According to a new report from industry research firm IBISWorld, revenue in the growing kitchen and cookware stores industry is forecast to perk up in 2011 and 2012
Los Angeles, California (PRWEB) October 24, 2011
According to a new report from industry research firm IBISWorld, kitchen and cookware stores are growing speedily. However, single line retailers face stiff competition from mass merchandisers like Walmart and Target. That is not to say that the industry is not without its own weapons. Specialty retailers like Sur La Table, along with its larger competitor Williams Sonoma, have exploited the growing popularity of home cooking – partly a result of straitened economic times and partly due to broader lifestyle preferences towards healthy home-cooked food – and invested in e-commerce.
According to a new report from industry research firm IBISWorld, revenue in the growing kitchen and cookware stores industry is forecast to perk up in 2011 and 2012. Key products include pots, pans, small kitchen electronics, textiles and rugs, baking supplies and other related products. Nonetheless, single line retailers face stiff competition from mass merchandisers like Walmart and Target. Shim adds that “the news will not be all bad for the industry, though. As disposable income levels increase, customers will loosen their budgets and splurge on higher-quality items for everyday use. As a result, consumers will likely seek options beyond the deals of mass merchandisers and return to the smaller stores that offer higher-quality and customized products.”
Products sold by this industry have become integrated into the lives of Americans. As people purchase houses, they tend to purchase new items for cooking. Despite such integration, there has been little product innovation in the home furnishings market. To this point, no new products have been introduced to change the industry landscape. Rather, changes in products have been mainly cosmetic, including minor changes in designs to satisfy changing demand. That is not to say that the industry is not without innovation. Specialty retailers like Sur La Table, along with its larger competitor Williams Sonoma (whiose brands include Williams-Sonoma, Pottery Barn, Pottery Barn Kids, West Elm and Williams-Sonoma Home), has a catalog, gift registry and website aimed at bringing in more consumers and better competing with mass merchandisers.
Products sold by the Kitchen and Cookware Stores Industry have become integrated into the lives of Americans. As people purchase houses, they tend to purchase new items for decoration, home utility and cooking. Companies like Sur La Table, Bed Bath & Beyond, Walmart and Williams-Sonoma have also been able to ride on the back of the growing popularity of cooking – partly a result of straitened economic times and partly due to broader lifestyle preferences towards healthy home cooking. Around a third of Sur La Table stores offer in-house cooking classes and the company claims to offer the largest vocational cooking class programs in the country.
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