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Shoulder bags are a type of handbag designed to be worn on the shoulder. The fashion industry is expected to have a direct impact on the latest collections of shoulder bags that are launched.

Rise in disposable income, increase in per capita consumption, and change in lifestyle are major factors driving the sale of shoulder bags worldwide. The desire to own multiple shoulder bags for various occasions is influencing consumer behavior, thereby fuelling the sale of shoulder bags. The luxury and premium shoulder bags market is expanding, as a luxury or premium shoulder bag has become a popular fashion accessory for men and women.

Major players in the market are introducing new designs and reforming existing ones due to growing competition and rising demand arising from rapid changes in the fashion industry. Manufacturers are constantly expanding their product portfolio in order to cater to the evolving needs of customers.

The fashion industry has been experiencing rapid changes over the last two decades, owing to a rise in the number of fashion conscious consumers across the globe. Key players in the shoulder bags market adopt different strategies and marketing campaigns to expand their reach in the global market. Furthermore, rising usage of big data by shoulder bags manufacturing companies is a major trend that is anticipated to gain more traction during the forecast period. Multiple brands are trying to know more about their customers to avoid styles that don't appeal to consumers.

In the recent times, labor costs have risen rapidly, owing to changing economic conditions, thereby increasing the production cost. Rise in production cost is a key factor restraining the shoulder bags market. Volatility in raw material prices is also anticipated to hinder the market during the forecast period.

The global shoulder bags market can be segmented based on type, material, closure type, consumer group, distribution channel, and region. In terms of type, the market can be classified into hobo, baguette, shopper, messenger, satchel, tote, bucket, and others. Satchel and tote segments accounted for a major share in the global shoulders market. Based on material, the shoulder bags market can be divided into leather, fabric, plastic, and others. Leather handbags fall under the promoted and most in-demand segment of the market. This is because leather offers a premium feel and appearance to products. Moreover, the durability of leather also attracts customers to buy leather products such as leather handbags. In terms of closure type, the market can be split into magnetic snaps, loop and button, and zippers. Based on consumer group, the shoulder bags market can be bifurcated into women and men. In terms of distribution channel, the shoulder bags market can be divided into online and offline channels. The offline channel segment can be further sub-divided into hypermarkets & supermarkets, specialty stores, and brand stores. The arrival of multiple brands and their easy availability through various offline channels and online retail channels is significantly driving the market. Based on region, the global shoulder bags market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Youngsters and adult women are among the top users of shoulder bags worldwide.

The shoulder bags market has been witnessing increased competition in the last few years. The market is expected to become more competitive in the near future owing to product innovation. A large number of players operate in the shoulder bags market which makes the market fragmented in nature. Key players involved in the value chain are Tapestry, Inc. (Coach), Kate Spade New York, LVMH Moët Hennessy, Michael Kors, Ted Baker Plc, Baggit, Hidesign, Fossil Group, Inc., Guccio Gucci S.p.A., Burberry Group PLC, Chanel S.A., Christian Dior SE, Hermès International S.A., Jimmy Choo, Hugo Boss AG, and Industria de Diseño Textil, S.A. (Zara).

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
  • Europe
  • 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?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

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Shoulder Bags Market

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