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Formal Menswear Retailing in Australia - Industry Market Research Report

Publisher IBISWorld
Published Jul 04, 2024
Length 71 Pages
SKU # IBSS19022674

Description

Formal Menswear Retailing in Australia - Industry Market Research Report


Formal Menswear Retailing in Australia

Operators in the Formal Menswear Retailing industry have posted mixed results over the past five years. Office-based work's rising prominence fuelled demand for industry products over the early part of the period. A range of factors supported demand during this period, including Australian consumers' increasing wealth, the declining cost of formal menswear, and consumers' increased access to information and options regarding men's fashion online. Despite earlier gains, industry revenue declined following the COVID-19 outbreak in March 2020. Lockdown periods, trading restrictions, work-from-home directives and restrictions on group gatherings effectively led to a drop in demand for formal menswear, which affected industry revenue. As a result, industry revenue is expected to decline at an annualised 1.4% over the five years through 2021-22, to $1.1 billion. This trend includes a weak rise of 0.6% in the current year, due to a rise in the number of non-manual employees in the workforce, disposable income growth and an expected return to COVID-19 normal trading conditions.

Industry operators primarily retail formal menswear such as suits, shirts, ties and jackets. The industry excludes sales of formal menswear from department stores and online-only retailers, but includes the online operations of bricks-and-mortar stores.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

71 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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