Buying and selling of bags is one of the profitable businesses in the Philippines. Aside from the locally-made bags, luxury or designer bags are now available in numerous platforms in the Philippines, especially in e-commerce which provides a more accessible link between the buyers and the sellers. But some factors are either beneficial or risky for these providers that every bag lover must know.
Luxury bags are now accessible
Getting luxury bags that are commonly purchased abroad is now possible in the Philippines. Even the Louis Vuitton brand has already opened its second Philippine store after seeing the potential market for luxury goods in the country. There are also sites that serve as a marketplace for those who are looking for cheaper but quality designer bags to buy from the previous owners, or those who want to make a great deal in selling out their luxury bags even at https://www.bagaholic.com.ph
Luxury spending is now being practiced
Unlike before, where people always go on the practical side, luxury spending has increased in Southeast Asian countries, including the Philippines, which is mainly occurring in Manila that registered a total of $1.4 billion in 2018. This increase in luxury spending can be attributed to the access to the Internet where transactions are made accessible for buying or selling The Baggery Philippines – Your favorite Bag Store, including luxury bags using online banking payments, on layaway options, or cash-on-delivery arrangements. As some high-earning Filipinos have exercised a lavish lifestyle, the buy and sell industry of bags will be a continuing business in the Philippines.
Luxury brands create products with a local touch
As the culture in the Philippines is seen to be patterned in Western influences, their fashion is also acquired by wealthy and influential people in the country. But to put different light and to make their brand closer to Filipinos, some innovated for bag designs that have a local touch like the Christian Louboutin Manilacaba bag, which highlights high-end design using natural materials and the weaving technique in the Philippines.
Expanding the middle class through cuts in personal income tax
The potential market for buying and selling bags in the Philippines even increased after the government enacted a law that lessens the personal income tax of the minimum up to above-minimum wage earners. This adjustment in taxation, and with the use of the Internet, somehow enables the middle class to purchase expensive items. Businesses are also encouraged as a proposal to cut the corporate tax rate up to 30% luxonlineph – original designer bag shop in philippines, making it easier for the bag industry to penetrate the market.
Do not have strict enforcement to combat counterfeits
On the downside, buying and selling of luxury bags in the Philippines is being challenged by the flooding of counterfeits due to loosely enforced laws to combat counterfeits. Good thing that there are e-commerce sites for luxury items that maintain stricter policies to ensure that the products made available for buying or selling are authentic.
Buying and selling of bags has a higher chance to prosper in the Philippines. Be it locally made or luxury brand, Filipino people have a unique taste in fashion and love for bags like any other nationality.