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 years has 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 global economy in 2010-11 and 2011-12. However, improved economic conditions have led to revenue growth over the past two years. As disposable incomes increase, industry revenue is expected to grow by 1.8%... purchase to read more
Industry Report - Industry Analysis Chapter
The five years through 2014-15 are expected to be turbulent for clothing retailers. The industry struggled following the economic downturn, with declines in 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, improvements to economic conditions are expected to contribute to a 1.8% revenue rise in 2014-15, taking industry revenue to $13.1 billion.
Clothing retailers have been having difficulty adjusting to a seismic shift in consumer spending behaviour following the global financial crisis... purchase to read more