Hat & Cap Stores in the US - Industry Market Research Report

Hat & Cap Stores in the US - Industry Market Research Report

  • February 2021 •
  • 44 pages •
  • Report ID: 5103865 •
  • Format: PDF
Moving ahead: rebounding economic conditions will boost industry revenue growth

Abstract

Hat & Cap Stores
Like many retail industries that sell discretionary products, revenue for the Hat and Cap Stores industry has grown over the five years to 2019. Industry operators have benefited from rising consumer confidence over the past five years, which has revived spending on hats and caps. These small-ticket items are favored by millennial shoppers. Ultimately, this demographic group has spurred revenue growth for the industry in recent years. Nevertheless, competition from nonindustry hat sellers has constrained growth and profitability. Brick-and-mortar retailers have contended with the effects of the internet over the past decade. Despite this competition, industry revenue has increased over the past five years. Over the five years to 2024, industry revenue is forecast to continue to expand, albeit at a slower rate. Despite economic conditions projected to remain stable during the outlook period, weakend consumer confidence will likely limit growth opportunities.

This industry consists of stores that retail a wide range of hats and caps. Many retailers also undertake sales and administrative activities such as customer service, advertising and cash handling. This industry excludes apparel and sporting goods retailers that generate a lesser portion of revenue from selling hats and caps.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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