Handbag sales down.

  1. I was reading through news items on my phone and I had come across an article that said handbag sales fell 8 percent in 2017. Thought it was one of those poorly written clickbait articles. Anyway, I did some more digging and the new is legit. Handbag sales did fall 8 percent in 2017. The sale of handbags generated $7 billion. (probably more if you think of women buying fake bags) It seems that women are buying more backpacks and duffles. Here's the link from a recent Forbes article:

    https://www.forbes.com/sites/richardkestenbaum/2018/10/07/handbag-michael-kors-michaelkors-coach-north-face-northface-npd-osprey/#4277628a68b4
     
  2. Decent article with logical ideas.
    Thanks for posting.

    I bought osprey bags (article mentions) this year.
    Good quality gear.:tup:

    This forum is full of manipulative sales tactics, imo.
    To support resellers & click advert links.
    Has very little to do with how most people buy their bags.
    Article is more real world.
    Drop in sales quite understandable.

    Expect further decline, as interest rates increase.
    When easy credit accounts/loans dry up.
    And consumers need real money to buy things.
     
  3. Interesting. I know I've been doing my part to keep handbag sales up, though!
     
  4. Haven't we all! :smile:
     
  5. I thought so. And while we're being honest.....think about the impact of the U.S. tariff. Materials, product, wages. Consumer goods (and that includes handbags) are going to take a hit.
     
  6. Tariff for Chinese imports?
    Probably will raise prices for Target, Autozone, bicycles, down coats & baseball hats.
    Appliances & tech, also. Aluminum.
    Guess US will have to mine/produce own stuff again & create jobs.;)
    Couterfeit handbags will be problem. But always are.
     
    doni likes this.
  7. I think some of the fall might be because the market is starting to be somewhat saturated with designer bags and the preloved market is so strong. IDK if I bought 1 or none new bags last year, but I take advantage of the preloved market and the reasonable pricing.

    Also, what might be driving the market down are the constant price hikes that make even the wealthy, unwilling to pay for high end luxury. When the prices and quality don't meet, it doesn't matter how much money one has - they just don't want to buy.
     
  8. Personally I won’t be buying a backpack any time soon:yucky:
     
  9. I thought I was the only one in a slump. The last bag I bought was a Gucci Dionysus a few years back.

    I love a lot of the new bag designs, but they start looking dated within a few months. I think it also hurts designers when they gift everyone on IG the same bag.
     
  10. This article seems so timely to me, because for the past few weeks, the only bag I’ve thought about buying is a backpack. :P I am NOT a backpack kind of girl — never was, not even in high school. But lately I’ve been noticing so many stylish young women carrying backpacks, and it just looks so easy. So today, I ordered one from Zappos.We’ll see how it works out.

    I thought the backpack-as-everyday-bag was a local phenomenon because I live in an area with a LOT of students, but according to this article, apparently it’s more than a local, college-town trend.

    I’ve been handbag obsessed for years, and I can honestly say that I have more than enough bags to last me the rest of my life. I love what I have, but very little out there excites me anymore. And even loving what I have, it can feel tiresome to switch into a different bag every day. It feels like the whole world just wants things to be simpler, more functional, and less of an effort.

    The other thing I thought was interesting in the article was it made it sound like the handbag industry as a whole has sort of stubbornly refused to keep up with the way society is going. Wonder why that is?
     
  11. Really interesting, thanks for posting. To me it seems of late, "luxury" retailers who've profited off our obsession over the last decade or so have reached their decline in the bell curve of the trend cycle (over/ mass production, market saturation, lack of innovation, declining quality - using cheaper channels to cover sometimes desperate marketing and overly optimistic brick and mortar expansion) all the while increasing prices without commensurate contributions to quality. And, once exclusive access is now ubiquitous, "luxury" is inelegant. All but a few of the big houses rode the wave, it would seem, at some point, there would be a reckoning. Curious what fellow economists out there think?
     
  12. A good decision to try out a backpack! Backpacks are great, especially if you have a heavy load to carry to work or you have back problems. Or if you want to avoid them. Anyway, I say go for it, I love my backpacks for work, play and travel. Nowadays there are so many options as well, everyone can find their own perfect kind.

    While on the subject of growing tired of too much and too many choices; you channeled so many of my thoughts so perfectly!

    It can be tiresome to constantly have to bother yourself over picking a handbag - I realized a few weeks ago I had stopped switching bags so often and now have a "workday core collection" that consists of around 5 bags; other than these five constant performers, I'm feeling like I just can't be bothered right now. I carry the same bag for weeks in a row which is pretty much unheard of; I think it's down to the minimalist in me, raising its head. Simpler, more functional, less effort, as you put it!
    For days off and travel I still have some inspiration to think about bag choices more but not with the same enthusiasm than I used to. I spend weeks off tPF because I'm just not as interested as I used to be.
    For almost two decades, we've been urged to buy more, more, more - and many have, including me, but for most there comes a point where it all turns around against itself.
     
    Taylor_elle, chloe_chanel and doni like this.
  13. The women sitting opposite me on the train last night has an Osprey, it looked really nice, great leather.
     
  14. #15 Oct 13, 2018
    Last edited: Oct 13, 2018
    Very good points

    1. Most women already have too many bags
    2. There is a lot of competition which delays buying decisions.
    3. There's no incentive for buying more when one already owns better and the prices have no relationship to the quality or any other aspect of a new one.
    4. Designer bags are too expensive period. I did a cost analysis allowing for inflation and bags were still 1/3 higher than 10 years ago.
    5. There are no new designs
    6. Bags went smaller so many bought smaller but we still have bigger so now we have bigger and smaller
    7. The pre-loved market is now acceptable to most men and women
    8. The most desirable bags are old models