May 2, Content info: These would be shipped by professional movers. Since the second world war, smaller and more lightweight suitcases and bags that can be carried by an individual have become the main form of luggage. A modern traveller can be expected to have packages containing clothing, toiletries, small possessions, trip necessities, and on the return-trip, souvenirs.
The market for luggage in India can be subdivided into three segments, comprising of the premium, regular and economy segment. The cu rrent growth rate of each of these segments shows that the premium segment is the fastest growing one — five times as fast as the economy segment, and n,vo and a half times as fast as the regular segment.
Assistance is provided by manufacturers to the franchisee — Companies are targeting the mid segment y offering value for money products and high end segment by tying up with global brands — Large pool of consumers is attracting foreign players — The preference of consumers is shifting to soft luggage — Luggage manufacturers are adding new product categories Pre- Period: During this period, the companies were more interested in volume sales rather than satisfaction.
Quality of the Indian luggage at that time was suited mostly for the low end mass market and not for the premium end quality conscious customer. Innovations were very few. People had got used to the old type of luggage which had a top, a bottom and a lock to keep it intact.
The manufacturing process concentrated more on volumes than on quality. And surprisingly, nobody was complaining.
The reason was the lack of quality awareness among the customers. The battlefield comprised of VIP Industries and Safari to name a few until the entry of world number one, Samsonite International, in late Till then competition was restricted to sales.
Service and customer satisfaction did not assume importance. In short, it was more of selling than marketing. This was the period when the industry witnessed a paradigm shift in terms of quality and service.
Liberalized baggage rules, presence of multinationals and freer import of luggage helped the Indian consumer to access international quality luggage.
In fact it ushered in a phase where even the domestic companies showed the keenness to compete with the foreigners instead of following them. While between and 1 VIP had registered only eight new designs, in the next years and the company registered 16 design patents.
The Indian consumer today has more choice than before. Political Environment Government has placed the raw materials required for the industry under OGL Open general license. Raw materials can be freely imported.
There is no restriction on the export of finished product and very little barriers are there for foreign firms to enter into Indian market. International prices of raw materials are highly flexible.
There is no policy to control the burgeoning grey market. Social Environment Luggage sales show a peak during the marriage season. This season witnesses a spate of purchases of luggage. The positive signal in the growth of the economy works well for the luggage industry. The growth in the tourism industry affects the performances of the luggage industry.
Technological Environment Technology is also developed in manufacturing of the luggage with specialized moulding materials used to mould the plastic material.Market research report on the Bags and Luggage industry, with Bags and Luggage market share, industry trends, and market analysis..
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Learn More Custom Research Projects. Pest Analysis Of Luggage Industry. PEST ANALYSIS A PEST (Political, Economic, Social and Technological) analysis is a major part of the environmental scanning section of strategic management and it is used by companies during market research and strategic analysis.
Industry analysis (%): What is the driving forces changing the luxury handbags and leather accessories industry globally? Defining luxury goods is the key to answering this question, they are items not considered essential to the consumer and are often associated with affluence and abundance.
Luggage Market Research Reports & Industry Analysis Corporation and organizations involved in the manufacturing and retail selling of luggage products, or better known as the luggage industry, are changing all the time. Evolving technologies in the luggage industry are expected to boost the market growth, in the forecast period.
Due to growing disposable income and increasing urbanization, the lifestyle of people has changed, and the demand . Global Luggage Market: Industry Analysis & Outlook - The current report analyzes the trade scenario of the global travel goods industry.
Also, the US, European Union and Indian luggage markets are being presented in the report.