Luggage and Leather Goods Retailing in South Korea - Market Summary and Forecasts ; Comprehensive overview of the market, consumer, and competitive context, with retail sales value and forecasts to 2019

Luggage and Leather Goods Retailing in South Korea - Market Summary and Forecasts ; Comprehensive overview of the market, consumer, and competitive context, with retail sales value and forecasts to 2019

Code: CON-RT0281SR | Published: Dec-2015 | Pages: 49 | Conlumino
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South Korea's luggage and leather goods retail market is expected to be the sector with healthy growth during the forecast period. The retail market for luggage and leather goods will witness a CAGR of 8.5% over 2014-2019, to reach KRW3,001 billion by 2019. Per capita spending on luggage and leather goods in South Korea is also anticipated to grow at a CAGR of 8% over the next five years.

Key Findings
- Luggage and leather goods sales accounted for a marginal share of 0.7% of the total retail sales in 2014.

- Commanding a 32.7% share of the overall sales in the segment, specialist retailers dominate the luggage and leather goods market in South Korea.

- Online is the fastest-growing channel in the luggage and leather goods category.

Synopsis
"Luggage and Leather Goods Retailing in South Korea - Market Summary and Forecasts" is a detailed sector report providing a comprehensive analysis of the emerging trends, forecasts and opportunities to 2019.

What else does this report offer?

- A thorough analysis of consumer trends changing economic and population factors

- Both qualitative and quantitative insights and analysis of the shifting luggage and leather goods retail dynamics from 2009 to 2019

- Sales of luggage and leather goods through the following channels from 2009 to 2019: Department stores; other specialist retailers; online; hypermarkets, supermarkets and hard-discounters; value, variety stores and general merchandise retailers; other general and non-specialist direct retailers; cash and carries and warehouse clubs; duty free retailers; clothing, footwear, accessories and luxury goods specialists

- An overview of key luggage and leather goods retailers operating across South Korea and their presence across distribution channels

Reasons To Buy
- Gain a comprehensive knowledge on luggage and leather goods sector in the South Korea retail market and develop a competitive advantage from the start of your supply chain

- Investigate current and forecast behaviour trends in luggage and leather goods category to identify the best opportunities to exploit

- Analyze the recommended actions to align your marketing strategies with the crucial trends influencing the consumer behavior

- Understand the fastest growing categories including luggage and leather goods, with insights on performance across key channels from 2009, with forecasts until 2019

- Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer and technology trends influencing the luggage and leather goods market

- Analysis of key international and domestic players operating in the luggage and leather goods market - including store counts and revenues that give you a competitive edge - identify opportunities to improve your market share

Table of Contents

1 Introduction
1.1 What is this Report About?
2 Executive Summary and Outlook
3 Market Context
3.1 Steady economic factors to benefit retailers
3.1.1 South Korea's export-reliant economy is at cross roads
3.1.2 Steady rise in savings rate is a concern for retailers
3.1.3 Services sector continues to be the major sector for employment
3.1.4 Low inflation levels to benefit retailers
3.1.5 Rise in consumption expenditure- a positive sign to reckon with
3.1.6 Increasing urbanization offers growth opportunities for retailers
3.2 Aging population pose challenges for retailers
4 South Korean Shoppers
4.1 Retailers adopting omnichannel strategies to increase their customer base
4.2 Surge in m-commerce with the rise in smartphone ownership and mobile internet penetration
4.3 Increasing adoption of private label brands threatens national brands
4.4 Social commerce is on exponential rise in South Korea
4.5 Luxury retailers are targeting affluent locals
4.6 Herd consumption behavior rampant in South Korean society with the desire for self-satisfaction growing among single workers
4.7 Increasing number of international tourists contributing to retail sales
5 Doing Business in South Korea
5.1 Summary
5.1.1 Bureaucracy
5.1.2 Business culture
5.1.3 Infrastructure and logistics
5.2 Business reforms in South Korea in the recent past
5.3 Korea eases rules for foreign investors
6 Retail - Product Sectors
6.1 Product Sector Analysis
6.1.1 Luggage and Leather Goods
6.2 Luggage and Leather Goods Category Overview
6.2.1 Luggage and Leather Goods
6.3 Major Retailers
7 Appendix
7.1 Definitions
7.1.1 This report provides 2014 actual sales; while forecasts are provided for 2015 - 2019
7.2 Summary Methodology
7.2.1 Overview
7.2.2 The triangulated market sizing method
7.2.3 Industry surveys in the creation of retail market data
7.2.4 Quality control and standardized processes
7.3 About Conlumino
7.4 Disclaimer


List of Tables


Table 1: South Korea Luggage and Leather Goods Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 2: South Korea Luggage and Leather Goods Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 3: South Korea Luggage and Leather Goods Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 4: South Korea Luggage and Leather Goods Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 5: South Korea Luggage and Leather Goods Retail Segmentation, by Channel Group, 2009-2019
Table 6: Key Luggage and Leather Goods Retailers in South Korea
Table 7: South Korea Exchange Rate KRW-USD (Annual Average), 2009-2014
Table 8: South Korea Exchange Rate KRW-USD (Annual Average), 2015-2019 Forecasts
Table 9: Conlumino Retail Channel Definitions
Table 10: Conlumino Retail Category Definitions


List of Figures


Figure 1: GDP Value (US$ billion), 2009-2014
Figure 2: Growth Rate of GDP (US$ billion, %), 2009-2014
Figure 3: GDP Value and Growth (KRW billion, %), 2008-2014
Figure 4: Forecasts for GDP Value and Growth (KRW billion, %), 2014-2019
Figure 5: Household Savings Rate (%), 2004-2014
Figure 6: Share of Employment by Sector (%), 2004 and 2014
Figure 7: Unemployment Rate (%), 2005-2014
Figure 8: Inflation Growth Rates (%), 2004-2014
Figure 9: Household Consumption Expenditure of South Korea (KRW billion), 2004 and 2014
Figure 10: Household Consumption Expenditure of Major Countries (US$ billion), 2014
Figure 11: Growth of Household Consumption Expenditure (US$, %), 2004-2014
Figure 12: Rural and Urban Populations (millions) 2004, 2014 and 2019
Figure 13: Total Population and Growth Rate (Millions, %), 2004-2019
Figure 14: Population Split by Gender (%), 2014 and 2019E
Figure 15: Population Split by Age Group (%), 2014 and 2019
Figure 16: Per Capita Spend on Retail (KRW), 2006 and 2014
Figure 17: Per Capita Spend (KRW) and Total Retail Spend by Age Group (%), 2006 and 2019
Figure 18: Retailers Adopting Omnichannel Strategies
Figure 19: Increasing penetration of M-commerce
Figure 20: Private label products offered by leading Korean retailers
Figure 21: Size of Korea's s-commerce market (2010-2014)
Figure 22: Luxury retailers strategizing to attract affluent locals
Figure 23: Tourist arrivals to South Korea, (in thousands), 2009 and 2014
Figure 24: Key Components of Doing Business in South Korea
Figure 25: Share of Luggage and Leather Goods in overall Retail 2014 and 2019
Figure 26: Retail Sales Value and Growth (KRW billion, %) of Luggage and Leather Goods 2014-2019
Figure 27: Spend per Head on Luggage and Leather Goods 2014 and 2019
Figure 28: Online Spend in Luggage and Leather Goods 2014-2019
Figure 29: Online Share of total Luggage and Leather Goods Spend 2014 and 2019
Figure 30: Spending per Channel in Luggage and Leather Goods (%) 2014 and 2019
Figure 31: South Korea Luggage and Leather Goods Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 32: The Triangulated Market Sizing Methodology
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