The demand for leather tote bags has surged by 300% in the past month, according to Net-a-Porter market director Libby Page. This trend signifies a shift towards larger, utilitarian-style bags. According to Data Bridge Market Research, the tote bag market is projected to be worth $3.6 billion by 2030.
As luxury goods become more popular, affordable totes like the $40 LL Bean are also on the rise. This raises the question of whether high-ticket items like luxury totes will continue their popularity. Fflur Roberts, head of luxury goods at Euromonitor International, believes that luxury totes serve a practical purpose and are also seen as aspirational products. This makes them appealing for those with hybrid lifestyles who need a versatile bag for work and play.
Gabriel Rylka, founder of Break Archive, a luxury fashion resale platform, has observed an increase in demand for larger tote bags as well. He emphasizes the desire for practicality and utility over micro-trends on social media. Many individuals are seeking a bag that can hold their entire life and be used every day for work or travel.
Totes have traditionally been associated with low-ticket cotton items for gym use or shopping excursions. The rise of luxury versions raises questions about their place in the market and whether they will be able to compete with other high-end bags like designer handbags or backpacks.