Wallets, Key chains & Leather the new Additions in Retail Chians.
Trinkets are a fast-growing in global market. Small leather goods commanded global sales of just over $3 billion in 2008 and over $5 billion in 2014. By 2018, the category is projected to grow to $6.5 billion. Entry-level priced products like wallets, key chains, leather items for cars, homes and offices are on radar of most of the consumers. ‘luxury tchotchkes’ (a Yiddish word meaning trinkets or miscellaneous items) has been coined for the same.
The products are gaining immense popularity in spite of high prices only because they give a connection and feel of having a luxury item in their closet. What if they cannot afford high end bags from the best of brands the small trinkets are surely becoming a way to get connected, add value to existing accessories while adorning the latest trend that too from high end brand.
Luxury tchotchkes like Fendi’s are one of fashion’s weirder obsessions, but if market demand is anything to go by, there’s a tonnes of consumer interest in very expensive knickknacks. They’re appealing because they are more than just a keychain, or a coin purse, or set of ridiculously expensive boxing gloves. They’re a way to tap into a lighthearted side of luxury that doesn’t often show its face. Not everybody can afford a $300,000 Ferrari, but some of those people can instead afford a $1,000 key chain.
Esta historia es de la edición July 2017 de Perfect Sourcing.
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Wallets, Key chains & Leather the new Additions in Retail Chians.
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