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Global Handbag Market 2019-2023 | Growing Adoption of Omnichannel Retailing to Boost Growth | Technavio

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LONDON--(BUSINESS WIRE)--Oct 9, 2019--

The handbag market size is expected to post a CAGR close to 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global handbag market 2019-2023. (Graphic: Business Wire)

The global Internet penetration rate is growing at a rapid pace, which is encouraging handbag manufacturers to leverage e-commerce platforms to offer a wider range of products and cater to customers demand for comfort and convenience while shopping. Consumers across the world are increasingly shifting to online shopping platforms owing to their busy schedules. The growing adoption of digital products such as smartphones, tablets, and laptops is further boosting the online sale of handbags. Thus, the increase in e-commerce penetration will significantly drive the handbag market growth during the forecast period.

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As per Technavio, the growing adoption of omnichannel retailing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Handbag Market: Growing Adoption of Omnichannel Retailing

With the constant development of digital technologies and the e-commerce market, omnichannel retailing has emerged as a new mode of product distribution. Omnichannel retailing provides shoppers with an integrated experience across online and offline channels. It provides a seamless and consistent shopping experience, irrespective of the touchpoint used. This form of retailing helps handbag manufacturers leverage the available inventory as omnichannel requires them to have a centralized system to provide instant information about the available products. Hence, the growing adoption of omnichannel retailing will boost the growth of the handbag market size during the forecast period.

“Apart from the growing adoption of omnichannel retailing, other factors such as the rise in product launches by renowned brands and the increase in strategic alliances will have a significant impact on the growth of the handbag market size during the forecast period,says a senior analyst at Technavio.

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Handbag Market: Segmentation Analysis

This market research report segments the handbag market by distribution channel (offline and online) and geography (APAC, Europe, North America, MEA, and South America).

The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. The growth of the handbag market share in APAC can be attributed to several factors such as the emerging middle-class population, increasing demand for fashion products and rising disposable income.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

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PUB: 10/09/2019 08:00 PM/DISC: 10/09/2019 08:01 PM