Industry Analysis & Industry Trends
The Clothing Retailing industry has faced several tough years, with cautious consumer spending, intense competition, higher rent costs and the aftermath of the global financial crisis driving down revenue and profit margins. Over the five years through 2014-15, industry revenue is expected to contract at a compound annual rate of 0.6%.
Widespread economic uncertainty over the past five-year period prompted consumers to become more cautious about spending. As a result, the private savings rate reached record highs. Retail figures suggest that consumers remained nervous about the climate of the global economy in 2010-11 and 2011-12. However, improved economic conditions have led to revenue growth over the past two years... purchase to read more
Industry Report - Industry Analysis Chapter
The five years through 2014-15 have been turbulent for clothing retailers. The industry struggled following the economic downturn, with declines in industry revenue attributable to the plunge in consumer spending and sentiment in response to instability in financial markets. IBISWorld expects industry revenue to contract at an annualised 0.6% over the five years through 2014-15. However, an improvement in economic conditions has led to increased consumer confidence over the past two years, which is expected to contribute to a 1.8% increase in revenue in 2014-15, to reach $13.1 billion.
Clothing retailers are having difficulty adjusting to a seismic shift in consumer spending behaviour following the global financial crisis... purchase to read more