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Plummeting Designer Bag Sales Drag Major Department Stores Down

Sales of designer handbags are down.
Sales of designer handbags are down. Photo Credit: Facebook

Designer handbag sales are continuing to fall, a trend causing the decline of the department store, according to Business Insider.

Younger women also have a lust for experiences over goods, and malls for boutiques over anchors, according to Business Insider.

The bags are no longer the status symbols they once were and women can buy them at discount outlets as easily as pricer stores like Macy's or Nordstrom's, according to Business Insider.

Brands likes Michael Kors, Coach and Kate Spade have suffered from both overexposure and overall department store earning declines, according to Business Insider.

Click here for the story on Business Insider.

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