Industry Analysis & Industry Trends
The Clothing and Footwear Repair industry has fared well over the past five years. The industry has been largely unaffected by the turbulent economic conditions that have plagued traditional retailers. Widespread economic uncertainty and volatility in consumer sentiment have prompted many households to scale back expenditure on unnecessary items of clothing and footwear, and instead extend the life of existing items by spending on repair and alteration services. Industry players have also benefited from the growing popularity of upcycling, where old garments are transformed into new items. Over the five years through 2015-16, industry revenue is forecast to rise at an annualised 3.2% to reach $225.0 million, including growth of 1.8% in 2015-16... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Clothing and Footwear Repair industry is in the mature stage of its life cycle. Over the 10 years through 2020-21, the industry's contribution to the economy (industry value added) is expected to rise by an annual rate of 2.2%, a steady performance compared with annualised GDP growth of 2.8%. As a result, the industry is projected to underperform the overall economy during this period.
Industry establishments are expected to trend upwards over the period to cater for steady demand for clothing repair and alteration services. Existing franchise chains will continue to grow their networks across Australia to reinforce brand image and increase market share... purchase to read more