Industry Analysis & Industry Trends
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Industry Report - Industry SWOT Analysis Chapter
The Hat and Cap Stores industry is in the mature phase of its life cycle. The industry's value added (a measure of its contribution to the US economy) is forecast to grow at an average annual rate of 1.4% between 2007 and 2017. Meanwhile, US gross domestic product is expected to grow at a similar 1.9% per year. Because the industry is steadily contributing to the economy, it is categorized in a mature phase.
Furthermore, the number of industry participants has been stagnant over the five years to 2012, growing only 0.5% per year, on average. While the number of firms is expected to increase at an average annual rate of 2.3% over the five years to 2017, the niche nature of hat and cap stores will not allow for substantial expansion beyond this period of rebound. Add... purchase to read more