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Lamp and Lighting Stores in Australia Industry Market Research Report Now Available from IBISWorld
  • USA - English


News provided by

IBISWorld

Mar 04, 2014, 14:00 ET

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IBISWorld Market Research
IBISWorld Market Research

Economic conditions are expected to pick up, but external competition will constrain growth.

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Melbourne, Australia (PRWEB) March 05, 2014 -- The Lamp and Lighting Stores industry has struggled in a subdued retail environment over the past five years, as volatile consumer sentiment and slow disposable income growth have constrained demand. Industry revenue is forecast to increase at an annualised 0.2% over the five years through 2013-14 to reach $714.2 million. Following the global financial crisis, consumer sentiment levels plummeted due to instability in financial markets and overall economic uncertainty. According to IBISWorld industry analyst Lauren Magner, “many households postponed housing construction and renovation plans, leading to declines in revenue for the Lamp and Lighting Stores industry in 2008-09, 2010-11 and 2011-12.” Despite this, demand from house construction and capital expenditure on private dwellings have since rebounded and are expected to contribute to a 3.1% increase in revenue in 2013-14.

The industry is characterised as having a low level of market share concentration. Its two largest players are Sonman Investments Pty Ltd and Lighting Investments Australia Pty Ltd. The Lamp and Lighting Stores industry faces intensifying competition from department stores and other retailers that sell lamps and lighting fixtures. Department stores such as Myer and David Jones and large furniture retailers like IKEA stock a wide range of products, including indoor and outdoor lights. “As these large retail chains have significant economies of scale, they are often able to source products directly from manufacturers at a lower cost”, says Magner. “These cost savings can then be passed on to consumers in the form of lower prices.” This has created fierce competition for the industry, as value-conscious consumers look for the best price. The format of department stores and large furniture and homeware retailers is also appealing to time-poor consumers who prefer to purchase their housewares and furnishings from the same place.

Economic conditions are expected to improve over the next five years, but industry players will increasingly lose market share to department stores and other furniture and houseware retailers. An increase in capital expenditure on private dwellings and housing construction is expected to fuel demand for lamps and lighting fixtures. In response to growing competition, industry operators are anticipated to increase investment in employee training and incentive programs in order to offer customers a superior level of service.

For more information, visit IBISWorld’s Lamp and Lighting Stores report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld Industry Report Key Topics

Firms in this industry are primarily engaged in the retail of lamps and lighting that are used as home furnishings. The retail of lighting fixtures, including ceiling lights and chandeliers, and light bulbs and globes are also included in the industry. Department stores and other retailers that sell lamps and lighting in addition to other goods are excluded from the industry.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

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.

Gavin Smith, IBISWorld, http://www.ibisworld.com.au, +61 396553833, [email protected]

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