Industry Analysis & Industry Trends
Falling demand for dry cleaning services, unfavorable shifts in consumer preferences and increasing competition from coin-operated laundromats and household washing machines have led to the Dry Cleaners industry's decline in the past decade. In the early part of the five-year period to 2015, poor economic conditions led many consumers to reduce spending on discretionary laundry services. Moreover, a long-term consumer shift toward low-maintenance clothing has curtailed demand for dry cleaning services that were once necessary for many garments. As a result, industry revenue has decreased slightly over the past five years and is expected to accelerate its decline through 2021... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Dry Cleaners industry has a very low level of market share concentration. In 2016, the top four dry cleaning companies, all of which are national franchisors, represent less than 3.0% of total industry revenue. Furthermore, the top 50 dry cleaners combined are expected to generate only 8.0% of industry sales. Since the majority of enterprises are family-owned companies that employ fewer than five people, the industry remains highly fragmented. Most companies operate with a limited geographic scope and serve local or regional clienteles. Furthermore, only 3.7% of all companies operate more than one dry cleaning facility.
Despite the industry's highly fragmented nature, there has been some industry consolidation in recent years... purchase to read more