

Growing Retail Presence: The bags and luggage manufacturers are increasing their retail presence in the Philippines with even big players like Louis Vuitton opening their second store in the Philippines. The retailers are also increasing their presence online which is evident from the 32% rise in Internet Retailing during the period 2013 to 2018.

Increase in Distribution Channels: The major players in the Philippines are looking to increase their retail presence both online as well as offline to increase the sale of their products. The brands have been looking to increase their customer reach through malls in the major cities and also through specialist retail stores in smaller cities. The brands are also selling their products through hypermarkets, office and stationery supply stores and footwear and apparel stores especially in smaller cities where there are either no malls or are very few in number.

Rise in Innovation: Innovation plays a major role in the luggage and bags market as there are different brands offering similar products but they can differentiate themselves through innovation, either through innovation in design or through innovation in selling the product. Many companies are using technology for innovation, for instance, Modobag uses motorized technology in the luggage for its customers to ride on and Herschel Supply Co. has come up with luggage that has the in-built charger and a USB port for customers to charge their mobile phones on the go. The labor force in the Philippines has also increased from 40 Million in 2013 to 44 Million in 2018, thereby increasing the demand for bags in the market.

Key Segments Covered:-

By Demand in Region, 2018

Luzon

Visayas

Davao

By Application/Use, 2018

Leisure

Business

By Market Structure, 2018

Unorganized

Organized

By Bags, 2013-2018

Backpacks

Business Bags

Crossbody Bags

Duffel Bags

Handbags (basic, mid, luxury)

Wallet and coin pouches

Other small bags

By Luggage Type

Hard Case

Soft Case

By Luggage Category

Wheel

Non-Wheel

By Distribution Channel, 2013-2018

Hypermarkets

Apparel and footwear specialist’s retailers

Bags and luggage specialist’s retailer

Stationers/office supply stores

Other leisure and personal goods specialist retailers

Department stores

Variety stores

Warehouse clubs

Other non-grocery specialists

Direct Selling

Internet Retailing

Key Target Audience

Luggage Manufacturers

Bags Manufacturer

Distributors

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2019-2023

Companies Covered:-

Louis Vuitton (LVMH)

Avon Products Inc.

VF Corporation

Samsonite international SA

Adidas AG

Nike Incorporated

Herschel Supply Co.

Herme’s

Marithé et François Girbaud

Key Topics Covered in the Report:-

Philippines Cross body Bags Market

Philippines Duffel Bags and Wallet Coin Pouch

Philippines Business Bag Market

Bags and Luggage in the Philippines

Luggage and Bags sale in Philippines

Luggage Retailers Philippines

Luggage Bags Target Consumers Philippines

Luggage bags demand Philippines

Luggage Importers Philippines

Bag Exporters Philippines

Bags and Luggage Sales Davao

Bags and Luggage Sales Visayas

Samsonite Philippines Luggage Market Share

VFC Bags and Luggage Sales Market Philippines

For More Information, Refer To Below Link:-

Philippines Luggage and Bags Market Outlook

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Global Luggage & Bags Zipper Market 2018 – By Manufacturers, Regions, Type and Application, Forecast To 2023

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Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

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