Industry Analysis & Industry Trends
Lingerie stores have endured a tough retail economy over the past five years. Expenditure on lingerie fell in the years immediately following the global financial crisis, due to a decline in consumer sentiment and higher savings rates. While consumers continued to demand and require necessities such as bras and underpants, preferences shifted towards affordable basic lingerie items over more expensive and luxurious high-end products. The subsequent change in consumer buying patterns led to a reduction in industry revenue as consumers began shopping at large discount retailers, mass merchandisers and online sites rather than in specialist lingerie stores. A... purchase to read more
Industry Report - Starting a New Business Chapter
The industry has low barriers to entry and the trend is steady. Barriers to entry for new industry operators are similar to those for the broader Retail division, but low compared with other industry types in Australia. To run a successful enterprise or chains of stores an industry participant needs start-up capital. This will be required to rent and fit out a storefront. Then staff need to be hired and trained. Here the barriers are more significant, as staff at existing lingerie stores are often highly trained in fit and product lines. Given the intimate nature of fitting customers with industry products, staff need to be more skilled in customer service than in the related Clothing Retail industry.
Access to marketable stock is an additional barrier to entry in Australia... purchase to read more