US handbag sales increase
12/05/2016
Overall US handbag sales rose 5% last year when compared to 2014 but milennials have only increased handbag sales by 2%, meaning the growth in the industry is mostly thanks to baby boomers with more disposable income.
According to the report, conducted in partnership with consumer insights company Stylitics, milennials are less prone to impulse buys and are likely to spend more time researching online before committing to a purchase. 41% of those surveyed said they spend at least a month thinking about which handbag to buy.
This increased research, which mainly focuses on the attributes of the product than the logo it carries, also means that they are more likely to purchase from an emerging label rather than plump for an established designer brand.
Share this story:
