The consumer & retail industry used to be simply based on demand & supply. It was a self-regulated industry that was slightly volatile in its functioning. Manufacturers, wholesalers, retailers and consumers, this is how the industry functioned. It grew with the economy of a country and the purchasing power of the people. However, there was a vast inconsistency in the consumer & retail sectors across the world. Governments tried to regulate it but unsuccessfully. Then came the big game-changer - E-commerce. It became a whole new segment. Manufacturers, warehouses, and consumers, this is how the products are now moving. Since this is a technology-based platform, it can be regulated. Product prices have dropped, buying power has increased, and there regulated growth all around. However, this has not hurt the traditional model, consumer needs are also fueling demand there. Therefore, one can surmise that the consumer & retail industry is in one of its best phases. However, this also means there will be a lot of trial and error methods that will be conducted. And as an investor, you have to be careful. Rewards are high, but the risk is also high. You can negate these risk factors with reports from Market Research Port. We have a wide range of reports that will help you piece together the right investment opportunities.
Market Research Port forecasts that the luxury handbag market will experience a compound annual growth rate (CAGR) of 8.20% from 2022 to 2029. With a market value of USD 22.61 billion in 2021, it is projected to reach USD 42.48 billion by 2029.