Consumer Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 5/3/2021
SIC Codes: 0752, 6531, 7211, 7212, 7213, 7218, 7219, 7231, 7241, 7251, 7261, 7299, 7378, 7384, 7521, 7532, 7533, 7534, 7536, 7537, 7538, 7539, 7542, 7549, 7622, 7623, 7629, 7641, 7699
NAICS Codes: 811, 812
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Consumer Services Industry Profile

Companies in this industry repair machinery, equipment and other products; as well as provide personal and laundry services to customers. Major US service companies include Cintas, Jiffy Lube, Regis Corporation, Safelite, Service Corporation International, and WW International; leading companies outside of the US are Klier Hair Group (Germany), Funespaña (Spain), and Indigo Group (France).

Worldwide, consumer services companies are looking toward emerging markets for growth. Urbanization in developing countries and demographic shifts are driving consumption growth. Three groups -- the retiring and elderly in developed countries, and the working-age populations in China and in North America will generate half of all global urban consumption growth between 2015 and 2030, according to the McKinsey Global Institute. Markets with growing middle classes such as China, Brazil, and India are considered good places for investment as are countries with aging populations, such as Japan.

The US consumer services industry includes about 455,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $300 billion.

COMPETITIVE LANDSCAPE

Consumer income and demographics drive demand in the industry. The profitability of individual companies depends on favorable store location, customer service, and efficient operations. Large companies have economies of scale in purchasing and access to large groups of customers. Small companies can compete through convenient location and providing specialized services.

The US industry's repair and maintenance segment is highly fragmented: the 50 largest ...

 
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