Overview

Strong suit: Growth in household disposable income has boosted formal menswear sales

IBISWorld’s Formal Menswear Retailing market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

REPORT SNAPSHOT

Industry Analysis & Industry Trends

Formal menswear retailers have exhibited solid revenue growth over the past five years. The rising prominence of office-based work for men has fuelled demand for industry products during the period. Demand has been further boosted by the increasing wealth of Australian consumers, the declining costs of formal menswear, and consumers' increased access to information and options regarding men's fashion online. A gap in the menswear market has led prominent industry players to add custom-made tailoring to their product range, which has been well received by consumers. Growth in demand has enticed new players to the industry and has led to an expansion in store networks by operators. Industry revenue is expected to post solid annualised growth of 3.2%...

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What is the Formal Menswear Retailing industry?

Formal menswear retailers have performed well over the past five years, with industry revenue expected to rise at an annualised 3.2% over the five years through 2016-17. Consumer demand for formal menswear has increased during this period, fuelled by the consistent rise in household disposable income. Growth in disposable income effectively increased household purchasing power, making formal menswear more affordable. Affordability has also increased due to growth in China's manufacturing strength, leading to the production of better value clothing, and a more appealing destination for retailers to source formal apparel. Combined, these factors have provided Australian men the opportunity to invest more in their attire. Dem...

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Additional Insights for the Formal Menswear Retailing Industry

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

  • Production of goods currently favoured by the market
  • Attractive product presentation
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Real household disposable income and Male population aged 18 and over in the Formal Menswear Retailing industry impact industry performance..

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    Products & Brands

    Major products in this industry
    Suits and formal wear
    Dress shirts
    Coats
    Shoes
    Accessories
    Examples of brands in this Industry
    HUGO BOSS
    Peter Jackson

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Real household disposable income
  • Male population aged 18 and over
  • Consumer sentiment index
  • Total number of non-manual employees in the workforce
  • Demand from department stores

  • Current Performance
  • Chart: Revenue Growth

  • Industry Outlook
  • Table: Formal Menswear Retailing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Formal Menswear Retailing Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Clothing Wholesaling
  • Footwear Manufacturing
  • Leather and Leather Substitute Product Manufacturing
  • Men's and Boys' Wear Manufacturing
  • Tailoring and Clothing Accessories Manufacturing

  • Products & Services
  • Dress shirts
  • Shoes
  • Suits and formal wear
  • Accessories
  • Coats
  • Chart: Formal Menswear Retailing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers aged 35 to 54 years
  • Consumers aged 15 to 34 years
  • Consumers aged 55 years and over
  • Chart: Major Market Segmentation for the Formal Menswear Retailing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Rent
  • Chart: Cost Structure Benchmarking – Sector vs Formal Menswear Retailing

  • Basis of Competition
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Formal Menswear Retailing Industry

  • Industry Globalization
    Major Companies
    Princeton Apparel Pty LtdHUGO BOSS Holdings Pty Ltd
  • Table: Princeton Apparel Pty Ltd - financial performance
  • Table: HUGO BOSS Holdings Pty Ltd - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Formal Menswear Retailing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Formal Menswear Retailing Industry
    Includes:
  • 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
    Jargon & Glossary
    Cctv
  • Closed circuit television; a system that helps monitor and record activities in a retail store.
  • E-Commerce
  • The ability to conduct transactions via the internet.
  • Point Of Sale (Pos)
  • Technology that incorporates a cash register with a credit and debit card electronic payment system in the one device.
  • Why buy this report?

    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 Formal Menswear 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 Formal Menswear 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 Formal Menswear Retailing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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