KEY DATA ON THE MARKET
- China is the second large handbag market with 6.39 billion USD in revenue in 2022.
- It is predicted that the Chinese handbag market value is going to increase in the following years with an average growth rate of 9%.
- Online sales of handbags are taking 67.5% of the total sales in 2022.
- Reproduced vintage handbag is a new and niche industry in China.
- Chinese customers want something unique and show their personality to stand out from 1.4 billion people.
- Chinese customers are used to checking information on Little Red Book before making a purchase.
MAIN STRATEGIC OPERATION
Little Red Book