Murky waters: Increased popularity of grey imports has reduced industry revenue

Marine equipment retailers have endured hard times over the past five years. Industry trading conditions have been challenging due to volatile consumer sentiment, which negatively affected spending on discretionary purchases such as boats. Industry performance has also been hindered by the increasing popularity of grey imports, a term for new or used goods legally imported outside traditional supply channels. This has created industry bypass, reducing industry revenue over the past five years. Industry revenue is expected to decline at an annualised 1.4% over the five years through 2016-17, rising by just 0.4% over 2016-17, to total $1.40 billion.Growth in the volume of grey imports purchased by Australian consumers has constrained industry revenue over the past five years. more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Growth in the volume of grey imports purchased by Australian consumers has constrained revenue
  • Demand for new and second-hand boats has grown strongly over the past five years
  • Stronger consumer sentiment will support demand for luxury industry products
  • Industry Report - Industry SWOT Analysis Chapter

    The Marine Equipment Retailing industry is expected to operate in the mature stage of its life cycle over the 10 years through 2021-22. Industry value added, which measures the industry's contribution to the overall economy, is projected to decline by an annualised 1.1%, compared with annualised growth of 2.5% in Australian GDP. As a result, the industry is expected to underperform the wider economy during this period. The lacklustre performance by industry value added can be attributed to the effect of growth in grey imports and pressure on product margins due to competition across the market.The mature life cycle status of the industry is evident in its count of establishment numbers, which are expected to contract over the decade through 2021-22. Mat...purchase to read more.

    Additional Insights for the Marine Equipment Retailing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Marine Equipment Retailing Industry are

  • Membership of an industry organisation
  • Experienced work force
  • Having a clear market position
  • IBISWorld analysts also discuss how external factors such as Consumer sentiment index and Real household discretionary income in the Marine Equipment Retailing industry impact industry performance..

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    What's in this report

    What is the Marine Equipment Retailing Industry?

    Industry operators primarily sell new and used boats, outboard motors, boat trailers, marine accessories, yachts and sailing or nautical accessories. These products are often purchased from wholesalers and then resold to consumers. Businesses that primarily retail sailboards, canoes or wetsuits, repair boats or hire pleasure crafts are excluded from the industry.

    Industry Products
  • New marine equipment
  • Used marine equipment
  • Industry Activities
  • Boat retailing (new and used)
  • Boat trailer retailing
  • Marine accessory retailing
  • Outboard motor retailing
  • Sailing or nautical accessory retailing
  • Yacht retailing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer sentiment index
  • Real household discretionary income
  • Cash rate
  • Average weekly hours worked
  • Expenditure on recreation and culture

  • Current Performance
  • Trading conditions
  • Profit and competition
  • Chart: Revenue Growth

  • Industry Outlook
  • Trading conditions
  • Profit and competition
  • Table: Marine Equipment Retailing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Marine Equipment Retailing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Police and Firefighting Services
  • Consumers
  • Water Passenger Transport

  • Key Selling Industries
  • Boatbuilding and Repair Services
  • Mining and Industrial Machinery Wholesaling

  • Products & Services
  • New marine equipment
  • Used marine equipment
  • Other
  • Chart: Marine Equipment Retailing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged 55 and over
  • People aged 35 to 54
  • Businesses and other organisations
  • People aged 15 to 34
  • Chart: Major Market Segmentation for the Marine Equipment Retailing 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 Marine Equipment Retailing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Marine Equipment Retailing 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 Marine Equipment Retailing 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 Marine Equipment Retailing Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Grey Imports
  • New and second-hand goods that are legally imported outside traditional supply channels and are therefore subject to minimal restrictions.
  • Point-Of-Sale (Pos) System
  • Used at checkout points to capture data at the time and place of sale.
  • Sea Change
  • Consumers moving towards coastal townships in search of a more relaxed lifestyle.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Marine Equipment Retailing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    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 Marine Equipment Retailing:
    • 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 Marine Equipment Retailing 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 Marine Equipment Retailing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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