According to Libby Page, the market director of Net-a-Porter, there has been a significant increase in demand for leather tote bags by 300% in the last month. This trend represents a shift towards more utilitarian and XL-style bags. Data Bridge Market Research predicts that the tote bag market will reach $3.6 billion by 2030.
While luxury totes are still popular, affordable options like the $40 LL Bean are also gaining traction. Fflur Roberts, head of luxury goods at Euromonitor International, believes that luxury totes serve both practical purposes and are aspirational products for those with hybrid lifestyles who need versatile bags.
Gabriel Rylka, founder of Break Archive, a luxury fashion resale platform, has observed an increase in demand for larger tote bags from individuals 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 every day for work.
As luxury versions of totes rise in popularity, questions about their place in the market arise. Will they maintain their appeal or will more affordable options take over? Only time will tell as the market continues to evolve.