Industry Analysis & Industry Trends
Splitting hairs
The domestic industry will continue to face rising competition from imports, as foreign manufacturers produce wigs and hairpieces at a lower cost. Nevertheless, the US Wig and Hairpiece Manufacturing industry will benefit from several trends over the next five years. In particular, the aging population will result in greater hair loss among individuals, boosting demand for wigs and hairpieces. Furthermore, improved disposable incomes will support revenue growth, as individuals renew their spending on aesthetic industry products.... purchase to read more
Industry Report - Starting a New Business Chapter
The barriers to entry in the Wig and Hairpiece Manufacturing industry are low. Firms do not need large capital outlays to produce wigs and hairpieces from purchased human or synthetic hair. Labor costs are significant, but not prohibitive, because skilled employees are not required.
However, industry competition is a force to be reckoned with. Successful entry will require the establishment of a brand name. Many existing players have partnered with celebrities to bolster sales, and in doing so, they have captured market share. The costs required to partner with a marketable brand are a barrier to entry since the costs to establish this relationship are high. Also, these relationships are often built long after successful entry into the industry... purchase to read more