Luggage Industry- Bagging the Profits Successfully


Pack Your Bags!!

LuggageLife is a journey and all of us are travelers. Everyone of us travels for some or the other purpose in our lifetime. Sometimes for holidays, for business tours, for expedition and sometimes in emergency. Travelling is a recurring process in human lives. It continues throughout our lifetime. And when it comes to journey, you have to carry some stuff with you. Your clothes, daily essentials, toiletries and sometimes gifts and other articles for your friends and family.  But to carry all these things you need to pack all these. And for that purpose the bags and suitcases are the things you need. A bag is a commodity which carries all your belongings and necessary items while going on a journey. Many a times, in short trips, the bag is the place where you keep your things safe as you do not have time or feel necessary to unpack. Hence, it is impossible to think about making a journey without them.

There are many different types of baggage to choose from, each with its own pros and cons. These suitcases and bags come in various sizes, shapes and colors. Not only can one choose different types, but one can also determine whether the structure is hard, soft or semi-soft. Unlike the heavy trunks which used to come in the early days, these items are light and agile in nature now a days. Hard luggage, soft luggage, duffles, small bags, briefcase, laptop bags, bag packs, etc. are the type of travel gears which are available in the market. Most of them now come with extension handles and wheels attached to them. They are easier to carry, pull, push and move around dissimilar to the large suitcases which used to throw us into a dilemma of transporting and carrying them along with us. Apart from being just a necessity while travelling, these bags have also become a style statement today. They come in stylish, vibrant and funky colors, no longer restricting your choice to the age-old black, navy blue, brown, etc. Industrial revolution, scientific, social and political developments in the past century have changed the pattern and quantum of travelling forever. Being a necessary part of travelling, the demand for luggage also inevitably experienced an enormous leap. The luggage industry comprises several organized and unorganized players. Some are producing bags and suitcases at a small scale level while there are major companies too; which hold a good position in this sector. VIP, Samsonite and American Tourister are some big enterprises in the luggage and bag market. Apart from that, they also manufacture leather apparels, belts and wallets as well.

According a market analysis report, the Global Luggage market is set to grow at a CAGR of 8.1 percent CAGR over the period 2012-2016. The travel and tourism market is a key driver of luggage business, which is aiding in its continuous expansion with global inbound tourists reaching 1.0 billion for the first time in 2012. One of the fundamental elements contributing to this market growth is the increasing disposable income of the consumers. The Global Luggage market has also witnessed a trend of an increased per capita expenditure on luggage by the consumers. However, the increasing competition from local brands and counterfeit products can pose a challenge to the growth of organized sector of this market.