Bridal Stores in the US Industry Market Research Report Now Available from IBISWorld

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A declining marriage rate and heightened competition from other industries will limit bridal store growth. For this reason, industry research firm IBISWorld has added a report on the Bridal Stores industry to its growing industry report collection.

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Americans are increasingly opting to postpone weddings or live together outside the traditional bonds of marriage, limiting the potential market for bridal stores.

The Bridal Stores industry is expected to grow 2.5% per year on average during the five years to 2015. While the slowly declining marriage rate has limited industry growth, economic recovery has increased consumers' wedding budgets and boosted demand for price-premium wedding products retailed by this industry. According to the latest data available from The Knot's annual wedding survey, the average amount spent on wedding gowns expanded from a low of $1,099 in 2010 to $1,357 in 2014. This trend is expected to continue through 2015, with revenue rising 2.3% to $4.3 billion during the year amid rising disposable income.

According to IBISWorld Industry Analyst Britanny Carter, "Americans are increasingly opting to postpone weddings or live together outside the traditional bonds of marriage, limiting the potential market for bridal stores." The marriage rate is in decline; however, competition is on the rise and such pressures have shaped industry performance over the past five years. Many manufacturers are expanding vertically and opening bridal shops, allowing them to sell their products at higher markups and boost revenue. The number of industry players is consequently anticipated to rise. External competition is also on the rise as a growing share of consumers purchase their bridal products online. E-tailers benefit from significantly lower rent and labor costs, allowing them to sell wedding gowns and related products at a lower price than the brick-and-mortar bridal stores that comprise this industry. Moreover, many department stores are expanding their bridal departments to boost revenue and alleviate mounting competition from online stores. As a result, industry profit is expected to contract over the five-year period, despite improving economic conditions.

“Revenue growth is anticipated to slow over the five years to 2020 as the marriage rate continues to decline and external competition grows,” says Carter. “Companies are expected to increasingly invest in labor to provide superior customer service and differentiate from online retailers, and rising wage costs will likely limit profit.” Rising disposable income will nonetheless boost wedding budgets and couples that postpone marriage typically generate stronger incomes, translating to higher wedding budgets.

For more information, visit IBISWorld’s Bridal Stores in the US industry report page.

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IBISWorld industry Report Key Topics

Stores in this industry primarily retail bridal wear, including wedding gowns, veils and other accessories such as shoes, gloves and jewelry. Stores also typically provide alterations, such as hemming, taking in or letting out seams, and lengthening or shortening sleeves.

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.

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Gavin Smith
IBISWorld
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