Bags

KEY DATA ON THE MARKET

• Chinese shoppers spent 741 billion CNY on luxury goods in 2021.
• The average amount spent on a luxury handbag is approximately 3 435€ (27,000 RMB).
• The top 5 bags and leather goods luxury giants in China are Hermès, Louis Vuitton, Gucci, Dior, and Chanel handbags.

CONSUMER INSIGHTS

• The main criteria for purchasing a leather goods product are Design, Brand, and Materials.
• In the bag market, design prevails over the brand.
• KOLs help to create excitement around the release of a new bag by presenting it to its community.

MAIN STRATEGIC OPERATION

• Little Red Book
• Tmall
• WeChat