A purse is not just a fashion accessory. It has become necessary for both men and women as it safeguards cash and valuables.

An average American woman owns up to thirteen purses and buys three yearly for different uses. (Source: Peoria Times)

Due to this, the purse industry is growing faster and offering more variety of purses for businesses to sell. This industry caters to different audience segments by producing and selling various purses. Some of these include hobo bags, satchel bags, and tote bags.

Market Value and Profitability

The United States is currently the biggest market in the global purse industry, with the current market value amounting to $12.62 billion. (Source: Statista)

A significant reason is that purse brands generate profits about ten times higher than the manufacturing costs.

Financial Times states that if a leather purse costs $250 in manufacturing (including material and labor costs), purse companies sell such a purse for $2500 and more. (Source: Financial Times)

Things to Consider While Choosing A Purse Vendor

Consider the following factors for choosing a good purse vendor:

• Expertise: Firstly, you can check a vendor’s experience with the total number of years of that vendor in the industry. Secondly, the vendor provides you with complete information on the purse’s material and market value.
• Quality: Your vendor offers purses that are made of high-quality materials, such as excellent leather. Other things to look at in purses are stitching, finishing, and fully functioning hardware such as clasps, handles, and zippers.
• Size and shape: You should get a variety of purses in different sizes (small, medium, and large) to cater to all buyers. Similarly, you can get various shapes in purses, such as baguettes, hearts, rectangles, squares, and rounds.
• Styles: Vendors should offer purses in different styles, so you can offer your consumers purses with designs and colors that match their clothing.
• Brands: Prefer purses of top brands as it is good for your business. Also, you will not need to put in much effort to promote them. Due to their demand, these purses will generate more profits for your business.

Current Trends of Purses

Firstly, buying luxury bags is trending among wealthy consumers, as inflation does not affect them much. Secondly, purchasing eco-friendly bags (made of sustainable or recycled materials) is also becoming common. Both brands and consumers follow this fashion.

Moreover, this year brands are reviving the designs of their popular handbags from previous decades as customers love vintage purses.

Trending and popular purse designs include top-handle, retro, sparkling, and woven fabric bags. Besides, bags embellished with rhinestones, pins, and pearls also make good sales.

Types of Purses You Can Find Here

You can find the following types of purses from manufacturers in this directory:

• Bags (crossbody bags, makeup bags, and pouch bags)
• Clutches (Amoli clutches, envelope clutches, flap clutches, and party clutches)
• Wallets (classic wallets, holder wallets, and leather wallets)