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Global Clutch Bag Market Analysis, Drivers & Restraints During the Forecast Period, 2020-2024 - ResearchAndMarkets.com

January 16, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Jan 16, 2020--

The “Clutch Bag Market by Distribution Channel and Geography - Forecast and Analysis 2020-2024” report has been added to ResearchAndMarkets.com’s offering.

Global Clutch Bag Market: About this market

The clutch bag market analysis considers sales from both offline and online distribution channels. Our study also finds the sales of the clutch bag in APAC, Europe, MEA, North America, and South America. In 2019, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as convenience offered by the offline distribution channel will play a significant role in the offline segment to maintain its market position. Also, our global clutch bag market report looks at factors such as growing demand for luxury clutch bags, evolving styles and designs of clutch bags, and increasing accessibility of branded and international products. However, fluctuating labor and raw material costs, the presence of counterfeit products, and stringent government regulations on procuring raw materials such as leather may hamper the growth of the clutch bag industry over the forecast period.

Global Clutch Bag Market: Overview

Growing demand for luxury clutch bags

The demand for luxury products, such as luxury clutch bags, is increasing among consumers, owing to the rising spending power of customers globally. Several luxury brands, such as Louis Vuitton, Burberry, Tommy Hilfiger, Dior, and Estee Lauder, have implemented Al-powered technologies to offer more personalized and timely customer services. These luxury brands, through their Al-powered chatbots, are selling products using targeted marketing, personalization, and timely automation, thus attracting more customers. Furthermore, the changing spending behavior of consumers, such as the rising adoption of celebrity-endorsed luxury brands will lead to the expansion of the global clutch bag market at a CAGR of almost 6% during the forecast period.

Vegan leather and eco-friendly materials for clutch bags

Handbag designers and consumers are believing in non-animal materials for premium clutch bags. Many of the major clutch bag brands are now using 100% recycled plastic bottles for making the inside lining of clutch bags, owing to the increasing demand for cruelty-free products from consumers. Governments and various animal protection agencies have raised concerns to stop the hunting of animals, which has restricted the supply of leather. This is fueling the demand for vegan leather-based and eco-friendly clutch bags. This development is expected to have a positive impact on the overall market growth.

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

PART 12: VENDOR LANDSCAPE

PART 13: VENDOR ANALYSIS

For more information about this report visit https://www.researchandmarkets.com/r/rdu7z3

View source version on businesswire.com:https://www.businesswire.com/news/home/20200116005496/en/

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KEYWORD:

INDUSTRY KEYWORD: FASHION RETAIL

SOURCE: Research and Markets

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PUB: 01/16/2020 09:27 AM/DISC: 01/16/2020 09:27 AM

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