Industry Analysis & Industry Trends
The Clothing Alteration Services industry has rebounded quickly in line with overall economic improvement over the past five years, although the industry is expected to face growing challenges in the coming years. Broader macroeconomic conditions relevant to this industry have improved significantly during this time, with unemployment rates declining steadily and per capita disposable income levels expected to increase. Unfortunately for industry operators, restored demand for clothing alteration services was progressively offset by unfavorable shifts in consumer preferences and mounting competition from other industries that provide identical services, both of which have hampered industry performance during the latter half of the period.... purchase to read more
Industry Report - Industry Key Buyers Chapter
Similar to other industries in the personal and household goods repair and maintenance sector, the Clothing Alteration Services industry has a very low market share concentration, with no company expected to account for more than a 1.0% share of the whole industry in 2016. Moreover, the top 50 companies in this industry still account for less than 7.0% of revenue.
The industry is dominated by nonemployers, which are establishments owned and operated by only one person or family, and therefore have no other employees. In fact, nonemployers are expected to account for more than 96.3% of all industry participants in 2016; IBISWorld estimates these establishments to generate a little under 70.0% of total industry revenue... purchase to read more