Bags and Purses Market in Japan: Key Research Findings 2017
- Research period: From December 2017 to February 2018
- Research objects: Manufacturers, wholesalers, and retailers in the industry of bags, purses and belts, companies in the peripheral industries (manufacturers, wholesalers and suppliers of materials such as leathers/artificial leather, fabrics/textiles, secondary materials, and etc.,) importers and exporters.
- Research methodologies: Face-to-face interviews by the expert researchers, mail-in questionnaire, and literature research of statistics and data from relevant public offices and industrial organizations
What are Bags and Purses?
The “bags” in this research mainly indicate large bags for men and the “purses” mainly indicate handbags or pouches for women. The categories of “business bags”, “traveling bags”, “handbags”, “wallets/leather goods”, and “belts” are also included. Among entire bags and purses market, the market size of imported brands and licensed brands are calculated based on the calendar year rather than the fiscal year.
Summary of Research Findings
- Size of FY2016 Domestic Bags and Purses Market Declined to 1,084.7 Billion Yen, 99.4% on Y-o-Y Basis, FY2017 Expected to Rise Slightly to 100.9% on Y-o-Y Basis
The domestic bags and purses market based on the retail value ended up with 1,084.7 billion yen in FY2016, 99.4% of the size of the previous fiscal year, and is expected to rise to 1,094.2 billion yen in FY2017, 100.9% of the size of the preceding fiscal year. In spite of the domestic consumption by the middle-income class continue being sluggish, such marketing strategies that shifted to Japanese customers from those relied on inbound tourism demand are likely to effectively raise the market size, though very slightly and almost levelling off.
For the future, diverse products and services are anticipated to be generated in the market, for instance, such services specializing on rental of high-end bags and on repairing of business bags, those products to acquire so-called millennial generations, and through market entry by the different industries such as apparel and jewelry. The domestic bags and purses market in FY2018, therefore, is projected to increase to 1,106 billion yen, 101.1% on year-to-year basis.
- Though Domestic Brand Bags Market Slightly Declines, Development of Novel New Products Invigorates
Among the entire domestic bags and purses market, the market size of the domestic brand bags was 415.8 billion yen in FY2016, 99.8% on year-to-year basis, and projected to be 412.0 billion yen in FY2017, 99.1% also on Y-to-Y basis, both based on the retail value.
Since the domestic brands are not restricted by the license, the industry has been exploring new markets by using the advantage of unfettered thinking without any limitation that can quickly be adopted into product development. For example, the recent attention to the sports fashion has a possibility to develop into sports-and-business demand, and the recent tendencies of paperless and electronic payment may require smarter, or smaller and thinner types of bags and purses. The domestic bags and purses market has been invigorated by the product planning for developing unique functionality.
- Figure &Table 1: Transition of Size of Domestic Bags and Purses Market
- Figure 2: FY2016 Bags and Purses Retail Market Share by Category