Hiking and Outdoor Equipment Stores in Australia Industry Market Research Report Now Available from IBISWorld
The rise of online retailing and the increasing popularity of personal fitness present significant threats to camping and hiking equipment retailers. For this reason, industry research firm IBISWorld has added a report on the Hiking and Outdoor Equipment Stores in Australia to its growing industry report collection.
Melbourne, Australia (PRWEB) June 19, 2013
Growth for the Hiking and Outdoor Equipment Stores industry in Australia has been pegged down over the past five years as competition from both internal and external sources has pressured the industry. Despite recovering economic conditions, with disposable income levels increasing and consumer sentiment on the rise, industry players have benefited little. Demand for personal fitness and other sports compared with hiking and camping trips remains poles apart. IBISWorld industry analyst Ryan Lin states, “consumers are continually looking for exercise and recreational activities that require minimal planning, resulting in little growth in industry revenue.” As a result, the industry has only grown at an annualised 0.9% over the five years through 2012-13 to total $816.5 million. This low level of growth has largely been driven by camping and hiking enthusiasts, together with the increasing appeal of industry apparel in certain sectors of the fashion market. IBISWorld expects that the industry will experience a further, though limited, opportunity to grow as more of the industry’s products become usable in consumers’ everyday lives. In 2012-13, industry revenue is forecast to grow 1.6%.
In the five years through 2017-18, the Hiking and Outdoor Equipment Stores industry is expected to experience increasingly tough trading conditions as competition intensifies. Other forms of recreational activities are expected to increase in popularity to the detriment of hiking and camping. Furthermore, camping and hiking enthusiasts have increasingly looked to online retailers for a larger range of products and better prices. According to Lin, “many industry players are expected to rebrand their product offerings as suitable for everyday purposes, particularly their clothing and apparel lines.” This trend is expected to buoy the industry against competitive forces, with the functionality of industry products becoming increasingly fashion friendly.
The industry is highly concentrated. Its major companies, Super Retail Group and Kathmandu Holdings, have been able to capitalise on brand awareness, a strong focus on marketing and quality customer service. This has led to rising market shares for the major players and increasing market share concentration over the past five years. Many small-to-medium size players also have significant operations. There are, however, few standalone independent operations left in the industry. For more information, visit IBISWorld´s Hiking and Outdoor Equipment Stores report in Australia industry page.
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IBISWorld Industry Report Key Topics
This industry includes physical stores that primarily sell hiking and outdoor equipment, with a specific focus on camping and hiking supplies.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
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 ten locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/6/prweb10843798.htm