Melbourne, Australia (PRWEB) October 24, 2012
Carrying on from the softened economy on the back of the global financial crisis, the Luggage Stores industry managed to record annualised growth of 1.5% over the five years to 2012-13 to reach $77.2 million. The trends experienced in the travel sector largely supported industry growth over the past five years. According to IBISWorld Industry analyst Craig Shulman, “the strength of the Australian dollar renewed interest in international travel, while the entry of budget airlines supported growth in domestic travel over the period”. In 2012-13, industry revenue is expected to rise 1.2% for the year. As the economy continues to go from strength to strength, a rise in consumer confidence is expected to further assist revenue growth for the industry.
Over the five years to 2017-18, industry revenue is expected to grow. The growth will largely stem from continued demand for domestic and international travel, providing the perfect backdrop for increased demand of convenient and easy to use luggage. However, industry growth will be hindered by increased competition over the period, as larger players with lower prices attract consumers. “This will drive down prices across the industry as other players vie to remain competitive”, says Shulman.
The Luggage Stores industry largely consists of companies that retail luggage in addition to other items such as leathergoods, purses and wallets. As a result, the industry is highly fragmented and deemed to have a low level of market share concentration. Market share concentration is expected to rise over the next five years. This rise in concentration should not be significant due to the limited number of smaller players meeting domestic demand. The industry's largest player is Strandbags.
For more information, visit IBISWorld’s Luggage Stores report in Australia industry page.
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IBISWorld industry Report Key Topics
Companies in this industry retail luggage, such as carry-on and rolling luggage, suitcases, briefcases and trunks.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.