Tailor-made: Low-cost imports are causing manufacturers to focus on high-quality products

The Tailoring and Clothing Accessory manufacturing industry has faced a challenging operating environment over the past five years, as falling demand in the retail market has reduced overall demand for industry products. Rising import competition has also caused industry revenue to contract over the past five years, as players have struggled to compete with low-cost imports from Asia. Volatile consumer sentiment and subdued discretionary spending have prompted key markets such as department stores, clothing retailers and wholesalers to reduce inventory and therefore demand for industry products. Industry revenue is expected to decline at an annualised 6.7% over the five years through 2017-18...read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 13-18
-6.7%
Forecast Growth 18-23
Profit
Employment
8,351
Businesses
2,157
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • The industry's competitive advantage lies in producing higher quality, niche market goods
  • The industry is becoming increasingly globalised as manufacturers continue to move offshore
  • Fast fashion is expected to place further pressure on the industry's competitiveness
  • Industry Report - Industry Analysis Chapter

    The Tailoring and Clothing Accessories Manufacturing industry has been subject to increasing globalisation over the past five years. Consumer sentiment has been volatile over the period, reducing demand for downstream retailers and therefore depressing total demand for industry products. Imports are highly competitive as many international manufacturers benefit from lower overhead costs. As a result, local manufacturers have had difficulty competing on cost and have instead sought to compete through high-quality, custom-order and unique items.Revenue and profitabilityIndustry revenue is expected to contract at an annualised 6.7% over the five years through 2017-18, to $1.4 billion. This includes an expected 12.6% decline in the current year. Inc...purchase to read more.

    Additional Insights for the Tailoring and Clothing Accessories Manufacturing Industry

    IBISWorld has determined the most important Key Success Factors for the Tailoring and Clothing Accessories Manufacturing are:

  • Access to highly skilled workforce
  • Having a large supply contract
  • Degree of globalisation in the firm
  • IBISWorld analysts also discuss how external factors such as Demand from clothing retailing and Demand from department stores in the Tailoring and Clothing Accessories Manufacturing industry impact industry performance..

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    What's in this report

    What is the Tailoring and Clothing Accessories Manufacturing Industry?

    Companies in the industry primarily manufacture headwear, fur or leather clothing, swimwear, gloves and other clothing accessories. The industry also includes operators that provide clothing trade services such as hem stitching, basque knitting and buttonholing.

    Industry Products
  • Hats and other headwear
  • Clothing accessories
  • Other clothing
  • Tailoring services
  • Industry Activities
  • Fur and leather clothing
  • Plastic or rubber clothing
  • Handkerchief
  • Hat, cap, helmet and other headwear
  • Swimwear
  • Belt, tie and shoelaces
  • Glove (except rubber and sports)
  • Clothing accessory
  • Providing tailoring services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from clothing retailing
  • Demand from department stores
  • Real household disposable income
  • Import duties on apparel manufacturing
  • Trade-weighted index

  • Current Performance
  • Revenue and profitability
  • International trade
  • Industry structure
  • Fast fashion
  • Ethical fashion
  • Technology
  • Industry regulation
  • Chart: Revenue Growth

  • Industry Outlook
  • Revenue and profitability
  • International trade
  • Industry structure
  • Fast fashion
  • Technology
  • Table: Tailoring and Clothing Accessories Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Tailoring and Clothing Accessories Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Clothing Wholesaling
  • Department Stores
  • Clothing Retailing
  • Supermarkets and Grocery Stores

  • Key Selling Industries
  • Leather and Leather Substitute Product Manufacturing
  • Synthetic and Natural Textile Manufacturing

  • Products & Services
  • Clothing accessories
  • Hats and other headwear
  • Other clothing
  • Tailoring services
  • Chart: Tailoring and Clothing Accessories Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Department stores
  • Clothing retailers
  • Clothing wholesalers
  • Export markets
  • Chart: Major Market Segmentation for the Tailoring and Clothing Accessories Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Tailoring and Clothing Accessories Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Tailoring and Clothing Accessories Manufacturing Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Tailoring and Clothing Accessories Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Tailoring and Clothing Accessories Manufacturing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Basque
  • An item of women's clothing, typically a bodice of a contoured fit extending past the waistline over the hips.
  • Buttonholing
  • The method of sewing with buttonhole stitch.
  • Computer Aided Design (Cad)
  • Software that enables clothing manufacturers to create product designs and improve item quality.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Tailoring and Clothing Accessories Manufacturing market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Tailoring and Clothing Accessories Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Tailoring and Clothing Accessories Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Tailoring and Clothing Accessories Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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