Exploring the Potential of $ 320 Mn Bags and Luggage Market of KSA: Packing innovations to stay ahead of the curve: Ken Research
The Saudi Arabia bags market consists of luxury and non-luxury bags sold online as well as the offline channel. Most of the bags and luggage sold in Saudi Arabia are imported, mostly from European and Asian countries. The growing customer inclination toward high-end luggage equipped with Global Positioning System (GPS) tracker, rising urbanization, and increasing disposable income are expected to drive the luggage market over the predicted years. This market is expected to witness a growth of ~7.0% in the next 3 years.
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1. Working population especially of age 20-50 years are Major Customers of the Bags and Luggage Market in KSA, highly influenced by Social Media and TV Commercials .
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Backpacks, Shoulder Bags, Laptop and Business Bags are the preferred category due to rising working age population in the country. Youngsters usually prefer purchasing a bag from offline retail shops whereas working professional (age 20-35 years old ) prefer online websites due to due to the attractive discounts and product varieties. Moreover, social media is the most popular marketing channel amongst the young population followed by TV commercials and celebrity endorsements due to high brand visibility.
2. Noon and Amazon are most preferred websites for all income age group due to huge variety of bags available in different sizes along with multiple discounts offered.
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Noon and Amazon are most preferred websites for all income age group due to huge variety of bags available in different sizes along with multiple discounts offered. Additionally, working Population (20-35 years old) usually Prefer online E commerce platforms for purchasing bags and luggage due to the Attractive Discounts and Product Varieties visible on the Platforms. Moreover, Amazon (Souq) is the most popular websites for Shoulder Bags and Wallets while Noon is more preferred for Backpacks, Duffel Bags, Cross Body and Wallets.
3. ~35 Million Saudi & Non Saudi Population of Different Income Group presents a Huge Potential for Different Variants of Bags and Luggage present in the Market.
Saudi Arabia is the Middle East’s largest country. It is the 41st most populous country in the world, accounting for an estimated 0.46% of the global population. The 35 million Saudi and non-Saudi population of various income groups represents a huge potential for the various types of bags and luggage on the market. Today, in accordance with its “Vision 2030,” the country is actively working to diversify its oil-based economy and provide its people with more and diverse economic and cultural opportunities, which is assisting the fashion industry to thrive and contributing to the growth of the KSA bags and luggage market.
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4. Seasonal Discounts during festive months of Eid and Ramadan, New year’s and Christmas are offered for high influx of customers in the Stores.
In Saudi Arabia, both Eid celebrations and Ramadan are a ten-day government holiday. These holiday presents many opportunities for a variety of marketing campaigns targeting Arab and Muslim consumers. Collaborating with destinations, hotels, and airlines for advertising promotions for special Eid offers, like discounted rates, or special feasts provides opportunities for the retailers to sell their products. Seasonal Sales, Islamic New Year, Increase in Tourism due to Hajj Festival and due to favorable weather conditions, people hang around in malls and public places leading to more visits in bags and luggage stores which increases the revenue of the industry.
