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Clothing Retail in Australia: Market Size, Retailer Strategies and Competitor Performance
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Zahlen und Fakten zur Studie: | 109 seiten | |||||||||
| Inhalt der Studie: |
Introduction
Australia avoided recession aiding its position as a hot spot for international expansion of clothing retailers. In 2010 clothing specialists experienced a decline in sales due to fallin.....
Introduction Australia avoided recession aiding its position as a hot spot for international expansion of clothing retailers. In 2010 clothing specialists experienced a decline in sales due to falling consumer confidence and heightened online competition from foreign retailers. The clothing market is projected to shrink in 2011, returning to growth in 2012 as foreign entrants revitalize apparel spending. Features and benefits * Benchmark your firm's performance by accessing profiles of 12 leading specialist retailers in Australia as well as other key players in the sector. * Make informed investment decisions based on market analysis and forecasted expenditure by product category to 2013. * Assess the recent performance and developments across different channels, comprising specialists, department stores, discounters and online. * Ensure marketing and distribution strategies are up-to-date by uncovering competitor activity in areas such as e-commerce and social networking. * Make informed pitches to potential clients interested in entering Australia by gaining insight into market and competitor dynamics. Highlights The outlook for the Australian and clothing market for 2011 is poor, as consumer confidence has dived after a series of interest rate rises in 2010 and several natural disasters at the beginning of 2011. A levy is coming into effect in July 2011 in Australia to help finance rebuilding and this will further depress discretionary income. International retailers, previously put off entering the market due to the supply chain and logistical issues, now have more of a presence in the Asia Pacific region, and have the capability to effectively serve the Australian market. H&M, Uniqlo, Forever 21 and Arcadia's Topshop are expected to follow Inditex into the market. An increasing number of international retailers are offering online shopping to Australia. The strength of the local currencies, the fact that consumers can avoid the 10% GST buying online and a wider range of products offered by foreign companies are driving demand for international online shopping and further threatening domestic players. Your key questions answered * Who are the key competitors within the clothing market? How do they perform relative to my company and what distribution methods do they use? * Which incumbents sell online and what does the influx of international players and adoption of e-commerce mean for the market and my business? * What was overall demand for womenswear, menswear and childrenswear across Australia and New Zealand in 2010 and how is this going to develop to 2013? * What consumer trends, marketing developments and channel opportunities should I be aware of to maximise my performance in the market? * What are the key developments for players such as Just Group, Colarado Group, Cotton On, Country Road, Noni B, Oroton, Sussan, David Jones and Myer? [Studien Infos ausblenden] |
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OVERVIEW Introduction Summary KEY FINDINGS Australia's economy avoided recession, but low consumer confidence is damaging the domestic retail industry Clothing retail in Australia slumped in 2010 The Australian clothing market will record a CAGR of 0.7% over the next three years The landscape of the Australian clothing market is about to be radically redrawn Mid-market retailers will struggle to maintain profit margins International online retailers are a major threat The New Zealand clothing market will record a CAGR of 1.7% over the next three years New Zealand is also threatened by international online sales Global clothing chains have not yet targeted New Zealand MARKET CONTEXT AND OUTLOOK Overall retail spending in Australia rose in 2010, while the sales achieved by clothing specialists declined Overall retail sales increased by 2.5% in 2010 The Australian clothing market shrank by 0.4% in 2010 Verdict estimates the size of the Australian clothing market to be worth A$17.2bn in 2010 Verdict forecasts that the Australian clothing market will record a CAGR of 0.51% from 2010–13e The Australian economy weathered the global economic downturn better than other developed countries Australia experienced GDP growth despite the economic recession The economy's dependence on commodity exports helped Australia to weather the downturn Rising inflation is pushing up interest rates Recent interest rate rises have increased the cost of borrowing and reduced consumer buying power Multiple interest rate rises reflect confidence in the economy Interest rate rises made trading conditions in Australia very challenging for retailers The 2010 federal election had a further negative impact on consumer confidence Unusually bad weather impacted upon sales of new collections The Australian clothing market is fragmented and dominated by local firms The Australian clothing market is highly fragmented The menswear segment is dominated by many small retailers The Australian clothing retail sector is dominated by national players Specialist clothing retail sales declined in 2010 Westfield is a powerful shopping mall operator in Australia Sales through department stores fell in 2010, while online sales continued to grow Department store sales declined in 2010 Grocery stores do not play an important role in the Australian clothing market Online sales are booming, particularly for foreign retailers Retail sales in Australia have had a weak start to 2011 Total retail sales have been flat in 2011 Clothing and footwear retail sales had a particularly weak start to 2011 The Queensland clothing market grew by 11.0% in Q1 2011 Retail sales in Australia are unlikely to recover until 2012 On average, Australian retail stores employ twice as many employees as stores in New Zealand In 2010 retail spending in New Zealand was stronger than it was in Australia The overall retail market in New Zealand grew by 2.3% in 2010 The New Zealand clothing market grew by 1.3% in 2010 Verdict estimates that the New Zealand clothing market will record a CAGR of 2.4% between 2010 and 2013 Specialist sales in New Zealand increased by 7.0% in 2010 New Zealand's economy is in a vulnerable recovery Specialists performed better than department stores in 2010 Specialists sales rose in 2010 and were affected by the Christchurch earthquakes in 2011 Department store sales fell in 2010 International retailers are increasingly shipping products to New Zealand In New Zealand, clothing outlets are proliferating STRATEGIC ISSUES Australian retailers have been hurt by the strong local currency, online shipping from foreign retailers, and high rents The strength of the Australian dollar has made international brands cheaper to purchase for Australian consumers Potential legislation changes in e-commerce could protect local retailers Retail rents in Australia are among the most expensive globally Population in Australia and New Zealand is growing and concentrated in several metropolitan areas Australia's population is growing and is concentrated in three major regions Australia has a multicultural society, and further immigration will drive population growth New Zealand's population is growing, and one in three people lives in Auckland Changing consumer demographics will significantly affect the retail environment in Australia and New Zealand Clothing retailers need to prepare for Australia's and New Zealand's aging population The growing number of plus-size consumers requires further considerations and offers opportunities Australian consumers are increasingly interested in online shopping The online channel has grown rapidly in Australia There are a number of reasons consumers choose online shopping Retailers have not yet fulfilled consumer expectations online M-commerce has significant potential in Australia Only a small number of Australian clothing retailers have international operations The majority of Australian clothing retailers have a limited presence beyond Australia and New Zealand South Africa and Singapore are the most popular markets for Australian retailers looking to expand internationally An increasing number of Australian retailers are launching e-commerce websites In menswear mid-market is crowded but there is a gap in the market for formalwear Australian retailers have shown an interest in expanding their accessory ranges A number of Australian clothing retailers have tried pop-up shops before launching permanent stores Australian retailers have been slow to utilize social networking as a means of building closer relationships with their customers Australian retailers are making use of designer and high street collaborations International clothing retailers are changing the landscape of the Australian clothing market A growing number of foreign retailers are shipping to Australia In New Zealand, international online sales are also threatening domestic retailers Australia has recently become a hotspot for international expansion New Zealand is usually missed by foreign retailers, or considered as an extension to the Australian market COMPANY COMPARISONS Key operating statistics COLORADO GROUP Company overview: Colorado Group is a major retailer that has recently gone into administration Recent key developments: the Colorado chain is being eliminated Trading record: Colorado debts are estimated to amount to A$400 Store portfolio: Colorado Group is undergoing a major restructuring COTTON ON Company overview: Cotton On is an Australian clothing retailer with an international presence Recent key developments: Cotton On has launched an e-shop for Australia Store portfolio: approximately 190 Cotton On stores are located outside of Australia COUNTRY ROAD Company overview: Country Road is owned by a South African company Recent key developments: Country Road launched the Trenery brand and an e-commerce site Trading record: despite the launch of Trenery, revenue growth has been unimpressive Store portfolio: Country Road has been aggressively rolling out new stores GLORIOUS SUN ENTERPRISES Company overview: Glorious Sun Enterprises owns Australian label Jeanswest Trading record: the group focuses on retail and has recorded a strong financial performance Store portfolio: Jeanswest has been expanding internationally JUST GROUP Company overview: Just Group has six clothing retail chains in Australia Recent key developments: Just Group is on the lookout for further acquisitions Trading record: Just Group's financial performance deteriorated in H1 2011 Store portfolio: Just Group has been closing down marginal stores NONI B Company overview: Noni B focuses on mature women Recent key developments: Noni B focuses on strengthening its Liz Jordan brand Trading record: Noni B announced a weak performance for H1 2011 Store portfolio: after periods of contraction, Noni B's retail network expanded in H1 2011 OROTON Company overview: Oroton is an Australian luxury apparel and accessories retailer Recent key developments: Oroton has expanded internationally Trading record: Oroton has been experiencing healthy growth since 2007 Store portfolio: Oroton's retail network has been growing steadily THE PAS GROUP Company overview: The PAS Group has a number of smaller Australian labels Recent key developments: The PAS Group is set to double its retail network Trading record: the group's sales revenue rose slightly in FY2010 Store portfolio: The PAS Group has an ambitious expansion plan for the next two years PRETTY GIRL FASHION GROUP Company overview: Pretty Girl Fashion Group retails womenswear Recent key developments: the company recently opened two new stores in Brisbane Trading record: the group has recovered from a period of revenue decline Store portfolio: all of the group's stores are located in Australia SPECIALTY FASHION GROUP Company overview: Specialty Fashion Group has a number of retail chains aimed at mature women Recent key developments: SFG sold one of its brands and became a licensee for La Senza Trading record: in H1 2011 SFG's trading performance deteriorated significantly Store portfolio: the group's store network contracted in FY2010 and FY2011 SUSSAN GROUP Company overview: Sussan Group sells womenswear for all ages Recent key developments: Sportsgirl is expanding its accessories range Trading record: Sussan Group reported bumper profits on flat sales in 2010 Store portfolio: Suzanne Grae has the largest retail network WITCHERY Company overview: Witchery is an Australian success story based on Zara's principles Recent key developments: Witchery is set to go public Trading record: Witchery is privately owned, meaning that available financial data are limited Store portfolio: Witchery has a rapidly expanding retail store network OTHER AUSTRALIAN SPECIALISTS Cue Clothing Webster Holdings Lowes-Manhattan Apparel Group NON-SPECIALISTS: DEPARTMENT STORES AND DISCOUNTERS IN AUSTRALIA Department stores: Australia's two major department store retailers are in fierce competition Myer and David Jones are aggressively competing over labels Individual labels can benefit from department store rivalry Myer is the largest department store in Australia and is rapidly growing its store network David Jones is to exit a number of locations, but has added a range of new brands to its portfolio Discounters: Target and Kmart are the leading discounters in Australia Target has two formats in Australia, Target and Target Country Kmart's retail network spans across Australia and New Zealand The third player in the Australian discounters market is Adelaide-based Harris Scarfe WESTFIELD GROUP Individual retailers can significantly benefit from co-operation with the Westfield Group Retailers can benefit from Westfield's retail locations and international presence Retailers can also benefit from Westfield's online shopping mall Westfield operates shopping malls across four countries, with Australia being its largest market Westfield made a strong net income recovery in 2010 Westfield underwent capital restructuring in 2010 Westfield has a number of shopping malls under construction NEW ZEALAND: HALLENSTEIN GLASSON HOLDINGS Company overview: Hallenstein Glasson runs three clothing retail chains Recent key developments: a new CEO has recently been appointed Trading record: the group's financial performance has been volatile Store portfolio: the group has been expanding its Glassons and Storm retail chains NEW ZEALAND: PUMPKIN PATCH Company overview: Pumpkin Patch has retail operations in five markets Recent key developments: Pumpkin Patch has been focused on international expansion Trading record: Pumpkin Patch has recently been hurt by its expansion in the US Store portfolio: Pumpkin Patch has been continuously expanding its retail presence NON-SPECIALISTS: DEPARTMENT STORES AND DISCOUNTERS IN NEW ZEALAND The most populous cities in New Zealand have high-end department stores which offer a range of brands Farmers department stores retail mid-market products The Warehouse is New Zealand's largest discounter APPENDIX Exchange rates Further reading Ask the analyst Global Retail FreeView Verdict consulting Disclaimer [Inhaltsverzeichnis ausblenden] |
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