The market for women’s handbags is declining

ales of women’s handbags and handbags in the United States fell 20 percent in the first nine months of 2019 compared with the same period in 2016, NPD group, a market research firm, reported on Oct. 9.

NPD group, a market-research firm, released a report on October 9th showing that sales of American women’s handbags and handbags fell by 20% in the first nine months of 2019 compared with the same period in 2016.

Beth Goldstein, accessories and footwear analyst at NPD group, said in a report, “this is clearly not a temporary phenomenon, but a major change in the market that we should be wary of.”

 Meanwhile, according to a new report from Piper Jaffray, the investment bank, teenage spending on handbags in the us has fallen to an 18-year low.According to the bank’s survey, more than 9,500 teens were surveyed.

 Piper Jaffray surveyed more than 9,500 teens and found that female shoppers spent an average of $90 a year on handbags.But it’s worth noting that the average person spent $197 on a bag in 2006.

 There are many reasons for the decline in the average consumption of LED outfit,LED dance costume,stage costume with LED,LED clothing,LED clothes,

 More relevant data show that consumers’ buying habits and the changing environment have led many to spend money on other categories.A big part of the reason is that people in this age group are more sedentary, so consumers are more willing to spend their money on entertainment or electronics.

 In addition, there are still many people willing to spend money on bags, but their demand for bags has changed from traditional bags to sports bags.In other words, the more versatile the bag, the more likely they are to choose it first.

 Another reason is that fashion bags have lost their status as status symbols because of excessive exposure to social media, which makes most consumers disobedient.

 But another benefit of social media is that it lets consumers know about a new product faster and makes it known to more people.And find new brands, or favorite products, in different channels.

 Having status symbols.

 Luxury down jacket brand Canada goose has seen its sales soar in recent years, and one of the reasons is that Canada goose is a status symbol.

 Piper Jaffray’s fashion and lifestyle brand analyst Erinn Murphy sees shoes rising as handbags decline, and Goldstein sees sneakers as a new status symbol.

 Despite the rise of the second-hand luxury market, many luxury goods are feeling the crisis.But it’s not all bad news, because the emergence of the second-hand luxury market also makes luxury goods more effective in preserving their value.