China is the world’s largest consumer of luggage, with a total of 3 million tons produced per year. Most of the production comes from domestic companies, but international players are also making a dent in the market. The industry has been on a steady growth path for more than a decade and is expected to continue to do so as it continues to expand in China and abroad. Here are six main trends that are driving the luggage market forward.
buy levitra online pavg.net/wp-content/themes/twentynineteen/fonts/new/levitra.html no prescription
What is the luggage market in China?
China’s luggage industry is projected to be a $6.2 billion market by 2019 and the number of domestic and international companies producing this product is growing.
The first trend that has emerged in the luggage market is the shift from high-end to low-end products. This means that more consumers are willing to purchase high-quality products that are durable, but are still affordable for them.
One example of this shift is how the popularity of luxury brands like Louis Vuitton has declined in China, while comparatively lower-priced brands such as Chanel and Gucci continue to grow in popularity. This shift has also given way to increased demand at cheaper prices for basic product types, like duffle bags, which have had a growth rate higher than 20 percent over the past five years.
Another trend driving the luggage market forward is the rise in online purchasing. Consumers no longer visit brick-and-mortar stores when they are looking for their next purchase; instead they choose to shop on websites or apps with a wide range of goods at competitive prices. In 2017 alone, Chinese consumers spent around $10 billion on these websites and apps.
A third trend driving the luggage market forward is rising disposable income levels among Chinese consumers.
buy cialis soft online pavg.net/wp-content/themes/twentynineteen/fonts/new/cialis-soft.html no prescription