Sneakers and activewear are the new status symbols
Bagging the bag…. Compared to 2016, US handbag sales fell more than 20 percent in the first eight months of 2019, sending down shares of bag specialists like Tapestry (Coach) and Capri (Michael Kors). The trend reflects a change in consumers’ buying habits as well as the rise of luxury resale sites like TheRealReal, which offer used designer bags at deep discounts. Now, status symbols are sneakers and activewear.