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Consumer Goods Retail in Australia Industry Market Research Report Now Updated by IBISWorld
  • USA - English


News provided by

IBISWorld

Mar 27, 2015, 09:00 ET

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IBISWorld Market Research
IBISWorld Market Research

Consumer Goods Retail subdivision operators have been subject to intensifying competition from online retailers, as consumers have become increasingly comfortable with electronic transactions.

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Melbourne, Australia (PRWEB) March 27, 2015 -- The Consumer Goods Retail subdivision has struggled with tough retail conditions over the past five years. Early in the period, weak economic growth and volatile consumer sentiment due to instability in financial markets led to a tense time for subdivision operators, as households scaled back expenditure on non-essential goods. The household savings ratio increased, indicating that consumers were exercising greater caution with their spending. Consequently, subdivision revenue is expected to decline by an annualised 1.1% over the five years through 2014-15, to total $153.5 billion. According to IBISWorld industry analyst Lauren Magner, “due to widespread economic uncertainty over the period, many households have postponed housing construction activities and renovation plans, leading to a fall in demand for furniture, housewares, appliances, textile goods, hardware, garden tools and building supplies.” Furthermore, as consumers have become more informed about purchases and the value of the products they buy, there has been a growing trend towards bargain hunting. Price has become an important basis of competition in many industries, as value-conscious consumers have adopted more prudent spending habits. Subdivision revenue is expected to fall by 1.6% in 2014-15 as consumers remain frugal.

“Consumer Goods Retail subdivision operators have been subject to intensifying competition from online retailers, as consumers have become increasingly comfortable with electronic transactions,” says Magner. Online stores generally have lower overhead costs and can therefore offer consumers more competitive prices. The low prices and diverse product range available online makes it difficult for traditional retailers to compete, particularly as tech-savvy consumers are increasingly searching for the best value by comparing prices offered instore with those available online. The retailers that have been most affected by the flood of online stores include those operating in the clothing, footwear, accessories, cosmetics, entertainment media and printed material industries. The subdivision's performance is projected to improve slowly over the next five years. Sales will be aided by an increase in disposable incomes and a rise in household formation.

The Consumer Goods Retail subdivision is characterised by a low level of market share concentration. Increasing competition, cost pressures and the mature nature of the consumer goods market have heightened concentration over the past five years. As a result, merger and acquisition activity and consolidation have been on the rise. By consolidating the number of players in an industry, operators have been able to increase their relative market share. The degree of concentration varies between industries. For example, department stores are subject to a high level of concentration. Operators in domestic appliance retailing, hardware retailing and toy and game retailing are all subject to a medium level of concentration, while specialised retailers such as florists exhibit a low level of concentration.

For more information, visit IBISWorld’s Consumer Goods Retail industry in Australia report page.

Consumer goods retailing covers the sale of personal and household items such as clothing, furniture, appliances, computers and garden supplies. This subdivision does not include revenue from the sale of food, fuel, alcohol or motor vehicles. Retailers purchase stock from manufacturers or wholesalers and then sell these products to the public. Although online sales generated by traditional retailers are included in the subdivision, revenue earned by online-only retailers is excluded.
Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld industry Report Key Topics

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, +61 396553838, [email protected]

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