What developments will the luggage&bags industry seek in 2021? What will be the financing situation of the luggage&bags industry in the future?

There are more and more Chinese companies attending luggage & bags exhibitions at home and abroad, and a large number of Chinese companies participate in almost every exhibition every quarter. Many companies appeared at domestic and foreign exhibitions, which played a very important role in promoting the production and trade of China's luggage & bags industry. With the arrival of the industrial re-adjustment and reshuffle of China's luggage & bags industry. China's luggage & bags industry is forming a new industrial pattern. The factors affecting the transfer of these traditional labor-intensive industries mainly depend on the cost of land, labor, market logistics, and the matching of upstream, middle and downstream industries, of which land and labor are the most direct factors. Faced with the overwhelming industry reshuffle, whether to shrink back, close the door, or work hard, pioneer and innovate, face difficulties, seize the development opportunities of industrial adjustment, and carry out a new round of major development, this is the business that the two roads in front of us.

What developments will the luggage & bags industry seek in 2021?

After 20 years of rapid development, China's luggage & bags industry has so far accounted for more than 70% of the world's share. China's luggage & bags industry has occupied a dominant position in the world, not only the global manufacturing center, but also the world's largest consumer market. The annual sales of China's luggage &bags products have reached USD78.5 billion US dollars. China's luggage & bags industry is facing unprecedented challenges. According to statistics: In 2010, the total retail sales of the global luggage market reached USD24.7 billion US dollars. From 2006 to 2010, the market’s compound annual growth rate was 3%; by 2015, the total retail sales of this market reached approximately USD31.6 billion. US Dollar.

According to data, China exported 3.185 million tons of luggage & bags and similar containers in 2018, an increase of 2.74% over the same period last year. In terms of value, from January to December 2018, China's export of luggage and bags reached US$27.64 billion, an increase of 3.69% over the same period of the previous year. Among them, in December 2018, the export volume of luggage and similar containers in my country was 269,000 tons, and the export value was USD2559.2 million U.S. dollars. On the whole, the economic environment of China' s luggage & bags industry is getting better. The rapid growth of luggage & bags companies, coupled with the convenience of international exchanges, has formed a good export environment. By the end of 2018, the national luggage industry has achieved a market size of USD31 billion US dollars, and the market size of the national luggage industry is expected to exceed USD40 billion US dollars in 2022.

What is the financing situation of the luggage industry in the future.

Previously, Sara Banks, the founder of SteamLine Luggage, said that normally, the sales ratio of suitcases and handbags is 7:3, but from March to December 2020, the sales of the two dropped by 30% and 70%, respectively. SteamLine is also trying its best to reverse the decline, shifting the focus of marketing channels to email, and re-recording the advertising content. SteamLine's sales from March to December 2020 fell by 14% year-on-year in 2019, but in fact, the transaction volume increased by 12% year-on-year. The drop in customer unit price was the main reason for the decline in operating income, indicating that the change in marketing strategy was very successful.

Sara Banks said that in the next two quarters, the luggage industry will pick up overall, especially in markets outside the United States. Before the epidemic, 80% of SteamLine's business took place in the United States, but in 2020 this number has shrunk to 60%. During the epidemic, revenue in the United Kingdom and Australia increased by 14% and 31% respectively year-on-year. SteamLine is planning to set up a branch in Australia to reduce logistics costs.

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