Riskiest Industries in the US in 2022

1. E-Book Publishing

2022 Overall Risk Score: 7.23

The E-Book Publishing industry has declined sharply over the five years to 2022. Prior to the current period, e-book sales surged with the introduction of new mobile devices. However, industry-relevant revenue has dropped over the past five years as consumer interest in e-books has diminished. Additionally, there are signs that consumers may be tiring of digital media texts, and they may continue to consume printed material either alone or in tandem with e-books and audiobooks when seeking longer-form book content. Over the five years to 2022, industry revenue is expected to fall at an annualized rate of 4.3% to $3.7... Learn More

2. Bowling Centers in the US

2022 Overall Risk Score: 6.80

The Bowling Centers industry prospered over most of the five years to 2021 as operators offered an expanded array of services to consumers. Specifically, rising disposable income drove growth in discretionary spending, contributing to revenue gains prior to the COVID-19 (coronavirus) outbreak. However, amid the pandemic, state governments ordered nonessential businesses to close and residents to shelter in place. These mandates, in turn, hurt industry demand drastically. To the industry's benefit, industry establishments have been permitted to reopen due to the rollout of COVID-19 vaccines. Consequently, industry revenue has decreased at an annualized rate of 1.6% to $3.5 billion over... Learn More

3. VoIP in the US

2022 Overall Risk Score: 6.76

While largely struggling in previous years, the VoIP industry has benefited over the five years to 2021 from growing demand following the COVID-19 (coronavirus) pandemic. Voice over Internet Protocol (VoIP) technology converts voice communications into digital data transmitted using a high-speed connection. The industry declined during the initial years of the period as competition from standard cell phone services and from free video chat services caused demand to decrease. However, the effects of the pandemic have led to demand shifting in favor of industry operators, with much of the world transitioning to remote communication. In 2020, industry revenue increased 18.5%... Learn More

4. Coffin & Casket Manufacturing

2022 Overall Risk Score: 6.71

The Coffin and Casket Manufacturing industry has experienced significant volatility over the five years to 2022. Although demand for deathcare products and services generally increases in line with the aging baby-boomer population, the expenses associated with burial and a greater cultural acceptance of cremation have sharply muted demand for caskets. Since cremations are typically the lowest-cost funeral method, this has put pressure on funeral homes, increasing price-based competition in this upstream industry and curtailing manufacturers' profit. Nonetheless, the COVID-19 (coronavirus) pandemic caused an unprecedent number of deaths and as a result, boosted demand for industry products. Overall, industry revenue is... Learn More

5. Women's Clothing Stores in the US

2022 Overall Risk Score: 6.63

The market for the Women's Clothing Stores industry is changing. Due to declining mall traffic and competition from thriving superstore retailers, industry revenue is expected to fall at an annualized rate of 6.7% to $30.7 billion over the five years to 2021. Despite the industry's overall decline, rising disposable income and consumer sentiment during the majority of the five-year period are expected to boost some specialty and high-end retailers. While price-conscious consumers among lower- to middle-income households are important to industry sales, the willingness of higher-income consumers to spend on luxury clothing and accessories has mitigated further declines in the... Learn More

6. Furniture Repair & Reupholstery in the US

2022 Overall Risk Score: 6.58

The Furniture Repair and Reupholstery industry is composed of businesses that reupholster, refinish, repair and restore furniture. This industry has experienced decline over the five years to 2021. Prior to 2020, the industry was threatened by falling furniture prices, which frequently made furniture more expensive to repair than to replace. In 2020, the COVID-19 (coronavirus) pandemic caused a recession, leading industry revenue to fall sharply. As a result of these factors, industry revenue has fallen during the current period, declining an annualized 4.7% to $1.5 billion, including an increase of 5.7% in 2021 alone.

During the current period, demand for the... Learn More

7. Wig & Hairpiece Stores

2022 Overall Risk Score: 6.57

The Wig and Hairpiece Stores industry represents a niche product retailer within the hair-care sector. Over the five years to 2021, industry revenue is projected to decrease at an annualized rate of 0.9% to $358.6 million, including an increase of 3.3% in 2021 alone. The industry caters to two distinct consumer groups: individuals that purchase wigs and hairpieces for aesthetic purposes and those that purchase cranial prothesis wigs, which are for people who have lost their hair due to a medical condition or treatment. As the economy has improved for the majority of the period, rising disposable income has encouraged... Learn More

8. Telecommunication Networking Equipment Manufacturing in the US

2022 Overall Risk Score: 6.49

The Telecommunications Networking Equipment Manufacturing industry produces wired telecommunication equipment including network switches, routers, modems and gateways. This industry has experienced consistent declines in revenue over the five years to 2022 despite an increasing number of broadband connections and a rising number of consumers that have acquired computers . Domestic demand for industry products has greatly declined in the period, with a significant amount of demand satisfied by imports. The industry also experienced significant declines in revenue in 2020 due to volatility in the global economic environment brought on by the COVID-19 (coronavirus) pandemic. Consequently, revenue has plummeted in the... Learn More

9. Online Perfume & Cosmetic Sales

2022 Overall Risk Score: 6.48

The Online Perfume and Cosmetic Sales industry has expanded rapidly over the five years to 2022, largely due to shifting consumer purchasing patterns. As more consumers purchase items online, industry demand has increased at a robust annualized rate of 6.7% to $16.0 billion. The growing prevalence of broadband and mobile internet connections has underpinned changing consumer habits by facilitating the ease of online shopping and enabling consumers to quickly compare prices among retailers. At the same time, rising consumer spending for the majority of the five-year period has encouraged shoppers to splurge on industry goods and incentivized new companies to... Learn More

10. Cigarette & Tobacco Products Wholesaling in the US

2022 Overall Risk Score: 6.48

The Cigarette and Tobacco Products Wholesaling industry has experienced steady growth over the five years to 2021, despite contending with growing regulatory and economic challenges, as well as shifts in consumer preferences. During the current period, the rapidly growing popularity of e-cigarettes has caused major players to rush into this product segment, fueling the growth behind the industry. For example, in 2018, Altria Group Inc. purchased a 35.0% stake in Juul Labs Inc., a leading e-cigarette company. Additionally, the COVID-19 (coronavirus) pandemic in 2020 temporarily boosted demand for cigarettes, as disposable income and stress levels rose, while also curbing industry... Learn More