Industry Analysis & Industry Trends
From that favourite pair of shoes to refrigerators, the Domestic Appliance and Other Equipment Repair and Maintenance industry caters to a highly fragmented and diverse range of products. The nature of contemporary consumerism - typified by rapid technological change, frequent upgrades and new product introductions - has meant that the role of repair services is approaching near redundancy.
The industry's services may be viewed as being partly counter-cyclical as consumers may choose to repair appliances rather than replace them during periods of low disposable income growth and weak consumer sentiment... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Household Equipment Repair Service industry is in the decline stage of its life cycle, typified by declining participation, stagnant growth and negligible product or technological innovation. In the ten years to 2017-18, industry value added is estimated to increase by 0.1% per annum when compared to GDP growth of 2.4% per annum over the same period. The industry has a large proportion of non-employing enterprises (56.1%) that are more susceptible to the increasing redundancy of this industry's services. Majority of repair services have been subsumed by manufacturers of appliances who tend to have dedicated service and repair departments who have a large competitive advantage over sole proprietors.
There has also been market saturation... purchase to read more