The women's handbags and totes business in the U.S. is down over 20% in the first eight months of 2019, compared with three years ago, according to NPD Group's Consumer Tracking Service.
, haven't been immune to these trends and shifts in spending. Capri Holdings in August lowered its full-year sales outlook because of a weaker wholesale market in North America.
NPD has, meanwhile, called out the handbag category to be "high-impact" and at risk for more sales declines because of tariffs. It said shoppers think of purses as a "nice-to-have" category, not a "must-have" one. And it said the sentiment would only grow should the U.S. enter another period of economic slowdown.Earlier in the week, Piper Jaffray's biannual survey showedin the survey's 38-year history.
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