Market Trends of South America Handbags Industry
This section covers the major market trends shaping the South America Handbags Market according to our research experts:
Popularity of Leather Handbags
Leather purses are well-appreciated as a luxury fashion statement among women consumers. Also, the region exhibits widespread leather resources, with countries such as Argentina, and Columbia renowned for their high leather quality products. Several large-scale leather manufacturing firms are also focusing on in-house packaging and manufacturing to gain greater control over the entire supply chain activities. The handcrafting techniques, which are unique to South America enable aesthetic and ultra-luxurious designs. Handcrafted leather bags are gaining popularity among fashion-conscious millennial consumers. Further, the increase in exposure to handbags through e-commerce websites, social media, and celebrity endorsements is promoting consumer spending on leather purses and office bags. Growing consumer interest in sustainable fashion inspired by environmental consciousness is promoting product innovation in the industry such as vegan leather bags and upcycled leather bags. For instance, Volta Atelier, the Brazilian fashion house crafts handbags and other fashion accessories using 100% leather discarded by the leather goods industry in the country.
Brazil is Leading the Handbags Market
Brazil holds the largest share of the South Americ Handbags Market. The growth in the sector is mainly due to local brands diversifying the products and prices offered to target different consumer groups. Additionally, in recent years the country has seen improvement in both the quality and design of luxury handbags produced. The demand for vintage handbags is further boosting the sales of handbags in South America. Further, the well-developed network of multi-barns and single-brand stores along with individual fashion boutiques are enabling consumers to choose from a wide variety of handbags marketed by private labels and global luxury fashion brands. For instance, in October 2022, Balenciaga launched its Summer 23 collection in collaboration with Lay's, a snack food brand. The brand has created a bag that looks exactly like a packet of Lay's chips. Improved fashion sense, high disposable income, and penetration of online fashion stores are the key factors anticipated to drive handbag sales in Brazil during the forecast period.
