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Clothing StoresPublished by: First Research, Inc. Published: Apr. 14, 2008 - 10 Pages Table of Contents
AbstractThe US retail clothing industry includes about 40,000 companies that operate 90,000 stores with combined annual revenue of $130 billion. Large companies include Gap, Limited Brands, Talbots, and Abercrombie & Fitch. The industry is concentrated: the 50 largest companies operate 30,000 stores and account for 65 percent of industry revenue. Most companies operate a single store. An average store has $2 million in annual revenue.COMPETITIVE LANDSCAPE Demand for clothing is strongly influenced by the growth of personal income. During the last recession, same-store sales fell 20 percent at Abercrombie and at Gap. Profitability depends heavily on correct merchandising (product selection) and marketing. Small stores can compete very effectively with large ones by targeting different customers. The industry is labor-intensive: annual revenue per worker is about $110,000. In addition to traditional competition from department stores, new competition in recent years has come from mass merchants like Wal-Mart and catalog and Internet retailers. PRODUCTS, OPERATIONS & TECHNOLOGY Although about 20,000 clothing stores sell products for all members of the family, most specialize in men's, women's, or children's clothes. Within their specialty, stores typically sell a full range of items including clothing, outerwear, and underwear. Many stores also sell shoes, handbags, jewelry, makeup, and perfumes. Merchandising (product selection) is the most important activity for clothing stores. Stores usually target products at a particular type of buyer, determined both by style and price. Style is often defined by the branded merchandise (like Calvin Klein, DKNY, ... Get Full Details About This Report >> |
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