Exciting new data has come to light for our fashionistas who love to follow the market! According to MightyGoods, a travel site, American women (and men) pay the most for handbags out of every country in the world. Using proxies to check the Google Shopping ads of 24 major countries through a search of the term “handbag women,” MightyGoods found this result, as well as other illuminating data on how much consumers in different countries spend on new bags.
Let’s try the keep the numbers quick and digestible. In the study of 24 countries, MightyGoods found that American consumers spend the most money on new handbags: $313, on average. Second on the list is Japan, coming in at an average of $268.80. India is last, with an average bag price tag of $7.22. This means that Americans spend 43 times more for new handbags than Indian consumers— a considerable difference!
While American consumers may be willing to spend the most, Russians pay the most for bags in proportion to their monthly salaries: 22.3% of their average salary before tax (Americans, by contrast, are only willing to pay 6.7% of their monthly salaries.) Interestingly enough, women in Asia are willing pay more than twice as much of their salary for a new handbag than women in Europe (women in Asia are willing to pay an average of 5.8% of their salary before tax for a new handbag, while women in Europe are only willing to pay 2.4% of their salary for new handbag). Overall, women in the 24 countries are willing to pay 4.1% of their average monthly salary for a new bag.
These numbers are an interesting analysis of the global handbag market, however, probably don’t tell the full story. Google Shopping ads are certainly a useful tool for assessing these relative trends, but it’s safe to say we’ll need more data before coming up with any definitive conclusions. We might be able to get more insight from our recent article: Why We Buy Bags.
Stay tuned for more updates on the bag market!
Any initial thoughts on this data? Are any countries lower down the list—or higher—than you expected? How much did you expect the average American to spend on bags before reading this? Tell us in the comments!
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