Printed
December 3, 2024
New information from wholesale platform JOOR referring to the purse market has highlighted a “significant” shift to lower-priced types, in addition to underlining the continuing dominance of tote luggage.
JOOR
The purse class has been flat over the previous three years as a proportion of whole transaction quantity on JOOR, however inside it, there have been some notable actions.
Analysing retailers’ orders within the class from 2021 to 2024, it stated the biggest development was within the $250-$500 retail value bracket, rising from 63%-70% of all items bought. And there was a drop in value brackets over $500, with essentially the most pronounced drop seen within the $1,000+ class that greater than halved from 7% to three% of all purse orders as retailers regulate their assortments in response to adjustments in shopper demand.
As talked about, style-wise, the tote has seen essentially the most dramatic vote of confidence. From 2019 as much as 2024, it went from a pre-pandemic 12% of whole purse items bought to a excessive of fifty% in 2023. It is again to 41% this yr however remains to be the largest sub-category general.
Final yr additionally noticed shoulder luggage rising to 17% from 13% and high deal with luggage rising to eight% from 5% final yr whereas backpacks went to five% from 3%.
As we’ve seen, totes are the most well-liked sub-category, adopted by cross physique (21%), shoulder luggage, high deal with (8%), hobo/bucket bag (5%) and backpacks.
Regionally, North America is dominated by the accessible luxurious phase with 84% of purse items within the $250-$500 value bracket, whereas APAC has the best penetration of purses beneath $250 at 57%. EMEA has the best penetration of luxurious purses, with 10% over $1,000 and 35% over $500, whereas South America most carefully mirrors EMEA with a balanced assortment throughout all value brackets.
And brand-wise, European labels proceed to dominate the luxurious market with 90% of $1,000+ luggage coming EMEA-based manufacturers (a scenario that has been constant prior to now half-decade).
