Competition within the industry intensifies as demand grows, with niche operators becoming more common
Melbourne, Australia (PRWEB) April 12, 2013
Kitchen and cookware stores in Australia have dished out hot and cold results in the past five years. The Kitchen & Cookware Stores industry's performance deteriorated during 2007-08 and 2008-09 as weak economic conditions eroded consumer sentiment and with it consumer spending. Despite this, demand was bolstered by a strong uptake in cooking activities by Australians thanks to the popularity of various cooking programs on TV and the desire to cook and eat more healthily. According to IBISWorld industry analyst Ricky Willianto, “as older people tend to cook more of their meals at home, an ageing Australian population is expected to have driven revenue growth in this industry as well”.
Australians have been spending more on their houses and kitchens. An increase in the level of capital expenditure on private dwellings indicates that more Australians are renovating their homes and splurging on various household paraphernalia including kitchenware and cookware. IBISWorld projects industry revenue to grow by 5.1% to reach $823.2 million during 2012-13. “In the five years through 2012-13, annualised revenue growth is estimated at a mere 0.8% due to revenue contractions earlier in the five-year period”, Willianto adds. Kitchen and cookware stores have a low level of market share concentration, and the only major player in the industry is House.
The Kitchen & Cookware Stores industry is expected to become more competitive in the next five years. Many players have been opening new stores across the country and this expansion is expected to continue well into 2017-18. Industry operators are also expected to become more specialised by focusing either on a specific product segment, strategy or demographic.
For more information, visit IBISWorld’s Kitchen & Cookware Stores report in Australia industry page.
Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau
IBISWorld industry Report Key Topics
This industry includes stores that primarily sell kitchen goods and cookware such as pots and pans, bakeware, and knives and utensils used for the preparation of food.
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.