In The United States, Some Industries Are Declining And The Clothing Industry Is Also Among Them.

As the most developed place in the world economy, the United States has nurtured many innovative business models.

However, with the improvement of technology and the competitiveness of other countries, some leading business models have come to an end in the US.

IBISWorld, the largest industry market research firm in the US, has recently discovered the industry that is on the decline in the US.

China's industrial layout is similar to that of the United States. China's industries may be able to get some inspiration from it.

Footwear industry

Representative enterprises: Vf Corporation, Heng Shi Brand Company and Keller Wood Co., Ltd.

Revenue in 2012: $8 billion 600 million

Revenue in 2017: $8 billion 200 million

The apparel and footwear industry in the United States has been seriously affected by overseas production and outsourcing services.

Over the past 10 years, the annual average revenue of garment industry has dropped to 8.2%.

The number of garment factories in the United States dropped from 2272 in 10 years ago to 1196 now.

However, IBISWorld believes that there is still a glimmer of hope for the clothing industry and footwear industry, because the United States also has some high-end clothing and footwear brands with a certain history and culture. If they are well managed, they will not disappear easily.

Photo washing industry

Representing Enterprises: Kodak

Revenue in 2012: $1 billion 510 million

Revenue in 2017: $890 million

From "you just press the shutter, leave the rest for us to do", "string up every moment, do not let her slip away" to "share the moment, share life", Kodak's technological innovation in the global film and video has brought unprecedented experience of life sharing.

However, not long ago, the magnificent performance of the centenary shop went to the scene to file for bankruptcy protection.

Kodak's curtain call is just a microcosm of the decline of the industry.

The competition between digital cameras and camera phones is a fatal blow to the photo processing industry.

Consumers are turning to digital devices and online photo sharing platforms, and fewer and fewer people will play out photos.

In the past 10 years, the photo printing industry has been shrinking at an annual rate of 11.4%.

IBISWorld predicts that in the next five years, the annual income of photo industry will be reduced by 9.9%.

Electrical maintenance industry

Representing Enterprises: Sears holdings and best buy Group

Revenue in 2012: $3 billion 680 million

Revenue in 2017: $3 billion 480 million

Do you remember when you last repaired the TV? I'm afraid it was a long time ago.

With the continuous improvement of technology, the quality of household appliances is getting better and better, which leads to a sharp decline in maintenance demand.

Appliance manufacturers are full of confidence in their products, and strive to extend the warranty period of products.

In addition, technological progress has also made the price of household appliances cheaper.

Data from the US Department of labor show that in the past 10 years, the average retail price of US household appliances has decreased by 2.4% annually.

Therefore, sometimes even if the electrical appliances fail, consumers will prefer to buy new appliances instead of repairing them.

Who has made the new product better than the old one? In the past 10 years, the average annual income of the electrical repair industry in the United States has dropped by 5.7%.

DVD, games and video rental industry

Representative enterprises: coin star company and its red box company and dish network company.

Revenue in 2012: $5 billion 890 million

Revenue in 2017: $2 billion 800 million

With the development of technology, DVD, games and video rental industry have been hit hard.

Over the past 3 years, the average annual income of DVD, gaming and video rental industry in the United States has dropped by 6.6%.

Take DVD as an example. American consumers prefer to use streaming media, VOD and download media to watch movies. They are rarely willing to buy or rent DVD.

Even a few large factories in Hollywood are also planning for the next few years, greatly reducing the sales volume of DVD.

The inevitable result of a sharp decline in sales is the collapse of a large number of home video rental stores.

In April this year, Blockbuster, a chain giant who monopolized the US DVD, games and video rental industry, filed for bankruptcy.

IBISWorld predicts that in the next 5 years, the annual revenue of DVD, games and video rental industry will continue to decline at an annual rate of 13.8%.

Press industry

Representing Enterprises: the group of Gan ET and New York Time Co

Revenue in 2012: $29 billion 300 million

Revenue in 2017: $23 billion 700 million

With the impact of the Internet, readers are becoming more and more interested in real-time online reading, which leads to a serious decline in advertising revenue.

According to the statistics of IBISWorld, the annual income of American newspapers has declined by 6.4% over the past 10 years.

It is estimated that the average annual revenue of the press industry in the United States will drop by 4.2% in the next 5 years.

However, IBISWorld believes that the newspaper distribution industry will not disappear from the United States, and the free business model will gradually disappear.

Buffett also believes that the mode of getting free news on the Internet is unsustainable.

"Newspapers can increase sales by charging walls and charging applications."

Buffett's Boxill Hathaway company bought 63 US local newspapers for $142 million in cash in May.

Berkshire has already bought the world Herald and is also one of the major shareholders of the Washington Post.

Buffett also said he might buy more newspapers in the future.

Storage device manufacturing

Representing Enterprises: Manufacture of Xin Lei Mu and Zhu Ma Shi

Revenue in 2012: $4 billion 140 million

Revenue in 2017: $3 billion 310 million

Tapes have long been eliminated, and now they will be eliminated and hard disk and U disk storage devices.

If we want to see a recent American drama on the Internet, what will we do? In the past, we need to download the American drama to the hard disk for subsequent viewing.

But now with streaming media technology and real-time VOD technology, we can directly watch online without downloading.

Over the past 10 years, the average annual revenue of storage device manufacturers has dropped by 7.4%.

However, IBISWorld believes that because streaming media technology does not support larger capacity files like 3D movies, the storage device manufacturing industry will not disappear so quickly from our side.

IBISWorld expects that in the next 5 years, the revenue of the storage device manufacturing industry will decline at an average annual rate of 4.4%.

Accessories manufacturing industry

Representatives of enterprises: STANLEY (002588, stock bar), Black & Decker group, Asia Pacific and ingsolle Rand Co

Revenue in 2012: $7 billion 480 million

Revenue in 2017: $6 billion 630 million

Cheap imports from emerging markets have led to a contraction in the US parts industry.

Today, more than half of all metal hinges, handles, keys and locks in the US market are imported, compared with 29.3% only 10 years ago.