Fashion market in Belize

The Belizean Fashion eCommerce market is predicted to reach US$6.7 million by 2024 and accounts for 21.0% of the total eCommerce market in Belize. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 5.8%, resulting in a projected market volume of US$8.4 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Market development

eCommerce revenue development in the Handbags market in Belize

The Belizean Handbags eCommerce market is predicted to reach US$0.2 million by 2024 and accounts for 56.5% of the Luggage & Bags eCommerce market in Belize. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 5.4%, resulting in a projected market volume of US$0.3 million by 2028. The Handbags eCommerce market is a sub-market of the Luggage & Bags market. Further categories within the Luggage & Bags market are: Backpacks & Daypacks, Hip & Fanny Packs, Other Luggage & Bags, and Suitcases.

eCommerce revenue development in the Handbags market in Belize

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Handbags market in Belize

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)68.351.083.619.18.615.35.331.0

Online share

eCommerce online share of the total Handbags market in Belize

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Belizean Handbags retail market, the online share is 43.5% and will increase by an average of 11.3% to 66.6% by 2028.

eCommerce online share of the total Handbags market in Belize

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)40.1%71.3%19.4%78.9%6.5%10.1%63.7%26.5%

Market definition

Definition of the Handbags market within the Fashion market

Market definition: Fashion > Bags & Accessories > Luggage & Bags > Handbags The category Handbags includes the online trade of handbags (e.g. tote bags, shoulder bags, crossbody bags, clutches). This category does not cover wallets and purses, backpacks and daypacks or hip and fanny packs. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Handbags (e.g. tote bags, shoulder bags, crossbody bags, clutches)

Out-of-scope

  • Wallets and purses
  • Backpacks and daypacks
  • Hip and fanny packs

Market comparison

The Belizean Handbags market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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