As social activities recover, the US women's bag market is growing

NPD data shows that sales of women's handbags in the United States fell only 2% compared with the same period from March to August 2019. Specifically, cosmetic bags had the largest sales increase, up 48%, followed by shoulder bags, crossbody bags, and clutch bags, with increases of 14%, 7%, and 2%, respectively. However, sales of shoulder bags fell 5%, and handbags fell 1%.

From these data, we can see that cosmetic bags, shoulder bags, etc., which are closely related to going out and other social activities, performed well; while the sales performance of shoulder bags and handbags related to work continued to be weak.

NPD footwear and accessories analyst Beth Goldstein said the women's bag market rebounded faster than expected and recovered much of the revenue lost in 2020.

According to Statista, from 2010 to 2015, sales of women's handbags in the United States increased from US$6.24 billion to US$10.58 billion, and have remained above US$10 billion since then. However, with the advent of the epidemic, people have reduced their activities outside, and demand for handbags has weakened. In 2020, sales of women's handbags in the United States were only US$6.75 billion, a decrease of nearly 40% from 2019.

In fact, in the past few years, there has been no significant breakthrough in the sales of women's bags, which is also related to the change in people's attitude towards handbags. According to a 2019 survey report by NPD, consumers' priorities and spending have shifted to products that provide convenience for the family, media entertainment, sportswear and footwear. A study of millennials found that buying a handbag is more like buying a car than buying clothes. This means that consumers need to think carefully before buying a handbag, and the frequency of changing handbags is not high.

However, Beth Goldstein pointed out that as consumers return to their pre-epidemic lives, they plan to treat themselves. In addition, after staying at home for several months, they have more spare money and are willing to spend it on handbags.

As the epidemic situation in the United States improves and the vaccination rate increases, people are gradually returning to their pre-epidemic lives. Compared with 2020, people's demand for various products has also changed. Sellers can pay attention to relevant information and adjust their sales direction in time.

USA

Women's Bags