Industry Analysis & Industry Trends
In the five years to 2014, the Dry Cleaners industry has faced progressively challenging conditions. In the grip of heightened unemployment, consumers were less willing to spend on discretionary services such as dry cleaning or full-service laundry. Moreover, the industry's declining sales are expected to continue in the next five years. Demand for industry services will be negatively affected by the continued adoption of business-casual clothing, which has resulted in a long-term decline in demand for professional dry cleaning services. Growing competition from more affordable self-service or coin-operated laundromats is also projected to cut into industry sales... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Dry Cleaners industry is in the decline stage of its industry life cycle. Indicators of this stage include falling employment levels, fewer companies and establishments, decreased profit margins and an accelerated industry consolidation. Industry value added, which measures the industry's contribution to GDP, is projected to decline at an average annual rate of 2.0% from 2009 to 2019. By contrast, GDP is projected to rise on average 2.5% over the same period.
Moreover, the industry remains highly competitive; there are currently an estimated 39,765 dry cleaners throughout the nation, and the four largest dry cleaners combines still generate less than 1.2% of industry sales... purchase to read more