The demand for leather tote bags has soared by 300% in the past month, as predicted by Net-a-Porter market director Libby Page. This shift is towards larger, utilitarian-style bags that serve a practical purpose. According to Data Bridge Market Research, the tote bag market is expected to reach $3.6 billion by 2030.
Affordable totes like the $40 LL Bean are also gaining popularity, raising questions about whether high-end luxury totes will continue to be popular. Fflur Roberts, head of luxury goods at Euromonitor International, believes that luxury totes are appealing for those with hybrid lifestyles who need a versatile bag that can carry everything. She emphasizes their aspirational appeal and practicality.
Gabriel Rylka, founder of Break Archive, a luxury fashion resale platform, has noticed an increase in demand for larger tote bags. He believes that individuals are seeking practicality and utility over micro-trends on social media. Many people are looking for a bag that can hold their entire life and be used daily for work or other activities.
The rise of luxury versions of traditional tote bags raises questions about their place in the market. As Roberts notes, while they may be more expensive than their lower-ticket counterparts, they serve a practical purpose and have an aspirational appeal for those with hybrid lifestyles who need a versatile bag that can carry everything they need every day.