How big is the market of leather goods?
If you are new to do business in the leather goods field, you may ask how big is the market of leather goods. It's a huge market, estimated over $450 billion globally and more than $50 billion in the US.
Is it easy to start or expand your business in leather goods market?
Generally, it's not easy, but there are chances. As it is big enough, and there are many people make a success and other people may fail. If you have the ability to service enough customers, it is not hard to start, let's make a assumption, if you sell 10,000 pieces a year, and earn 5 usd each unit, you can earn 50,000 usd a year, you can do this math with more sale quantity or a different profit, the core is, the quantity you sell, that is to say, how many customer you service for a year.
Where to start?
Of course, if you are a newbie, it's not easy, as you start from zero customer, so sometimes, you may need to decide where to start.
Leather goods is of course a big market, and it can be devided into many sub markets.
Target Market
We can generally classify by price or market positioning like low-end market, mid-end market, and high-end market. This is jut a general classification. For real business on this field, every brand or company have its target market based on their ability to service their customers.
Such as the LV brand and Coach brand, they two have leather bag and wallet items, but their price is not same, and style have difference, they have in the fields for many years, they know exactly how their customers' needs and the willingness to buy their items. They don't need to sell everything, they just need to sell the right item to the proper people that need it.
These two example are too big, if you are just started. But it can as examples of market positioning. You can check your target market based on the the price your customers willing to pay.
E-Commerce
Nowadays, online shopping is become an important way people buy products, no matter buy from ecommerce platform like Amazon, Ebay, Etsy, Temu etc, or from brand's official websites or apps.
Almost all company have its own official website, the difference is some just as a showcase of brand info, some already have big sales from it.
If you are new to start, ecommerce maybe a channel you can choose.
What we Aivi Leather Can do for you?
We Aivi Leather have been in this field more than 12 years, professional in producing leather wallets, leather card holders, leather cases/bags for tech devices such as Apple iPhone, iPad, Macbook, loptop and other mobile devices.
No matter you start from tech accessories like leather phone cases, start from leather wallets & card holders, or need to create customized products with your thoughts, we can meet your demands. Don't hesitate to send us your requirements if you have any questions.