Industry Analysis & Industry Trends
The Clothing Retailing industry has faced several challenging years, with cautious consumer spending, intense competition and higher rent costs affecting overall revenue and profit. Over the five years through 2015-16, industry revenue is expected to expand at a compound annual rate of 3.3%, with growth largely driven by the rise in bricks-and-mortar retailers developing online sales channels.
Widespread economic uncertainty over the past five years prompted consumers to become more cautious about spending, particularly in 2010-11 and 2011-12. However, improving economic conditions and the growing popularity of online shopping have supported industry revenue growth since then... purchase to read more
Industry Report - Industry Analysis Chapter
Clothing retailers have been subjected to a turbulent operating environment over the five years through 2015-16. The industry struggled following instability in financial markets at the beginning of the period, with declines in revenue attributable to the plunge in consumer sentiment and spending. However, IBISWorld expects industry revenue to increase at an annualised 3.3% over the five years through 2015-16, with the majority of this growth driven by surging online sales by bricks-and-mortar retailers. Further improvements to local economic conditions are expected to contribute to a 2.7% revenue rise in 2015-16, taking industry revenue to $18.7 billion.
Clothing retailers have had difficulty adjusting to a seismic shift in consumer spending behaviour over the past five years... purchase to read more