Handbag sales down.

[papertiger]

Interesting reading, many thanks. 8% is huge.

I wonder whether it has to do with the younger generations too. My impression is that at the younguest segment things are possibly hanging on the Asian market (well, at all leves but...)? When recently in Bangkok I was surprised to see so many young girls holding handbags. And it made me realize that in Europe that is no longer so much the case. And I say it as the mother of a teenage girl who asked for a Falabella for Christmas. But was she mostly wears is a nylon Eastpack Fanny bag. Over here you see so many University students with Kanken and other backpacks when it used to be NF and its lookalikes. My daughter is more interested in fashion than most, and hence in my bags. But I wonder, because she like her friends are very aware of sustainability issues and the like and I can see they may have a problem with leather moving forward. Also, there is fashion fatigue, and handbag fatigue, and consumerism fatigue, all the minimalist movement, focus on experiences etc... I wonder as this generation becomes part of the buying market, this has started to have an impact?

That's also a new marketing con (sorry for the rants everybody ). The PU/PVC/nylon/plastic options have all been re-branded as vegan so they can up-sell (charge more for).

Since my experience is with mostly 18-24 students, I do think Gen Y were the youngest set to spend lots of money on designer bags, (as an X-er) it did surprise me to see apparently impoverished students carrying tech/books in Chanel. LV etc. Now, along with the Manga coloured hair, the underwear as outerwear and activism/veganism (in my grunge/My So-Called Life youth I would have fit right in) I see Gen Z is distancing themselves from their previous Millennial brothers and sisters. The fact that they are also fodder for new marketing is not surprising, we always see a cycle of 'anti-fashion' follows obsession with fashion. If this news shakes things up though then great, I just hope the shoe slump follows, I can't find a pair of great boots this year under $1.5K and when I surrender to buying these ridiculously priced foot-art, my size is sold out.

 

[starbucksqueen]

I'm no sweet, young thing! I often carry a backpack; a larger one in black leather that doesn't scream bookbag. I have other backpack/handbag models also. It suits my aging back and my urban lifestyle.
The consumer base is changing. Aging baby boomers have all the bags they will need. The oldest of the boomers are over 70 and many will not be purchasing so many bags. Your buying habits change with lifestyle and income. in addition, many of those bags are replaced with fabric or "vegan" (rebranding of toxic PVC as vegan really grates on my nerves--but that's another thread.) materials and a backpack suits a more relaxed lifestyle.

 

[lulu212121]

I'm no sweet, young thing! I often carry a backpack; a larger one in black leather that doesn't scream bookbag. I have other backpack/handbag models also. It suits my aging back and my urban lifestyle.
The consumer base is changing. Aging baby boomers have all the bags they will need. The oldest of the boomers are over 70 and many will not be purchasing so many bags. Your buying habits change with lifestyle and income. in addition, many of those bags are replaced with fabric or "vegan" (rebranding of toxic PVC as vegan really grates on my nerves--but that's another thread.) materials and a backpack suits a more relaxed lifestyle.

This! I don't mind fabric bags (materials matter, though) but pvc is not good for the environment. I've never met a vegan who wasn't an environmentalist. I don't get it.

 

[2cello]

Now that you’ve pointed this out, I’m noticing flat handles everywhere. Gah! It does look cheapie.

It tales a lot of work to make a proper rolled handle that fits a hand, Now even on handbags and hand-held bags there are just flat straps.

Even the straps on H's new Cinhetic bag has a thin chain and flat handle that's basically just two flat straps glued together - that bag cost serious money.,