Industry Analysis & Industry Trends
The subprime mortgage crisis acted as a flame retardant for the BBQ and Outdoor Cooking Stores industry by inhibiting new household formation and diminishing disposable income, which hurt discretionary purchases on outdoor cooking equipment like barbecues (BBQs), smokers and related accessories. Instead, consumers were more likely to use the equipment they already had or buy secondhand items. Consequently, IBISWorld estimates that industry revenue declined at a five-year annualized rate of 2.8% from 2007 to 2012. As meat consumption and disposable income increasing in the near term, however, revenue is expected to rebound in 2012.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Because barbecuing is a favorite American pastime, the BBQ and Outdoor Cooking Stores industry is expected to continue steadily in the next five years and beyond. Over the past five years, however, a dip in disposable income significantly dented demand for high-ticket items, hampering the industry's contribution to the economy, which is measured by industry value added (IVA). In the 10 years to 2017, IVA is projected to grow only 0.1% annually on average, while GDP is forecast to rise at a 2.1% annualized rate.
A greater number of retailers are selling outdoor cooking equipment and accessories to appeal to and attract consumers, especially as their incomes improve during economic recovery... purchase to read more