sales channels are those types of distribution channels that generate orders through the internet (including companys own internet sales channel and other independent e-commerce channels). The others segment includes supermarkets, hypermarkets, discounters, and small independent retailers.
Increasing urbanization is escalating demand for lifestyle products. To some extent, luggage is also considered as a lifestyle product, especially in developing countries. Earlier, people in developing countries used one luggage for all purposes such as travel, tour, and business. However, owing to growing urbanization and rising disposable income, their lifestyles have changed, which is also reflected in their usage of purpose-based luggage. Asian and African countries are expected to experience highest urban growth in the future. According to the China Development Research Foundation, urban population in China is expected to increase from 52.6% in 2012 to 70% by 2030. Urbanization is growing at a swift pace across Asia Pacific. Pacific countries such as Australia and New Zealand already have high urbanization.
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High net-worth individuals (HNWIs) refers to those people with liquid financial assets worth USD 1 million and above. There are several other hierarchies below them which are graded as affluent, and rich depending upon their liquid financial assets. The HNWI population, known for their lavish lifestyle, is increasing globally. This, in turn, is supporting the growth of the luggage market in terms of revenue. HNWIs tend to be more particular about their security and privacy as compared to the general masses. These individuals usually purchase high-end luggage such as those with in-built GPS tracking devices. According to the U.S. Wealth Report 2014 released by Capgemini and RBC Wealth Management in September 2014, the number of HNWIs in the U.S. was 4million in 2013. According to Bain & Company, a global management consulting firm based in the U.S., the number of HNWIs in China was 700,000 in 2013, almost twice as many as that in 2008.
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The major players in the global luggage market include Samsonite International S.A., Tumi Holdings, Inc., VIP Industries, VF Corporation, Briggs & Riley Travelware, Rimowa GmbH, MCM Worldwide, Louis Vuitton Malletier S.A., Goyard, and ACE Co, Ltd.
Chapter 1 Preface
1.1 Report Description
1.2 Research Methodology
Chapter 2 Market Synopsis
Chapter 3 Porters Five Forces Analysis
3.1 Bargaining Power of Suppliers
3.2 Bargaining Power of Buyers
3.3 Threat of Substitutes
3.4 Threat of New Entrants
3.5 Intensity of Rivalry
Chapter 4 Industry Overview
4.1 Market Definition
4.2 Market Drivers
4.2.1 Increasing urbanization and changing lifestyles
4.2.2 Growing interest of people in tourism
4.2.3 Growing number of high net-worth individuals
4.3 Market Restraints
4.3.1 Large unorganized markets in developing countries
4.3.2 Unstable raw material prices
4.4.1 Emerging technologies in the luggage industry are expected to fuel market growth
4.5 Market Trends
4.5.1 Increasing demand for ultra-light weight luggage
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