LAB BAGS
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WHAT DOES <strong>LAB</strong> <strong>BAGS</strong> HAVE TO OFFER?<br />
Lab Bags mainly offers a unique service wherein<br />
customers are able to customize their own bags<br />
according to their preferences. This allows the<br />
customers to be their own artists and designers of bags.<br />
The overall experience of designing the bag is the value<br />
proposition of the company.<br />
Lab Bags competes in an intense competitive market.<br />
Euromonitor (2014) shows that the current value of the<br />
bag industry continues and will continue to grow in the<br />
next few years. The strong growth can be a cause of the<br />
increasingincomeearnedbyFilipinoswhichboosttheir<br />
purchasingpowerorcanalsobeacauseoftheincreasing<br />
tourist arrivals here in the Philippines. Today, not just<br />
“bag producer” competes in the bag industry but<br />
international apparel producers have already entered<br />
the market such as Nike, Uniqlo and Lacoste. Also<br />
forecastedbyEuromonitoristheabilityofbagproducers<br />
to use e-commerce or Internet retailing will make the<br />
competition tougher. It is therefore important for Lab<br />
Bags to continue to innovate and attract customers not<br />
just for short-term but for long-term as well.<br />
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