Lamp and Lighting Stores in the US Industry Market Research Report from IBISWorld Has Been Updated
New York, NY (PRWEB) March 20, 2015 -- This industry is comprised of retail shops that specialize in the sale of lighting equipment and fixtures. Products sold by industry operators include lamps, chandeliers, ceiling lights, landscape lights and deck lights. The majority of industry products are purchased by homeowners looking to furnish their houses or to redecorate and remodel. Consequently, demand moves with the levels of residential construction and consumer spending. Recovery in those sectors has spurred strong industry growth in the five years to 2015.
Despite improving demand conditions the industry remains fragmented and competitive. The majority of lamp and lighting stores are small, family-owned and localized, serving a nearby residential market. In addition to internal competition between operators, the industry faces external competition from mass merchandisers and online retailers. According to IBISWorld Industry Analyst Amal Ahmad, “Mass merchandisers such as Home Depot are able to offer a variety of lighting fixtures and cater to consumers with the convenience of one-stop shopping.” Meanwhile, online retailers such as Amazon are gaining popularity with households looking for price bargains or for products out of reach geographically. Heightened competition has kept the industry's selling prices low.
The Lamp and Lighting Stores industry exhibits low market share concentration, with no operator generating 5.0% or more of revenue in 2015. In addition, the top four players combined are expected to generate less than 10.0% of revenue over the year. “The industry is highly fragmented, with the majority of operators based in a single city or state and serving a narrow geographic market,” says Ahmad. In addition, the majority of operators are family-owned, with just under half being nonemployers; these are businesses without a registered workforce, with one employee working alone or alongside family members only. IBISWorld expects the Lamp and Lighting Stores industry to remain highly fragmented and with low market share concentration through 2020.
The industry is expected to benefit from further investment in residential construction and remodeling in the next five years. In addition, high disposable income will encourage purchases of pricey lighting fixtures such as chandeliers and recessed lighting. However, competition is expected to remain high, discouraging the entry of new operators and spurring incumbents to control costs better and to add value to their services. Overall, IBISWorld expects revenue to grow marginally.
For more information, visit IBISWorld’s Lamp and Lighting Stores in the US industry report page.
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IBISWorld industry Report Key Topics
Operators in this industry are specialized retailers of lamps and lighting fixtures, for indoor and outdoor use. This industry excludes non-specialty retailers of lamps and lights such as home department stores.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios
About IBISWorld Inc.
Recognized 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 US 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 Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld, +1 (310) 866-5042, [email protected]
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