Hat & Cap Stores
Like many retail industries that sell discretionary products, the Hat and Cap Stores industry has grown over the past five years. Industry operators have benefited from rising consumer confidence over the five years to 2018. Still, competition from nonindustry hat sellers has constrained growth and profitability. Brick-and-mortar retailers have contended with the effects of the internet over the past decade. The convenience of shopping from home, coupled with the ability to compare prices across products and websites, has lured consumers away from physical establishments and toward virtual stores. Mass merchandisers also pose a competitive threat because they offer discount prices on similar items. Hat and cap stores are forecast to post marginal growth over the five years to 2023. Stable economic conditions will lead to increasing per capita disposable income, boosting expenditures on discretionary items like headwear. Despite this growth, competitive pressures from online retailers, lessened consumer confidence and a stagnation in available leisure time will continue to limit growth opportunities for industry players.
This industry consists of stores that retail a wide range of hats and caps. Many retailers also undertake sales and administrative activities such as customer service, advertising and cash handling. This industry excludes apparel and sporting goods retailers that generate a lesser portion of revenue from selling hats and caps.
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.
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