Melbourne, Australia (PRWEB) August 23, 2013
Plus size clothing stores have thrived in a time of economic uncertainty and weak retail conditions. Although other retail industries have suffered over the past five years, the Plus Size Clothing Stores industry has flourished due to strong consumer demand. Overall growth in disposable incomes and consumer sentiment has supported increases in revenue to a degree. However, a significant source of growth comes from consistent rises in Australia's obesity levels. Approximately 63.2% of the population is considered overweight or obese. This represents a large potential consumer market for the industry. Over the five years through 2013-14, industry revenue is expected to grow by an annualised 4.1% to reach $740.7 million.
IBISWorld industry analyst Lauren Magner states, "not only have specialised plus size clothing retailers recognised the opportunity for growth within the industry, but department stores and general clothing retailers are also getting involved, with many expanding their plus size collections over the past five years." This has increased overall competition for industry operators. In addition, the increasing popularity of online shopping has affected demand for plus size clothing stores. Websites that cater specifically to plus size consumers, and existing online clothing stores that have expanded their range of sizes, have further intensified competition for industry operators. As department stores, general clothing retailers and online websites continue to develop new styles and designs in larger sizes, industry revenue is expected to slow marginally. Over the past five years, a surge in store numbers has provided fashion-conscious consumers with a wider selection of on-trend clothing. According to Magner, "although purchase costs for plus size clothing stores are higher than general retail stores, many industry retailers are able to pass on higher prices to consumers." As a result of operating in a relatively niche market, profit margins for the industry are higher than for general clothing retailers. Fashion shows featuring full-figured models are also expected to boost demand for fashionable clothing sold by the industry.
The Plus Size Clothing Stores industry is characterised by a low level of concentration. The top three major players - Specialty Fashion Group, TS 14 Plus Australia and Pretty Girl Fashion Group - all retail women's clothing and have in excess of 100 stores. Over the five years through 2013-14, Specialty Fashion Group and TS 14 Plus have slightly increased their market share due to organic company expansion and acquisitions. However, Pretty Girl Fashion Group has lost market share. In addition, many small independent stores have been entering the market to capitalise on its growth. This has caused a reduction in concentration levels. For more information, visit IBISWorld’s Plus Size Clothing Stores report in Australia industry page.
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IBISWorld Industry Report Key Topics
Retailers in this industry specialise in plus size clothing, which is clothing proportioned specifically for larger men and women. The industry excludes department stores and other clothing retailers that are not primarily engaged in retailing plus size apparel.
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
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