Makers of pricey handbags are at risk of losing a generation of customers as millennials and Gen-Zers ditch purses, clutches and pocketbooks in favor of backpacks and even fanny packs and that’s if they carry a bag at all, according to a study.
Just 39% of women aged 18 to 35 said they carry a handbag for activities other than work or school, according to a survey from Circana, which tracks online and in-store retail receipts for some 150,000 consumers.
That’s compared with 60% of women aged 35 and older who say they always carry a handbag.
Younger women bought 2% fewer handbags during the 12 months ended in April compared to the previous year, while handbag sales by older women spiked 7% during the same time frame, according to the report.
That’s a major gap with profound long-term implications for luxury brands like LVMH and near luxury brands like Coach which depend upon handbags for the lions share of their revenues and profits, said Pamela Danziger, author of Meet the HENRYS: The Millennials That Matter Most for Luxury Brands.
Donning a fanny-pack, meanwhile, doesn’t seem to be the fashion faux pas it once was — despite Kim Kardashian being recently ripped for sporting one.
Sales of fanny, waist and chest packs were up 56% among younger women while sales of everyday backpacks were up 7%, according to the report. A Lululemon belt bag that sells for less than $40 has been especially popular, says Beth Goldstein, Circana’s footwear and accessories analyst.
Younger women who are “seeking both function and fashion” are also scooping up small crossbody bags, which is the most popular style, she said.
Sales of womens wallets year to date, meanwhile, are down just over 20% compared with the same period in 2019, while sales of credit card cases are up 16%, according to Circana.
We dont need to carry as much because we arent going to the office every day and our phones have become our wallets, Goldstein added.
Danziger attributed the bagless trend by young women to their desire to be hands-free, while older women carry bags with them out of habit.
Some older women including Martha Stewart is among the older women breaking the habit and embracing the trend.
What are handbags? the 81-year-old domestic diva told Vogue in a recent interview. “I have a Bandolier phone case, which is my pocketbook.
Younger women aren’t completely shunning bags, since showy, name-brand handbags are the preferred way for women to display their luxury status, Danziger added.
Harry Parker was just 14 years old when he was hit and killed by a car on his way to school in Swindon.
“He was a lovely lad, full of life. A football fanatic,” said Harry’s dad, Adam. “He would always make people smile and just have a good time. He was my right hand man. Daddy’s boy.”
His mum Kelly says the memory of what happened that day in November 2022 is seared into her mind.
“I can remember walking into that room now, he was in resus, lying on a trolley. He was just absolutely lifeless. I pushed all the doctors away, I pushed everyone out the way and just went to him and said ‘Harry, please, come on son, you’ve got me. We can do this together’.
“But half an hour later, the doctors came through and told us the devastating news that there was nothing anybody could do for him. As a nurse I’m at the hospital every day, helping people. I love that, that’s my job. But I couldn’t help my son. Nobody could.
“The hardest part was when we had to say goodbye to him. We had to make the decision to turn the life support machine off. Harry was in the middle, me and his dad lay on each side of him, holding him so tight and feeling his heart beat, until we felt the very last beat.”
The driver of the car didn’t have a licence, insurance, or stop at the scene.
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But two years after Harry’s death the Crown Prosecution Service told his parents that they were dropping the charges.
They said: “We examined this case in great detail – including obtaining the advice of a forensic collision expert – and it has become clear that there is not enough evidence to demonstrate that this collision could reasonably have been avoided, and therefore that the driving was careless.”
For Adam and Kelly it was a huge blow.
“I was enraged, angry,” said Adam. “I just wanted to lash out. But there’s no point in doing that. The only way to win this fight is to go through the legal procedures and do this properly. I can’t believe that the law is so lenient on people who haven’t got a licence.”
There is no current national data on the number of unlicensed drivers, though past research by the Department for Transport estimated they commit 9.3% – or nearly 1 in 10 – of all motoring offences. It was thought there could be as many as 470,000 on the roads.
In 2006 the Labourgovernment introduced a new offence of causing death while driving without a licence or insurance, punishable by up to two years in prison.
But in 2013 the Supreme Court ruled that, due to the way the legislation was worded, prosecutors still had to prove the driving was at fault – thus rendering the new law fairly redundant, as a driver could then be charged by careless or dangerous driving.
The judges were concerned about faultless drivers being charged if a drunk pedestrian fell into the road in front of them, or if someone attempted suicide by jumping out into the road.
The Parkers’ local MP, Will Stone, believes the law needs to be changed to reflect the spirit and intention of the 2006 legislation.
He has a Ten Minute Rule Bill today – a motion to seek MPs’ permission to introduce a bill to make the case for a new law.
Labour MP Mr Stone is hoping the government will adopt the bill as part of their forthcoming road safety strategy.
“What we’re specifically looking to do with the Harry Parker Bill, is that if a driver without a licence crashes into somebody and it results in death, it would automatically be deemed careless,” he said.
“There is clearly a loophole in the rules. You need a driving licence to drive. Therefore, choosing to go without one is careless by default. You shouldn’t be on the road because you don’t have the requirements to operate a car, and I think that is a safety risk.“
The Department of Transport said: “Every death on our roads is a tragedy and our thoughts remain with the family and friends of Harry Parker.
“The government takes road safety seriously, and we are committed to reducing the number of those killed and injured on our roads.”
Adam Parker now spends every morning on the road outside Harry’s school, making sure all the pupils get across safety. He and Kelly are campaigning to raise awareness of road safety, hoping that Harry’s legacy will be to protect other children.
“You shouldn’t send your child off to school, planning what you’re going to cook them that evening, planning what they’re going to have for their birthday in five days time, but it doesn’t happen because someone just hits him,” said Kelly. “We don’t want any other parents to have to go through this.”
The US solar manufacturing industry just hit a historic milestone: Domestic solar module production capacity has surpassed 50 gigawatts (GW). If all these factories ran at full capacity, they could produce enough modules to meet the country’s entire solar demand.
This achievement signals a shift in the US solar industry, which has historically depended on imports for key components.
According to the Solar Energy Industries Association’s (SEIA) Supply Chain Dashboard, companies have announced plans for 56 GW of new solar cell production in the US, 24 GW of wafer production, and 13 GW of ingots. Meanwhile, domestic solar tracker manufacturing capacity has now topped 80 GW.
SEIA president and CEO Abigail Ross Hopper said:
Reaching 50 GW of domestic solar manufacturing capacity is a testament to what we can achieve with smart, business-friendly public policies in place.
The US is now the third-largest module producer in the world because of these policy actions.
This milestone marks progress for the solar industry and reinforces the essential role energy policies play in building up the domestic manufacturing industry that American workers and their families rely on.
SEIA first set a goal in 2020 to reach 50 GW of US solar module production capacity by 2030 – enough power output to match 27 Hoover Dams. That goal spans the entire solar supply chain, from modules and cells to ingots, wafers, polysilicon, trackers, and inverters.
At the time, the US had only 7 GW of domestic module production and no manufacturing for critical upstream components like ingots and wafers. Fast forward to today, and the industry looks a lot different. Two new US solar cell factories – one in Georgia and another in South Carolina – have already come online in the past few months, helping to fill in the gaps.
SEIA’s strategy has focused on building out domestic module production first to create demand for upstream components. Thanks to policy incentives that SEIA helped advocate for such as the advanced manufacturing production tax credit, companies are now investing in every part of the solar supply chain.
Another win came when SEIA pushed for solar ingot and wafer production to qualify for a 25% investment tax credit under the CHIPS and Science Act of 2022. That move is helping build out the US solar supply chain even further. Since the passage of key federal energy policies, US solar module manufacturing has grown five-fold.
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Gains were broad-based across tech stocks in Japan, South Korea and Hong Kong, and came as their counterparts in the U.S. cut their losses on Monday, following tariff announcements that came late in the day.
Japanese Semiconductor players Advantest and Lasertec led gains among the country’s tech stocks, rising 5% and 4.81%, respectively.
Taiwanese chip company TSMC and manufacturer Foxconn rose 2.8% and
Tech stocks in Asia had come under pressure after Chinese startup DeepSeek launched a free, open-source language model that challenged the supremacy of the U.S.-led AI ecosystem. These stocks subsequently rebounded last week, but the rally mostly got stalled Monday over tariff worries.
South Korean tech stocks were also trading higher on Tuesday, with Samsung Electronics gaining 4.13% and SK Hynix rising marginally, up 0.63%.
Chinese tech major Tencent’s shares rose 3.07% in HongKong, while shopping platform Meituan’s stock advanced 5.06%, electronic vehicle maker BYD rose 4.22%, Xpeng was trading 14.46% higher and Li Auto gained 9.35%.
The gains in Chinese companies come even as U.S. tariffs on CnaChina are set to kick in. Trump will reportedly speak with President Xi Jinping this week, signaling the intent to avoid a broader tariff war between the world’s top two economies.
Correction: The story has been updated to reflect that the U.S. has paused tariffs on Canada and Mexico.