Garment Bag Market: Overview
Luggage is an essential part of the travel-related consumer goods market, and hence the garment bag market is also an important and integral part of it. Many types of travel bags available in the market depending on the purpose of the travel, business and casual use. Garment bag market is mainly driven by expanding travel and tourism industry. In today’s times, people are getting more concern about the visibility of all the products they using, and garment bag market is not an exception for that, because of this reason, demand for the smart bag is increasing and will continue to grow constantly. Many innovative features have brought out by garment bag marketers in front of consumers such as remote lock, self-driving wheels, connectivity, tracking sensors, inbuilt portable battery, proximity sensors, removal batteries and removal scaling.
Garment Bag Market: Market Dynamics
Technological development is a major factor in the market growth of garment bag market. Technology providers and garment bag manufacturers jointly giving innovative solutions to the target market. These developments give consumers to enjoy the journey with full comfort. Luggage tracking, remote locking, USB charging, self-driving wheels and sensor are some features introduces by the duo of manufacturers and technology providers.
The established players are having an important advantage from new entrants in this garment bag market is technological knowledge and ideas. Rapidly changing lifestyles and growing urbanization demand from customers is also making garment bag industries to grow at high-end. Garment bag market has suffered through the temporary impact of COVID-19 pandemic, as suddenly the travelling has stopped across the globe, which automatically reflects in the sale of garment bags. However, as everything is getting in normal condition, in the forecast period the garment bag market will also come back to the growing stage again.
Garment Bag Market: Market segmentation
Garment Bag Market segmentation on the basis of material type:
Depending on the mode of travel, the material used for the garment bag needs to be decided. Garment bag market has spread very broadly as per the choice of the consumers. As the competition is very high, consumers have many options for brand and materials. Consumers are always in seeking of a new trendy product when we talk about this garment bag as a target market, as consumers have started paying attention to the choice of way of living life.
Garment Bag Market segmentation on the basis of luggage type:
Depending on the purpose of carrying a garment bag and period of a journey the type of the bag can be decided.
Garment Bag Market segmentation on the basis of the distribution channel:
- Speciality Stores
- Factory Outlets
- Online Stores
There can be different types of retailers garment bag marketers can decide. The type of customers comes to the store or retailer shop is the basic idea suppler should have knowledge of, which will help to further decide what kind of target market they want as their consumers.
Garment Bag Market: Regional Analysis
The fashion trend in ASEAN and Asian countries is increasing day by day, which is leading to great grot in garment bag market. Trendy colour combinations, suitable shapes and sizes for clothing, textures are becoming very important in the current market. The number of travelling people globally is increasing and because of the online platforms the market is spread internationally and increasing very rapidly. North American and European countries like France, US, Canada they already ahead of any other regions in the world in fashion industries. Thus for the markets like garment bag market already have very big markets established in these regions. Like ASEAN countries, the Middle East and African countries also have started giving good response to the garment bag market sector and in the forecast period, it surely will improve on a higher level.
Garment Bag Market: Key Players
- JohnPac, LLC
- Columbia Packaging Group
- American Plastics Company
- Hubco, Inc.
- N. N. PRINT PACK
- Softline Brand Partners
- Frontier Bag Company
- ACE Packaging
The report on garment bag market is a compilation of first-hand information, and qualitative & quantitative assessment by industry analysts, as well as inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. Garment bag market also maps the qualitative impact of various market factors on market segments and geographies.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.