South Korea Luggage Market Overview, 2029

The luggage market of South Korea has undergone a significant transformation under the influence of economic growth, increasing disposable income, and growth in both domestic and international travel. Just a short time ago, the travelling bags and luggage offered by local brands were simply the fundamentals only. With all these changes brought about by the growth of tourism in South Korea and by the rise of the middle class, high-quality and fashionable luggage consequently experienced upsurge in demand. A design perspective came to the fore, and this opened up an opportunity for penetration by domestic companies as well as international brands to foray into penetration based on designs, functionality, and brand values. The innovations are smart luggage, which have technology inputs like GPS tracking, built-in chargers, and biometric locks. Domestic brands like Samsonite Korea have been important in adapting the global trends for the local consumers. In addition, similar e-commerce sites, such as Coupang and Gmarket, have also considerably contributed to increasing the accessibility of other luggage products. There are consumer protection legislations in South Korea, which apply to the luggage sector. These include strict quality control of the products, safety standards, and labeling requirements. The final result must be products that are more durable and meet set safety standards. Thus, these developments are overseen by the Korea Fair Trade Commission to comply with the laws, promoting fair competition and consumers against substandard products or misleading marketing. In terms of sustainability, emphasis has been on increasing awareness regarding environmental impacts as this leads to more eco-friendly luggage made from recycled materials. According to the research report, "South Korea Luggage Market Outlook, 2029," published by Bonafide Research, the South Korea luggage market is anticipated to add to more than USD 560 Million by 2024–29. South Korea's growing tourism and travel industry have a significant impact on the luggage market. The surge in both domestic and international tourism in the region, because of a rising middle class and high disposable income, increases demand for strong and stylish luggage. It is driven even more by business as well as leisure tourists looking for easy products with usable applications, somewhat reflected in a growing market of premium and branded bags. Technological advancements are changing the nature of the South Korean luggage market. Consumers who are technologically savvy go for smart luggages with GPS tracking, integrated USB charging, and biometric locks. The convenience factor and the security aspect that comes with it attract a market that craves not only the most advanced technology but also practicality. Environmentally conscious South Korean consumers are increasingly becoming more influential in the marketplace. More environmentally friendly products are being sought. Eco-friendly luggage, whether made of recycled material or based on principles of sustainability, is gaining more acceptances. This demand is partly driven by consumers and partly by regulatory inclinations to reduce negative impact on the environment. A growing trend is found in South Korean smart luggage. There, consumers demand not only a built-in digital scale but also a remote locking system and connectivity with mobile applications. Smart luggage does not only offer more security and convenience but also caters to the tech-loving South Korean consumer who embraces innovations that can ease and make travel better.

Travel Bags are the most popular segment in South Korea, favored for their versatility and functionality. They often feature lightweight materials and a variety of sizes, making them ideal for both domestic and international travel. Compared to other countries, South Korean travel bags are known for their innovative designs that prioritize ease of movement in urban settings, aligning with the country's efficient public transport system. Casual Bags appeal to a younger demographic, particularly students and young professionals. These bags are designed for everyday use and often incorporate trendy aesthetics with practical features like multiple compartments. In South Korea, casual bags are highly regarded for their stylish designs that reflect current fashion trends, making them more desirable than similar products in other markets. Business Bags cater to professionals who require functionality without compromising style. They typically include features such as padded compartments for laptops and organized pockets for documents. In South Korea, business bags are often crafted from high-quality materials that offer a sleek appearance, which is essential in the competitive corporate environment. This focus on professionalism sets them apart from business bags in other countries where functionality might take precedence over style. Other Bags encompass a variety of niche products like backpacks and specialty bags. The popularity of these items is growing as consumers seek unique designs that reflect personal style or specific activities. South Korea's emphasis on individuality and self-expression through fashion gives these bags a competitive edge compared to similar offerings in other regions. Traditional Luggage remains a staple in the market, characterized by its classic designs and materials. This segment is favored for its reliability and durability, appealing to consumers who prioritize functionality over advanced features. In South Korea, traditional luggage is often designed with a focus on aesthetic appeal, incorporating elements of local fashion trends. Compared to other countries, South Korean traditional luggage tends to emphasize lightweight materials and compact designs, making it suitable for both domestic and international travel. Smart Luggage, on the other hand, is witnessing significant growth in South Korea, driven by technological advancements and the increasing demand for convenience among tech-savvy consumers. Smart luggage often includes features like GPS tracking, built-in charging ports, and weight sensors. This segment is particularly appealing to younger travelers who value innovation and connectivity. In comparison to markets in other countries, South Korean smart luggage products often integrate advanced technology that aligns with the country's high digital adoption rates. Smart luggage is the form experiencing the most growth in South Korea. As travel continues to rebound post-pandemic, the demand for innovative solutions is expected to rise, further propelling the market forward. The integration of smart features not only enhances user experience but also aligns with broader trends of digitization in consumer products. Offline channels remain the dominant method for purchasing luggage in South Korea, with department stores and specialty retailers being particularly popular. South Koreans value the tactile experience of shopping, allowing them to inspect the quality and functionality of luggage before making a purchase. High-end department stores, such as Lotte and Shinsegae, offer a curated selection of premium brands, which appeals to consumers seeking luxury and status. This preference for offline shopping is reinforced by the social aspect of visiting stores, which is often seen as a leisure activity. Compared to other countries, where online shopping may overshadow physical stores, South Korea maintains a strong cultural inclination towards in-person retail experiences. Online channels are rapidly gaining traction, particularly among younger consumers who favor convenience and competitive pricing. The rise of e-commerce platforms like Coupang and Gmarket has made it easier for consumers to access a wider variety of products without geographical constraints. The COVID-19 pandemic accelerated this trend, as many shoppers turned to online options for safety and convenience. While online sales are increasing, they still lag behind offline channels in overall market share. The growth of online channels is expected to enhance the market by providing consumers with more choices and better prices, ultimately driving competition among retailers.

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Manmayi Raval

Research Consultant

Considered in this report • Geography: South Korea • Historic Year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • South Korea Elevator & Escalator Market with its value and forecast along with its segments • Application wise tire industry distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type: • Travel Bag • Causal Bag • Business Bag • Other Bag

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By Form: • Traditional Luggage • Smart Luggage By Distribution Channel: • Offline Channel • Online Channel The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to elevator & escalator industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.