Industry Analysis & Industry Trends
The Clothing Retailing industry is doing it tough. Consumer spending has dropped significantly since the global financial crisis of 2008 and is showing little promise of return to pre-crisis levels. Spending patterns have altered significantly and consumers are choosing to focus on reducing debt and increasing savings rather than spend.
Over the past five years, the industry faced numerous obstacles in addition to the recession, including increased competition from supermarkets, department stores and a boom in value-priced retailers, which pushed the retail price of clothing downwards. This pressure, combined with the global financial crisis, resulted in the demise of a number of clothing retailers on the high street... purchase to read more
Industry Report - Starting a New Business Chapter
IBISWorld classifies the Clothing Retailing industry as having moderate barriers to entry, although smaller players experience low barriers. Capital costs associated with establishing a new store are relatively low, with enterprises comprising one outlet. The most significant costs involved for participants in this industry are purchases, wages and rent. Location is critical for clothing retailers and access to space in popular high street shopping precincts and centres may be either unavailable or too expensive for small retailers, which can be considered a barrier to entry.
Industry concentration is currently low, with no one industry participant expected to account for more than 4.0% of total revenue in 2011-12. Nonetheless, concentration levels vary between segments... purchase to read more