Saying yes: Rising expenditure on wedding dresses has driven industry revenue growth

The Bridal Stores industry has performed well over the past five years. Weddings are viewed as a priority expense by engaged couples and many couples will save over a long period of time for the occasion. This characteristic, combined with the rising average age of marriage and modest household disposable income growth over the past five years, has led to greater financial stability for couples tying the knot. Consequently, the average expenditure on wedding dresses has increased significantly over the period. Industry revenue is expected to increase at an annualised 5.4% over the five years through 2018-19, to $441.9 million. This includes anticipated growth of 8.7% in 2018-19, as the legalisation of same-sex marriage in Australia boosts the number of marriages...read more.

Industry Statistics & Market Size
Revenue
$442m
Annual Growth 14-19
5.4%
Forecast Growth 19-24
Profit
Employment
2,151
Businesses
569
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Industry operators have benefited from the legalisation of same-sex marriage in Australia
  • Industry operators have faced increasing competition from online bridal stores
  • Wedding gowns will become increasingly casual and brides may opt for cheaper off-the-rack dresses
  • Industry Report - Industry Locations Chapter

    The geographic spread of the industry is closely correlated with population and income distribution. Consequently, the majority of establishments are located in the highly populous eastern seaboard states. New South Wales, Victoria and Queensland account for 82.0% of bridal stores, and about 77% of the population. On the other hand, less populous states and territories such as Tasmania, the Northern Territory and the Australian Capital Territory account for a combined 3.3% of industry establishments and less than 5% of the population.New South Wales and Victoria account for a larger share of bridal stores than their population bases would indicate. This is mainly due to higher household incomes in these states. As ...purchase to read more.

    Additional Insights for the Bridal Stores Industry

    IBISWorld has determined the most important Key Success Factors for the Bridal Stores are:

  • Having a good reputation
  • Excellent customer service
  • Premium goods and services offered
  • IBISWorld analysts also discuss how external factors such as Number of marriages and Real household discretionary income in the Bridal Stores industry impact industry performance..

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    What's in this report

    What is the Bridal Stores Industry?

    Industry stores sell bridal wear, including wedding gowns, veils and other accessories such as shoes, gloves and jewellery. Stores typically also provide basic alteration services, such as hemming, taking in or letting out seams, and lengthening or shortening garments. Online-only retailers of bridal gowns and accessories are excluded from the industry, but sales made through online channels of physical retailers are included.

    Industry Products
  • Wedding gowns
  • Bridal headpieces and veils
  • Bridal shoes and other accessories
  • Bridesmaid dresses, shoes and accessories
  • Industry Activities
  • Bridal gown retailing
  • Bridal veil retailing
  • Bridal accessories retailing
  • Bridal footwear retailing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of marriages
  • Real household discretionary income
  • Consumer sentiment index
  • Demand from online shopping

  • Current Performance
  • Marriage trends
  • Substitute competition
  • Profit and participation
  • Chart: Revenue Growth

  • Industry Outlook
  • Marriage trends
  • Growing competition
  • Profit and participation
  • Table: Bridal Stores Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Bridal Stores Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Clothing Wholesaling
  • Manchester Retailing
  • Retail Property Operators
  • Women's and Girls' Wear Manufacturing

  • Products & Services
  • Wedding gowns
  • Bridesmaid dresses, shoes and accessories
  • Bridal headpieces and veils
  • Bridal shoes and other accessories
  • Chart: Bridal Stores Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged 16 to 29
  • People aged 30 to 44
  • People aged 45 and over
  • Chart: Major Market Segmentation for the Bridal Stores 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 Bridal Stores

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Bridal Stores 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 Bridal Stores 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 Bridal Stores Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    E-Commerce
  • Transactions conducted electronically via the internet.
  • Point Of Sale (Pos)
  • An electronic payment system that incorporates a debit or credit card and a cash register in the same device.
  • Radio Frequency Identification (Rfid)
  • A wireless computer chip that tracks products through the supply chain and stores useful information about products.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Bridal Stores 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 Bridal Stores:
    • 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 Bridal Stores 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 Bridal Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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