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 Key Buyers Chapter
The Clothing and Footwear Repair industry is characterised by a low level of market share concentration, with the top four players accounting for less than 40.0% of revenue. According to ABS data, 51.3% of businesses generated between $50,000 and less than $200,000 in 2013-14. A further 32.1% of businesses earned between $200,000 and less than $2 million. Only 0.9% of businesses generated more than $2 million. The remaining 15.7% of businesses were at the lower end of the spectrum, generating less than $50,000 for the year.
Market share concentration has trended down over the past five years. Barriers to entry are low due to weak competition, low capital intensity and minimal change in the use of systems and technology... purchase to read more