Clothing Retailing in Australia - Industry Market Research Report

Clothing Retailing in Australia - Industry Market Research Report

Clothing Retailing in Australia

The Clothing Retailing industry is susceptible to consumer spending patterns, which is why the COVID-19 outbreak and digital revolution have beset its performance in recent years. Lockdowns and trading restrictions forced most retailers to shut down temporarily, eroding instore sales and prompting their ingress into the digital space. Clothing retailers have continued to merge the physical and online sectors as part of their multichannel agendas, developing websites and mobile apps to boost the number of customer touchpoints. This trend has enabled retailers to capitalise on the pandemic-driven online shopping boom. Revenue has been growing at an annualised 3.4% over the past five years and is expected to total $22.2 billion in 2022-23. This includes an anticipated 8.1% leap in the current year, thanks to revenge spending as pandemic restrictions have eased and skyrocketing inflation stoking sales for clothing retailers.

Clothing retailers purchase a variety of apparel products and accessories from wholesalers and manufacturers, then sell these products directly to consumers, generally without developing or changing them. Retailers in the industry sell goods in one or more shops, and may operate an online store. The industry excludes department stores and online-only retailers.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."