Swimming Pool and Spa Equipment Stores in Australia Industry Market Research Report Now Available from IBISWorld
The Swimming Pool and Spa Equipment Stores industry is starting to emerge from troubled waters caused by the negative impact of severe drought, stringent water restrictions and weak consumer spending over the past five years. For this reason, industry research firm IBISWorld has added a report on the Swimming Pool and Spa Equipment Stores industry in Australia to its growing industry report collection.
Melbourne, Australia (PRWEB) January 08, 2013
The Swimming Pool and Spa Equipment Stores industry in Australia is starting to emerge from troubled waters due to the negative impact of severe drought, stringent water restrictions and weak consumer spending over the past five years. These factors have depressed demand for the industry's products and revenue is expected to grow at an annualised rate of just 0.2% over the five years through 2012-13 to reach $578.6 million. The severity and prolonged duration of Australia's worst ever drought caused revenue to plummet earlier in the five years ending 2012-13, as the cost and difficulty of installing and maintaining swimming pools and spas rose. Added to this was the downturn in consumer spending at the onset of the global financial crisis. According to IBISWorld Industry analyst Suzannah Rowley, ‘consumers shut their wallets and cut spending on discretionary goods such as swimming pools, spas and equipment in order to save money and pay off household debt'. Thankfully, the Australian economy rebounded well and the easing of drought conditions since 2010-11 has helped the industry recover and should help revenue increase by 0.1% in 2012-13.
The industry's performance will continue to improve over the five years through 2017-18 with revenue forecast to grow. ‘This is likely to be supported by an improvement in weather conditions, a marginal increase in water availability, positive consumer sentiment and the expected rise in income levels', says Rowley. Moreover, the increase in discretionary incomes over the five-year period is also likely to help boost industry profit.
The Swimming Pool and Spa Equipment Stores industry has a low level of concentration and is highly fragmented. Most swimming pool and spa equipment stores are independently owned and service local markets. There are a number of franchise businesses that take advantage of group marketing, product and administrative synergies. However, even when the revenue of individually owned franchises is consolidated their market share is relatively small. Competition within the market is increasing and the industry is consolidating to a small degree. Swimart, a national swimming pool and spa equipment franchise, recently waived the initial franchise fee for existing independent pool stores in an attempt to increase store numbers and accelerate growth. IBISWorld expects the industry's level of concentration to remain low over the five years through 2017-18. The industry's largest players are Clark Rubber, PoolWerx and Waterco.
For more information, visit IBISWorld's Swimming Pool and Spa Equipment Stores report in Australia industry page.
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IBISWorld industry Report Key Topics
Companies in this industry primarily sell above-ground and in-ground swimming pools, spas and swimming pool equipment, including pool chemicals, cleaning and maintenance equipment and recreational items intended for swimming pool use.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/1/prweb10296609.htm