Industry Analysis & Industry Trends
High unemployment and falling disposable income levels prompted many consumers to scale back discretionary spending during the recession. Consequently, men's clothing stores experienced declining demand and many operators resorted to promotional and discount activity to bear the burden. Although the industry is forecast to improve over the five years to 2021, especially as operators strive to increase operational efficiency and cater to niche markets, the industry will experience an increase in external competition as international clothing retailers muscle in on the Canadian retail market... purchase to read more
Industry Report - Starting a New Business Chapter
Although the industry displays a low level of concentration, competing directly with major players and established brands can be difficult without substantial resources. Major players are also well versed within their segments of the market. For instance, Harry Rosen is expected to account for 40.0% of the luxury men's clothing market. This indicates that the company has a well-established brand with the added benefits of experienced staff and various distribution agreements.
The initial investment to establish a new retail outlet and investing in initial inventory may also be a barrier to entry. Moreover, there are no major regulatory or licence requirements to compete in the industry... purchase to read more