Luggage - US - December 2012
The luggage market is expected to grow over the next few years due to a rebound in the travel industry and renewed consumer confidence, both of which are inherently linked to luggage purchases. However, seeing as items in this category are not purchased very frequently, luggage marketers need to focus on how the value of functions and features of items will justify a new purchase in order to generate sales.
The luggage market is expected to grow over the next few years due to a rebound in the travel industry and renewed consumer confidence, both of which are inherently linked to luggage purchases. However, seeing as items in this category are not purchased very frequently, luggage marketers need to focus on how the value of functions and features of items will justify a new purchase in order to generate sales.
Table of Content
SCOPE AND THEMES
What you need to know
Definition
Data sources
Consumer survey data
Advertising creative
Abbreviations and terms
Abbreviations
Terms
EXECUTIVE SUMMARY
The market
Figure 1: Fan chart forecast of total U.S. retail sales of luggage, 2007-17
Market factors
Consumer confidence likely to impact luggage sales
Figure 2: University of Michigan Consumer Sentiment, November 1978-2012
Travel trends affect the market for luggage
Airline fee increases may create greater demand for carry-on luggage
Retail channels
The consumer
Suitcases most commonly purchased type of luggage
Figure 3: Types of luggage bought in past two years, August 2012
Most buy luggage for replacement needs
Figure 4: Reasons for buying luggage, August 2012
More than half buy luggage at mass merchandisers
Figure 5: Retailers shopped for luggage, any purchase, August 2012
Most think luggage is overpriced, yet willing to pay more for quality items
Figure 6: Attitudes toward luggage, August 2012
What we think
ISSUES IN THE MARKET
How are changes in the travel industry impacting the luggage market?
How can retailers encourage more purchases of luggage?
What attributes are most important to consumers when buying luggage?
What types of innovations are generating interest in the luggage category?
INSIGHTS AND OPPORTUNITIES
Allow consumers to customize luggage to better meet their travel needs
Partner with travel sites to promote luggage
Multifunctional items may help drive sales of luggage
TREND APPLICATION
Inspire Trend: Perfecting the Details
Inspire Trend: Many Mes
2015 trends
East Meets West
MARKET SIZE AND FORECAST
Key points
Luggage market poised for growth
Figure 7: Total U.S. retail sales of luggage, at current prices, 2007-17
Figure 8: Total U.S. retail sales of luggage, at inflation-adjusted prices, 2007-17
Fan chart forecast
Figure 9: Fan chart forecast of total U.S. retail sales of luggage, 2007-17
MARKET DRIVERS
Key points
Consumer confidence and luggage sales
Figure 10: University of Michigan Consumer Sentiment, November 1978-2012
Travel trends affect the market for luggage
Increases in airline fees may create demand for smaller, carry-on items
MARKET SEGMENTATION
SEGMENT OVERVIEW
Key points
All luggage segments expected to grow
Figure 11: Total U.S. retail sales of luggage, by segment, at current prices, 2007-17
Travel bags/sports bags account for largest share
Figure 12: Total U.S. retail sales of luggage, by segment, 2010 and 2012
TRAVEL BAGS/SPORTS BAGS
Key points
Travel bags/sports bags will see growth, favored for multipurpose use
Figure 13: Total U.S. retail sales of travel bags/sports bags, 2007-17
SUITCASES
Key points
Sales of suitcases will return to growth after strong recessionary declines
Figure 14: Total U.S. retail sales of suitcases, 2007-17
BACKPACKS
Key points
Backpacks saw rebound after recession, will experience growth
Figure 15: Total U.S. retail sales of backpacks, 2007-17
RETAILER OVERVIEW
Department stores
Macy’s Inc.
Nordstrom
Kohl’s
Sears
JC Penney
Market threats and opportunities for department stores
Mass merchandisers and warehouse clubs
Target
Walmart
Costco
Market threats and opportunities for mass merchandisers and warehouse clubs
Discount stores
T.J. Maxx and Marshalls
Ross
Market threats and opportunities for discount stores
Online-only retailers
eBags.com
Amazon.com
Overstock.com
Market threats and opportunities for online-only retailers
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