How To Make More Travel And Business Bags Market By Doing Less
Posted by ruchiwalt on November 13th, 2019
The global travel and business bags market has been segmented into 6.80% during the forecast period. Based on the distribution channel, the global travel and business bags market has been segmented into offline and online.
The revenue of the offline distribution channel has been declining gradually over the years because of the shift in consumer preference for online shopping. Market players are expanding their stores to the local and regional markets to fuel the sales through offline channels. Manufacturers of travel and business bags sell their products through specialty stores and other retailing formats, which include hypermarkets, supermarkets, convenience stores, and clubhouse stores as well as department stores. This market scenario intensifies the competition.
Thus, to sustain in the competitive market and due to declining preference for offline shopping, retailers are introducing new business and retail strategies, including better pricing strategies and wider assortments. For instance, LVMH, one of the key players operating in the global travel and business bags market, raised its marketing and selling expenses by 8% in 2018. Hence, the offline distribution channel segment of the global travel and business bags market will witness steady growth during the forecast period.
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