The Clothing Retailing industry has faced several tough years with cautious consumer spending, lower prices, higher rents and the global financial crisis driving down revenue. Over the five years through 2012-13, industry revenue is expected to contract at a compound annual rate of 2.3%. Revenue is anticipated to contract by 1.4% in 2012-13, to total $11.6 billion.
Until late 2008, Australians flocked to shopping centres around the country and spent freely on all types of items, including clothing. However, since the economic downturn, consumer spending behaviour has changed and clothing retailers have suffered.
Clothing retailers purchase a variety of clothing products and accessories from wholesalers and sell these products directly to consumers, generally without developing or changing them. Most retailers in this industry sell goods from one or more shops and may also operate an online store. Retailers also undertake administrative activities such as customer service, product merchandising, advertising, inventory control and cash handling.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.