Industry Analysis & Industry Trends
The Cigar Lounges industry is mainly affected by per capita disposable income and competition from e-tailers (i.e. web retailers). Since the recession, these drivers have negatively affected the industry, causing US consumers to reduce spending on cigars and seek out cheaper cigars online. As a result, IBISWorld estimates that revenue will decrease at an average annual rate of 2.3% to $3.92 billion over the five years to 2012. The recession did have one positive effect on the industry, though, particularly in 2008. Although many retail industries declined in that year, the Cigar Lounges industry posted growth.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Cigar Lounges industry is in the decline stage of its life cycle. Over the 10 years to 2017, industry value added (IVA), which measures the industry's contribution to GDP, is estimated to decrease at an average annual rate of 0.8%. This compares with the US economy's projected growth of 2.1% annually over the same period.
Falling establishment numbers are also indicative of a declining industry. Firms are closing up their shops mostly in response to decreased profit from necessary reductions in prices (in an effort to compete with e-tailers). In the five years to 2012, the number of enterprises is estimated to decline at an average annual rate of 3.2% to 5,714... purchase to read more