The U.S. leather products industry performs well, but the downward trend is difficult to change

by:JIYALI     2021-08-01
The production of leather products in the United States will further decline in the next five years. A few days ago, according to the market research company's forecast, the sales revenue of American leather products manufacturers in 2013 will increase by 2.6%, reaching $4.1 billion. Although the U.S. leather goods industry has performed well, the downward trend is difficult to change. In the past 5 years, import trade has become an increasingly important part of the leather products industry, with imported products accounting for 88.4% of the US market demand. Low-priced products from China and Vietnam make domestic-made leather products lose their attractiveness in price. As a result, American manufacturers pay more attention to product design and market promotion activities, and transfer production abroad or seek foreign processing. Because the major brands including Coach and Tandy have abandoned domestic production and sought to produce in low-cost countries. Coach maintains design, marketing and distribution facilities in the United States. Some still insist on producing in the United States, but mainly target niche markets and high-end products. It is expected that in the next five years, the production of leather products in the United States will further decline. As manufacturers mainly produce high-end products, product profits will rise, and technological investment will also help them maximize their profits.
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