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Handbags - US - May 2009

Sales of purses and handbags have been strong in recent years, but the global financial crisis has served to slow sales growth. While all segments of the market have been impacted by recession in one way or another, the core mid-market offering is still in high demand.

This report provides a comprehensive analysis of the U.S. handbag market that will be useful to any manager in the industry. The report addresses a variety of topics and key questions including the following:

  • How has the average number of purses and handbags purchased per year changed between 2005 and 2009
  • Did the average price paid for a purse or handbag change between 2005 and 2009?
  • Did the average highest price paid for a handbag or purse in the previous year increase or decrease between 2005 and 2009?
  • Which segments of the female population have high concentrations of women willing to pay more than $100 for a purse or handbag
  • How the economy is encouraging or discouraging women from making handbag purchases
  • How the economy is impacting major handbag manufacturers

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Table of contents

  1. Scope and Themes

    • What you need to know
      • Definition
        • Consumer survey data sources
          • Abbreviations and terms
            • Abbreviations
            • Executive Summary

                • Market Size and Forecast
                  • Competitive Context
                    • Market Drivers: A Macro Perspective
                      • Market Drivers: A Psychographic Perspective
                        • Number of purchases in past year
                          • Number of handbags currently owned
                            • Total handbag expenditures in last year
                              • Highest price paid for a handbag in 2008
                                • Highest price ever paid for a handbag
                                  • Preferred method of payment
                                    • Attitudes towards handbags and barriers to purchase
                                      • Retail distribution
                                        • Leading companies
                                          • Race and Hispanic origin
                                          • Insights and Opportunities

                                            • The Knowledge Factor: Bargains and empowerment in high demand
                                              • Getting serious about mobile technology: Solar powered smart bags
                                                • Let your brand community help design
                                                  • Provide ways for women to customize bags and derive empowerment from their own label
                                                  • Inspire Insights

                                                    • Smart Shopping Gets Smarter
                                                      • What we’ve seen
                                                        • Specifics
                                                          • Implications
                                                            • Trading Up, Trading Down, Trading Over
                                                              • What we’ve seen
                                                                • Specifics
                                                                  • Implications
                                                                  • Market Size and Forecast

                                                                    • Key points
                                                                      • Pace of growth cools in response to recession, but women continue to buy
                                                                        • Figure 1: Total U.S. sales and forecast of purses and handbags at current prices, 2004-12
                                                                        • Figure 2: Total U.S. sales and forecast of purses and handbags at inflation-adjusted prices, 2004-12
                                                                    • Market Drivers: A Macro Perspective

                                                                      • Key points
                                                                        • Consumer Confidence stymied growth in 2008 but is on the upswing
                                                                          • Figure 3: Trended U.S. retail gas prices, average of all grades and formulations, 2001-08
                                                                          • Figure 4: Consumer sentiment index, 2001-09
                                                                        • Increase in number of 18-34 year olds will help to drive growth
                                                                          • Figure 5: Female population by age, 2004-14
                                                                        • Relatively high incomes contribute to market growth
                                                                          • Figure 6: Median household income by race/Hispanic origin of householder, 1997-2007
                                                                      • Market Drivers: A Psychographic Perspective

                                                                        • Key points
                                                                          • Affluents more likely to change buying habits in response to recession
                                                                            • Figure 7: Recession impact on shopping for purses and handbags, by household income, February 2009
                                                                          • Practical necessity, bargains and the search for the “It” look are the primary drivers of purchase for most women
                                                                              • Figure 8: Reasons for buying a handbag, July 2005- February 2009
                                                                            • 18-24 year olds more likely to be influenced by need, and the “fun factor”
                                                                              • Figure 9: Reasons for purchasing a purse or handbag in the past year, by age, February 2009
                                                                            • Affluent women somewhat more likely to buy for fun or special occasion
                                                                              • Figure 10: Reasons for purchasing a purse or handbag in the past year, by household income, February 2009
                                                                          • Number of Purchases in Past Year

                                                                            • Key points
                                                                              • Recession causes spike in purchase avoidance
                                                                                • Figure 11: Number of purses and handbags bought in the last year, 2005-09
                                                                              • 18-24 year olds are key target for moderate-priced bags
                                                                                • Figure 12: Incidence, frequency and average number of purses or handbags bought in the last 12 months, by age, July 2007-September 2008
                                                                              • Income is a good predictor of purchase frequency
                                                                                • Figure 13: Incidence, frequency and average number of purses or handbags bought in the last 12 months, by household income, July 2007-September 2008
                                                                            • Number of Handbags Currently Owned

                                                                              • Key points
                                                                                • Average number of bags owned holds steady
                                                                                  • Figure 14: Number of purses and handbags currently owned, trended, February 2005-09
                                                                                • 35-44 year olds heavy purchasers
                                                                                  • Figure 15: Number of purses and handbags currently owned, by age, February 2009
                                                                                • Affluent women buy more handbags
                                                                                  • Figure 16: Number of purses and handbags currently owned, by household income, February 2009
                                                                              • Total Handbag Expenditures in Last Year

                                                                                • Key points
                                                                                  • Average expenditures among women who made at least one handbag purchase increased between 2007 and 2009
                                                                                    • Figure 17: Total amount spent on handbags in the past year, trended, 2005-09
                                                                                  • 35-44s reported highest annual expenditures for 2008
                                                                                    • Figure 18: Total amount spent on handbags in the past year, by age, February 2009
                                                                                  • Affluents continued to spend in 2008
                                                                                    • Figure 19: Total amount spent on handbags in the past year, by household income, February 2009
                                                                                • Highest Price Paid for a Handbag in 2008

                                                                                  • Key points
                                                                                    • Highest price paid in the last year rose slightly in 2009
                                                                                      • Figure 20: Highest price paid for a handbag in the past year, 2005-09
                                                                                    • The vast majority of respondents did not spend more than $50 for a handbag in 2008
                                                                                      • Figure 21: Highest price paid for a handbag in the past year, by age, February 2009
                                                                                      • Figure 22: Highest price paid for a handbag in the past year, by household income, February 2009
                                                                                  • Highest Price Ever Paid for a Handbag

                                                                                    • Key points
                                                                                      • Average amount spent continued to climb in 2009
                                                                                        • Figure 23: Highest price ever paid for a handbag, 2005-09
                                                                                      • 35-44 year old group buys high-end bags on sale
                                                                                        • Figure 24: Highest price ever paid for a handbag, by age, February 2009
                                                                                    • Preferred Method of Payment

                                                                                      • Key points
                                                                                        • Debit card purchases rise
                                                                                          • Figure 25: Preferred payment method when buying a handbag/purse, 2007-09
                                                                                        • Middle-aged women somewhat more likely to use credit cards
                                                                                          • Figure 26: Preferred payment method when buying a handbag/purse, by age, February 2009
                                                                                        • Affluents more likely to use credit cards
                                                                                          • Figure 27: Preferred payment method when buying a handbag/purse, by household income, February 2009
                                                                                      • Attitudes towards Handbags and Barriers to Purchase

                                                                                        • Key points
                                                                                          • Most women feel a need for several bags, but not premium designer bags
                                                                                            • Figure 28: Attitudes towards purses and handbags, by age, February 2009
                                                                                            • Figure 29: Attitudes towards purses and handbags, by household income, February 2009
                                                                                        • Retail Distribution

                                                                                          • Key points
                                                                                            • Mass, online and “other” channel posts growth as women seek value
                                                                                                • Figure 30: Total U.S. sales of handbags, by retail channel, 2006 and 2008
                                                                                              • Value channels and department stores that run big promotions are most top-of-mind for handbag purchasers
                                                                                                • Figure 31: Stores where handbags were most recently purchased, February 2009
                                                                                            • Leading Companies

                                                                                              • Key points
                                                                                                • Many women unsure or unconcerned about brand
                                                                                                  • Figure 32: Handbag brands purchased in past year, February 2009
                                                                                                • Coach
                                                                                                  • Dooney & Bourke
                                                                                                    • Nine West
                                                                                                      • Liz Claiborne Inc.
                                                                                                      • Advertising and Promotion

                                                                                                        • Introduction
                                                                                                          • Print ads
                                                                                                            • Louis Vuitton Print ads
                                                                                                              • Nine West Print ads
                                                                                                                • Making the brand part of celebrity lifestyles: Dooney & Bourke
                                                                                                                  • Blogs and resale sites
                                                                                                                    • Purseblog.com
                                                                                                                      • Baghaus.com
                                                                                                                        • Facebook and social network tools likely to be utilized more in the future
                                                                                                                        • Race and Hispanic Origin

                                                                                                                          • Key points
                                                                                                                            • Black women who purchase are heavy users
                                                                                                                              • Figure 33: Incidence, frequency and average number of purses or handbags bought in the last 12 months, by race/Hispanic origin, July 2007-September 2008
                                                                                                                              • Figure 34: Number of purses and handbags currently owned, by race/Hispanic origin, February 2009
                                                                                                                            • Blacks report higher than average spending in 2008
                                                                                                                              • Figure 35: Total amount spent on handbags in the past year, by race/Hispanic origin, February 2009
                                                                                                                            • Black women often interested in mid-end bags and seldom spend more than $90 on a bag
                                                                                                                              • Figure 36: Highest price paid for a handbag in the past year, by race/Hispanic origin, February 2009
                                                                                                                              • Figure 37: Highest price ever paid for a handbag, by race/Hispanic origin, February 2009
                                                                                                                            • Black women less likely to use credit
                                                                                                                              • Figure 38: Preferred payment method when buying a handbag/purse, by race/Hispanic origin, by race/Hispanic origin, February 2009
                                                                                                                          • Cluster Analysis

                                                                                                                              • Everyday Ermas
                                                                                                                                • Who they are
                                                                                                                                  • Opportunity
                                                                                                                                    • Bargaining Bettys
                                                                                                                                      • Who they are
                                                                                                                                        • Opportunity
                                                                                                                                          • Pursuing Pamelas
                                                                                                                                            • Who they are
                                                                                                                                              • Opportunity
                                                                                                                                                • Cluster characteristics
                                                                                                                                                  • Figure 39: Handbag clusters, February 2009
                                                                                                                                                  • Figure 40: Number of purses and handbags bought in the last year, by handbag clusters, February 2009
                                                                                                                                                  • Figure 41: Total amount spent on handbags in the past year, by handbag clusters, February 2009
                                                                                                                                                  • Figure 42: Highest price paid for a handbag in the past year, by handbag clusters, February 2009
                                                                                                                                                  • Figure 43: Reasons for purchasing a purse or handbag in the past year, by handbag clusters, February 2009
                                                                                                                                                  • Figure 44: Attitudes towards purses and handbags, by handbag clusters, February 2009
                                                                                                                                                • Cluster demographics
                                                                                                                                                  • Figure 45: Handbag clusters, by age, February 2009
                                                                                                                                                  • Figure 46: Handbag clusters, by household income, February 2009
                                                                                                                                                  • Figure 47: Handbag clusters, by Hispanic origin, February 2009
                                                                                                                                                • Cluster methodology
                                                                                                                                                • Custom Consumer Groups

                                                                                                                                                  • Professional, non-Hispanic women with children often spend more on handbags
                                                                                                                                                      • Figure 48: Total amount spent on handbags in the past year, by high spending custom consumer groups, February 2009
                                                                                                                                                    • Educated working women and married affluents are frequent purchasers
                                                                                                                                                        • Figure 49: Incidence of purse/handbag purchase, number of purchases and average # bought in the last 12 months, by high purchasing cohorts, July 2007-September 2008
                                                                                                                                                      • Black women somewhat more likely to purchase frequently
                                                                                                                                                        • Figure 50: Incidence of purse/handbag purchase, number of purchases and average # bought in the last 12 months, black respondents by age and income, July 2007-September 2008
                                                                                                                                                    • Appendix: Other Useful Consumer Tables

                                                                                                                                                        • Figure 51: Reasons for purchasing a purse or handbag in the past year, by employment status, February 2009
                                                                                                                                                        • Figure 52: Recession impact on shopping for purses and handbags, by age, February 2009
                                                                                                                                                        • Figure 53: Incidence, frequency and average number of purses or handbags bought in the last 12 months, by level of education, July 2007-September 2008
                                                                                                                                                        • Figure 54: Number of purses and handbags bought in the last year, by household income, February 2009
                                                                                                                                                        • Figure 55: Number of purses and handbags bought in the last year, by age, February 2009
                                                                                                                                                        • Figure 56: Incidence of purse/handbag purchase, number of purchases and average # bought in the last 12 months, high income white, non-Hispanic and Asian respondents, July 2007-September 2008
                                                                                                                                                        • Figure 57: Number of purses and handbags currently owned, by marital status, February 2009
                                                                                                                                                        • Figure 58: Highest price paid for a handbag ever, by household income, February 2009
                                                                                                                                                        • Figure 59: Attitudes towards purses and handbags, by employment status, February 2009
                                                                                                                                                        • Figure 60: Total amount spent on handbags ever, by marital status, February 2009
                                                                                                                                                        • Figure 61: Number of purses and handbags bought in the last year, by race/Hispanic origin, February 2009
                                                                                                                                                    • Appendix: Trade Associations

                                                                                                                                                      Companies Covered

                                                                                                                                                      • Amazon North America
                                                                                                                                                      • American Apparel & Footwear Association (AAFA)
                                                                                                                                                      • American Apparel, Inc.
                                                                                                                                                      • Coach, Inc.
                                                                                                                                                      • Coldwater Creek (retail stores)
                                                                                                                                                      • Council of Fashion Designers of America
                                                                                                                                                      • Donna Karan International Inc.
                                                                                                                                                      • Dooney & Bourke Inc.
                                                                                                                                                      • Facebook, Inc.
                                                                                                                                                      • Fashion Group International
                                                                                                                                                      • Fashion Outreach
                                                                                                                                                      • Fossil
                                                                                                                                                      • Gallup Organization, The
                                                                                                                                                      • Goldman Sachs Group, Inc., The
                                                                                                                                                      • Greenfield Online
                                                                                                                                                      • Gucci Group N.V.
                                                                                                                                                      • Guess
                                                                                                                                                      • International Council of Shopping Centres
                                                                                                                                                      • JCPenney (department stores and catalog)
                                                                                                                                                      • Jones Apparel Group
                                                                                                                                                      • Jones Soda Co.
                                                                                                                                                      • kate spade LLC
                                                                                                                                                      • Kmart Corporation
                                                                                                                                                      • Kohl's Corporation
                                                                                                                                                      • Liz Claiborne Inc
                                                                                                                                                      • LVMH Moët Hennessy Louis Vuitton SA
                                                                                                                                                      • Macy's, Inc.
                                                                                                                                                      • National Fashion Accessories Association (NFAA)
                                                                                                                                                      • National Retail Federation (NRF)
                                                                                                                                                      • Neiman Marcus (retail stores)
                                                                                                                                                      • Nine West USA
                                                                                                                                                      • Phat Fashions LLC
                                                                                                                                                      • Prada USA Corp.
                                                                                                                                                      • Saks Incorporated
                                                                                                                                                      • Sears Holdings Corporation
                                                                                                                                                      • Sprint Nextel Corporation
                                                                                                                                                      • Target Corporation
                                                                                                                                                      • The Conference Board
                                                                                                                                                      • The New York Times Company
                                                                                                                                                      • Tommy Hilfiger Corporation
                                                                                                                                                      • Tote
                                                                                                                                                      • U.S. Bureau of the Census
                                                                                                                                                      • University of Michigan, The
                                                                                                                                                      • Vera Bradley Designs Inc.
                                                                                                                                                      • Vera Wang
                                                                                                                                                      • Verizon Communications Inc.
                                                                                                                                                      • Verizon Wireless (Cellco)
                                                                                                                                                      • Walmart Stores (USA)
                                                                                                                                                      • Xoxo Clothing Company, Inc.
                                                                                                                                                      • YouTube, Inc.
                                                                                                                                                      • Zappos.com Inc.

                                                                                                                                                      Handbags - US - May 2009

                                                                                                                                                      £3,277.28 (Excl.Tax)