Industry Analysis & Industry Trends
The Personal Accessory Retailing industry has contracted by an annualised 2.4% over the five years through 2012-13. Trading conditions in the industry have been diverse in the wake of the global financial crisis. Luxury products performed well over the five-year period, driven by continued consumer demand for unique branded merchandise. The revenue and profit of retailers selling luxury accessory items has grown steadily over the past five years, while the market for mid-priced products suffered due to a softer retail economy and mounting competition from department stores and online shopping. Hence, much of the revenue growth achieved by luxury product retailers was eroded by the performance of smaller retailers selling more-affordable industry products... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Over the 10 years through 2017-18, industry value added is projected to post marginal annualised contraction of 0.5%, compared to annualised growth of 2.4% in Australian GDP. The contraction in industry value added through 2017-18 is likely to stem from increasing competition across the industry along with volatility in income and consumer spending patterns, which are expected to affect profitability. Although contraction typically indicates an industry in the declining stage of its life cycle, there are a few mitigating factors which suggests the Personal Accessory Retailing industry is still in its mature phase.
With regard to product range, the majority of stores stock similar products such as handbags, compendiums, luggage, sunglasses and umbrellas... purchase to read more