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Hat & Cap Stores in the US - Industry Market Research Report

Publisher IBISWorld
Published Sep 27, 2024
Length 70 Pages
SKU # IBSS19342835

Description

Hat & Cap Stores in the US - Industry Market Research Report


Hat & Cap Stores in the US

Like many retail industries that sell discretionary products, revenue for the industry has had mixed performance over the five years to 2023. For the majority of the five-year period, stores have benefited from rising disposable income, which has revived spending on hats and caps. These small-ticket items are favored by millennial shoppers, which typically include those born in the 1980s and 1990s. Ultimately, this demographic group has spurred revenue growth for the industry in recent years. As the demographic increasingly enters the workforce and its purchasing power increases, demand for industry products is expected to continue growing. However, the outbreak of COVID-19 in late 2019 significantly limited revenue growth in 2020 as many operators were forced to temporarily close down locations and demand for discretionary products decreased in line with skyrocketing unemployment and rapidly declining consumer confidence. This also led to an overall decline in industry profit that hasn't fully rebounded. Consequently, industry revenue has decreased at a CAGR of 4.4% to $1.6 billion entering 2023, including an estimated decline of 2.5% in 2023

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."

Table of Contents

70 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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