The Australian dress retailing section is one of the largest and competitory markets all over universe. In predating financial twelvemonth, the one-year family outgo in garment sector entirely was recorded as approx. AUD $ 5 billion. ( Weller, 2007 ) The chief grounds behind vesture sector ‘s enormous public presentation are low unemployment rate in state and surging degrees of consumer assurance. This paper hereby emphasizes on showing cardinal cognition on consumer tendencies and rivals in the menswear class of Australia ‘s vesture market.
2. Australian Retail Industry
The retail menswear sector of Australia consists of four chief pillars that are
- Departmental Shops
- Specialty Retail Chains
- Boutiques, and
- Other retail channels ( Weller, 2007 )
Since liberalisation, the construction and market portion of menswear retailing have greatly altered due to the alterations in competitory degrees of diversified vesture sourcing schemes. In conformity with a research, it is revealed that during financial twelvemonth 1998-99, the market portion for forte retail ironss and dress shops was 40 per centum in comparing to thirty four per centum of departmental shops. ( Weller, 2007 ) The staying 20 six per centum was distributed among lifestyle shops, supermarkets and other retailing channels like online retailing, teleshopping webs etc. Some of the key participants operational in Australian menswear sector are Hugo Boss, Rochester, Ron Bennett Big Mens Clothing, Beggs Big & A ; Tall Menswear, Canali, and Lacoste.
3. Consumer Trend in Online Retailing of Menswear
In order to capture extra market portion, cardinal participants like “ Italy ‘s Yoox Group SpA, Neiman Marcus Group Inc, and Saks Inc. ” have launched online shopping sites entirely for menswear to pull male consumers with a assortment of price reductions and offers like free transportation, free returns etc available merely on web sites and non on shops. Findingss of a research conducted by NPD Group had besides greatly contributed in transforming market position of menswear. These findings indicate that in Australia, male consumers spends more on dresss as compared to female consumers, as in predating twelvemonth the female dress sector has witnessed a growing of simply AUD 103.1 billion with growing of 1.1 % whereas, the menswear recorded significant encouragement of 4.4 % doing the figures go up by AUD $ 57.2 billion. ( www.npd.com )
As per a 3 month market study completed by Unity Marketing of Stevens, it is revealed that for the continuance of study and research, the disbursement by males and females was aggregated to about AUD $ 2,400 and AUD $ 1,525, severally, the market tendency besides indicated that female consumers spend more clip on cyberspace seeking for good deals while male consumers are more specific sing their dress demands and budgets. The findings further reveal that about ninety per centum out of six thousand work forces accepted that they often or on a regular basis visit online portals to shop whilst the figures for adult females was merely 86 % out of 10 1000 adult females.
There subsist a figure of surveies delighting that the menswear subdivision of any shop whether physical or on-line, witnesses the lowest sum of dress returns or alteration, every twelvemonth as compared to any other class. Introduction of easy and unafraid payment systems like “ Paypal, Visa, Mastercard, online cheques ” on web sites to do circuit of consumer fusss free and pleasant, is besides a contributory facet that have resulted in augmentation of menswear on-line gross revenues.
The confrontations countenanced by conventional menswear retail merchants in act uponing the on-line retail channels, like payment protection, allotment or the prevalent franchise theoretical account in Australia, are overshadowed by the significant wages in get bying with client retail demands on the “ universe broad web. ” ( Gray, 2006 )
A study conducted by using “ Hitwise Australia ” information specifies that frequenters enthusiastically explores trade names & A ; wares across web sites of popular trade names on a day-to-day footing prior to put to deathing their procuring determinations. ( www.hitwise.com.au )
As acknowledged by a research in Australian Consumer Trends in menswear sector, expedience and clip, both have emerged as enormously cherished ownerships, and are at the minute, major facets for clients in their choice of retail merchant every bit good as retail channel. ( Khosrow-Pour, 2007 ) Online retailing has increased convenience of shopping which farther leaded to increased figure of undertakings that might perchance be accomplished on individual on-line portal of a peculiar trade name i.e. consumer can buy shirt, pant, etc on web site of a preferred trade name with a individual chink and besides acquire attractive price reductions together with quality confidence. ( Khosrow-Pour, 2007 ) As of today, online retailing has emerged as one of the most preferred shopping medium for Australian consumers. ( Weller, 2007 )
Although, the researches and studies indicate towards augmented tendencies of on-line retailing in menswear class, there still subsist great Numberss of people who prefer traditional manner of shopping. ( Gray, 2006 ) Despite of consumer ‘s chief emphasize on house sector in Australia, the Australian menswear sector due to technological alterations, have managed to keep important market portion of vesture industry and is turning at the rate of at least four per centum each twelvemonth. ( Weller, 2007 ) This paper had briefly discussed the Australian menswear retail industry and consumer tendencies in the on-line retailing of menswear class over predating old ages.
Gray, C. ( 2006 ) . Impact of e-commerce on consumers and little houses. Ashgate Printing Ltd.
Khosrow-Pour, M. ( 2007 ) . “ Emerging Trends And Challenges in Information Technology Management. ” Idea Group Inc.
Seeker, P. ( 2006 ) . Consumer behavior: deductions for marketing scheme. McGraw-Hill Australia.
Weller, S. ( 2007 ) . Retailing, Clothing and Textiles Production in Australia.
www.hitwise.com.au. ( n.d. ) .
www.npd.com. ( n.d. ) .