Industry Analysis & Industry Trends
The Audio and Video Equipment Retailers industry comprises businesses that sell products such as TVs, audio and video players and recorders, portable players and audio and video accessories. In recent years, retailers have been adversely affected by several factors. The economic downturn resulted in high unemployment and uncertainty among consumers, who reduced their spending on discretionary goods. This change in consumer behaviour affected retailers and industry revenue slumped on account of the lack of demand. Over the five years through 2016-17, IBISWorld estimates that industry revenue will decrease at a compound annual rate of 2.5% to reach £471.4 million.
Industry retailers have also faced increasing external competition from department stores and online retailers... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Audio and Video Equipment Retailers industry is in the decline stage of its life cycle. The value that the industry adds to the economy is weakening, which is a key indicator of its declining life cycle stage. Over the 10 years through 2021-22, industry value added, the industry's contribution to the economy, is expected to decrease at a compound annual rate of 3.7%. GDP is expected to grow at a compound annual rate of 2.3% over the same period. Industry participants have been affected by consumer trends and high external competition. Lower prices quoted by external retailers have forced operators to slash prices, which has placed a great amount of pressure on industry profit margins. Many retailers have been unable to cope and have exited the industry. Oth.. purchase to read more