Industry Analysis & Industry Trends
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Unlike most industries, psychic services providers benefited from the economic downturn. Consumers concerned about their financial futures turned to psychics for guidance during the recession, which helped boost revenue for the industry. The number of operators in the industry also increased during the recession, leading to increased competition. In the coming years, this heightened price-based competition, coupled with increased legislation at the local level, will cause industry growth to slow.... purchase to read more
Industry Report - Industry Locations Chapter
The regions with the greatest concentration of industry establishments are the Southeast, West, Mid-Atlantic and Great Lakes. The distribution of industry establishments is largely based on the share of the population within a given region as well as the age structure of that population. Additionally, some regulation dictates the number of psychics allowed to operate in a given geographic area.
Psychic establishments are generally located near large population centers to increase the size of their client base. The Southeast makes up about 25.2% of the US population; likewise, this region has the largest share of industry establishments at about 27.5% of the total. Over the past decade, population density in the Southeast has been growing, with growth of 16.0% compared to a 9.1% i... purchase to read more