Introduction
The market is a volatile environment characterized by the emergence, fast evolution and disappearance of various trends affecting the work of various companies. The increased demand for specific products is explained by their ability to satisfy specific groups of clients and fill their needs for a particular product. The broader target audience means that a brand responsible for the production and distribution of a certain item will acquire a competitive advantage and improve its position in the market. Under these conditions, it is vital to analyze the current demand for a planned product, market segment, consumer behavior, and the overall environment to ensure the trend will be popular and help to generate stable revenue. Thus, cross-body bags are one of the products popular among certain groups of men at the moment. Analyzing the given phenomenon, it is possible to acquire a better vision of how the market works and whether the tendency will preserve in the future.
Background
A cross-body bag is a simple element of style that might have some practical and decoration functions. Thus, it is a small bag designed to be worn on one side of the person’s body (Waters, 2022). Usually, it is fixed by the strap looped over the shoulder; however, it is possible to wear it differently (Waters, 2022). These include throwing over the shoulder, wearing in hands, and in various positions on the body. The fast growth of the product’s popularity is explained by several factors. First, it helped to meet the demand for some element of style that would help men to differentiate and demonstrate their adherence to fashionable trends. Second, it provides a chance to store small objects, such as phones, keys, wallets, or cards, without using pockets. Finally, the trend was popularized by numerous brands, such as Gucci or Balenciaga, which helped to support its fast evolution and growth (Waters, 2022). As a result, it became one of the essential tendencies in the modern market.
Segment
The market segment for men’s bags differs from the female’ one. It comes from the peculiarities of style, gender differences, and stereotypes linked to fashion. Speaking the cross-body bags, the target audience is narrower because of the characteristics of the brand. First, the young and middle-aged from 18 to 50 are the central buyers interested in the product. They are characterized by increased attention to fashion trends, men’s style, and the desire to differentiate from others (Schivinski et al., 2022). For this reason, these products are viewed as the chance to create a unique look. Second, the bags produced by fashionable brands might cost higher than other products, meaning that the customers are characterized by the increased buying capacity (Schivinski et al., 2022). Moreover, the menswear segment is characterized by the strong influence of pop culture and fast-evolving trends introduced by celebrities. It also promotes the high volatility of the market and specific peculiarities of this trend.
Market Environment
Analyzing the popularity of the cross-body bags, it is possible to outline several peculiarities of the market environment. The given sphere is characterized by the strong influence of the classic style, which has been unchanged for an extended period of time (Schivinski et al., 2022). It means that traditional suits remain popular, while the sports style is also less changeable compared to women’s clothes. At the same time, the market environment experiences a strong influence from external factors, such as fashion and popular culture (Schivinski et al., 2022). Under these conditions, new trends emerge and become famous in comparatively short periods of time. At the same time, the given market segment depends on the customer demand, buying capacity, and culture, which are also altering nowadays. As a result, new products, such as cross-body bags, have become more popular and attractive to men.
Competition
The competition in the sphere is high, meaning that companies have to struggle to acquire a competitive advantage and broaden their target audience. Numerous iconic and famous brands compete with smaller ones which try to enter the market and conquer the target audience (Schivinski et al., 2022). The fierce rivalry impacts the market environment and stimulates the emergence of new trends, such as the growing popularity of cross body bags. Focusing on promoting their luxurious nature and emphasizing their importance as the part of their image, top brands, such as Gucci, or Balenciaga, might get favorable positions in the market because of their recognized image and reputation (Kotler, 2016). However, for lower price range segments, the rivalry remains high as brands have to preserve the high level of customers’ interest. For this reason, the rise of men’s cross bags can be viewed as a marketing strategy to attract new customers.
Culture
As stated previously, the menswear market is strongly influenced by culture. The utility aspect is gradually becoming less important than style, fashion, and contemporaneity (Kotler, 2016). It is especially relevant for the target audience outlined above, as they are active users of the Internet and social media. These two phenomena have a strong influence on buying behavior and buying culture, introducing and popularizing brands (Tuten, 2021). Today, they are viewed as potent marketing tools that can be employed by specialists to attract attention to a particular product and increase its sales (Tuten, 2021). As a result, cross body men’s bags are viewed as a part of modern popular culture and an important element of a fashionable look (Waters, 2022). It impacts the clients’ decision-making processes and desires to acquire a certain product. In such a way, the change in a culture impacts the market and popularity of particular items.
Consumer Behavior
Consumer behavior is another critical factor influencing the market and its segments. The current understanding of this factor is critical for promoting specific products and their sales. Thus, speaking about cross body bags, the change in the consumer behavior can be observed. Waters (2022) assumes that previously, a similar tendency was observed regarding sneakers, which were viewed as the way to create a unique image and differentiate from others. However, popular trends, pop culture, fashion and advertising promoted the transformation of clients’ mentalities. Today, much attention is also given to these bags as a way to make their appearance more attractive, modern, and unique (Waters, 2022). This change explains the growing popularity of the discussed item and its high sales among the representatives of the discussed group.
Opportunities for Sustainable Marketing
Another critical aspect of the given trend is the emergence of numerous opportunities for sustainable marketing. Today it is a crucial tendency that helps brands to improve their image and demonstrate commitment to essential community problems. For instance, Gucci introduced a new sustainable collection using recycled, organic, and bio-based materials (Carvill et al., 2021). As a result, its products, including bags, become more environmentally friendly and can be reused. Other brands also follow this example and try to switch to sustainable practices. It means there are multiple opportunities for sustainable marketing as popularizing menswear with such features, brands support the shift towards green methods (Carvill et al., 2021). Cross-body men’s bags can also be viewed through this prism as numerous items are manufactured from environmentally friendly materials. The sustainability factor helps to support the stable interest in the product as it is one of the important parts of clients’ behaviors.
Potential
The popularity of cross-body men’s bags leads to their stable sales and high revenues generated by the producers. However, it is also vital to consider new options for the further evolution and attraction of new clients. For this reason, entering new market segments can be viewed as a possible option for generating additional revenue (Kotler, 2016). At the moment, the major market segment includes young and middle-aged men with stable earnings and an interest in fashion. However, the target audience can be expanded by attracting representatives of new cohorts. For instance, older men can be engaged by emphasizing the practical and comfort aspects. While fashion might be less important for them, the ability to carry small objects that can be lost in pockets can be attractive for this group. Moreover, it can have sections to organize things and offer enhanced convenience. Under these conditions, shifting the focus from fashion to practical utility, it is possible to enter new market segments.
Entering Smaller Metropolitan Areas
The market in the smaller areas can also be affected by the discussed trend. As stated previously, its emergence and growth are closely linked to the change in popular culture. The current development of media and the Internet, along with the high level of globalization, ensures the fast spread of the recent tendencies and alterations in the dominant views (Kotler, 2016). For this reason, it is broadly used as a part of marketing strategies to promote a certain product and increase its sales. That is why it is possible to admit that the tendency to wear cross-body men’s bags will continue to evolve and reach smaller locations, such as metropolitan areas.
Managerial and Marketing Implications
The central aspects of cross-body men’s bags discussed above can be viewed as marketing implications relevant to real-life practice. The analyzed trend shows the critical importance of popular culture and how it influences buyer behavior and demand. By monitoring the current trends in this field and fashion, companies can popularize existing products by appealing to essential issues or creating new ones which possess the desired features (Kartajava et al., 2016). At the same time, the popularity of this product shows the importance of the correct market analysis to select the necessary segment and sustainability issues. Using this knowledge, it is possible to create an effective marketing strategy to promote a certain product.
Conclusion
Altogether, the popularity of cross-body men’s bags is a critical trend influencing the menswear market nowadays. It affects the market segment, including young and middle-aged men who follow fashion and have sufficient buying power. The popularity of this trend is linked to its popularization by famous companies, such as Gucci and Balenciaga, and changes in the popular culture affecting the mentalities of people globally. The takeaways acquired by analyzing the current trend are vital for marketing and management practices. They can be used to plan the strategic plan to present a product to a new segment and ensure it is attractive to the target audience.
References
Carvill, M., Butler, G., & Evans, G. (2021). Sustainable marketing: How to drive profits with purpose. Bloomsbury Business.
Kartajava, H., Kotler, P., & Setiawan, I. (2016). Marketing 4.0: moving from traditional to digital. Wiley.
Kotler, P. (2016). Marketing management (15th ed.). Pearson.
Schivinski, B., Pontes, N., Czarnecka, B., Mao, W., De Vita, J. & Stavropoulos, V. (2022), “Effects of social media brand-related content on fashion products buying behaviour – A moderated mediation model”, Journal of Product & Brand Management. Web.
Tuten, T. (2021). Social media marketing (4th ed). SAGE Publications.
Waters, J. (2022). How men’s hype bags became the new sneakers. The Wall Street Journal. Web.