The Handbag Trend - Consumer analysis
Its time to analyze the key consumer trend, the consumer's purchasing behavior of handbag and purse's category for better insight. In this report we shall analyze the recent consumers demand, the buying behavior while deciding for the next bag's purchase. The shape, color and material trends.
Consumers Look for Logo-Free Unique style Bags
According to a recent survey by NPD, 81 percent of Millennial said it was important for a brand logo on handbags to be subtle.
“Consumers are becoming less focused on image and more focused on individuality — especially the younger generations. While the cachet of designer logos is still relevant for many, the days of consumers looking to be a part of a designer or brand movement are wanting for their desire to find the style and function unique to their personality and lifestyle,” said Marshal Cohen, NPD’s chief industry analyst.
Research reveals Purchases of non-logo bags increased amongst Millennial, Gen X and older (70-plus) consumers, and remained flat among younger Millennial (aged 18-24) and Baby Boomer demographics. Gen Z’s share of non-logo handbag purchases increased 8 percent in the 12 months ending June 2016.
Increased demands for Designer Bags and Purse
Our recent study shows women are now looking more towards designers brands to have unique style. Also millennial customers are more focused towards style rather than designers/brand popularity. The bags/Purse under 100$ is the most looked online search demand. Our study shows there is an increase of 7% in designers handbag demand but most of the consumers are now looking for the cheaper designers bag solution.
Key Handbag style trends
Clutch bags, Tote handbags and satchel bags show increased demand among consumers compared to the previous years demand for the U.S. customers. Satchel bags with cross body styles are popular among the young consumers which shows about 1.8% increase demand compared to the last years data..