Industry Analysis & Industry Trends
This declining industry has experienced falling revenue over the past five years. Changing consumer preferences and increased competition from imports has caused declines in demand for domestic hosiery and sock products. Industry players are challenged with innovating and developing products that stimulate demand to recapture some of the sales lost over the past decade. Firms that can encapsulate consumer requirements and offer hosiery and sock products that enhance their satisfaction will be in a better position to grow in a shrinking environment... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Hosiery Mills industry is in the decline stage of its life cycle. Over the 10 years to 2018, industry value added, which measures the industry's contribution to GDP, is expected to fall at an annualized rate of 5.6%. This falling growth rate indicates that the industry will contract, while the US economy grows at a projected rate of 2.1% annually over the same period. Decreasing consumption by buyers and falling enterprise numbers also indicate a declining industry.
High and rising import penetration has caused purchases of hosiery and socks manufactured by domestic firms to fall in the five years to 2013... purchase to read more