Visible Logos Show a Change in Market Trends!

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According to the NPD Group, one-third of the handbags purchased from June 2015 to June 2016 did not have a visible logo. This style trend is increasing and marking a change in tastes across generations.

While sales of handbags with no visible logo were highest among the oldest generation, they have gained more traction with Gen Zs, who captured an additional 8 share points in unit sales. Consumers in the age range of 25-49 also increased their purchases of no visible logo bags, while sales remained stagnant for Millenials ages 18-24.

“Consumers are becoming less focused on image and more focused on individuality— especially the younger generations,” said Marshal Cohen, Chief Industry Analyst for the NPD Group. “While the cachet of designer logos is still relevant for many, the days of consumers looking to be a part of a designer or brand movement are waning in favor of their desire to find the style and function unique to their personality and lifestyle.”

The growing popularity crafting on social media and customizable products in the marketplace also point to consumers’ appreciation for items that emphasize individuality.

This trend doesn’t suggest that consumers will stop splurging on designer accessories, though; they will just be seeking distinction in other aspects of design such as key fobs and versatility in function.

For buyers and retailers, this gives great insight into what styles to stock for the upcoming shopping season.

“Millennials have launched a movement of individuality en masse that is greatly influencing retail, including the fashion industry,” added Cohen. “Handbag manufacturers and marketers in general have been tasked by this up-and-coming generation and their more mature counterparts to demonstrate their creativity and get their consumer’s attention in new ways.”

News Courtesy of The NPD Group.

Image courtesy of Ju-Ju-Be International.

Posted on 2016-11-09 by Winita Frederick

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