It appears the retail sector is doing just fine in the crisis, with cashed-up mothers over 30 spending up big on their children, with IBISWorld, estimating revenue for the baby products sector in the financial year grew by 3.2 percent to $3.9 billion.
Australia is in the midst of a baby boom, and with the average cost for the typical Australian family raising the first baby in terms of merchandise purchases from birth to 4 years, estimated to be around $5,393, parents are spending up big on their children.
The baby market has grown rapidly over the past decade says IBISWorld General Manager (Australia), Mr Robert Bryant.
“In fact, over the past five to 10 years, the market has seen a proliferation of hip baby boutiques and online companies supplying the middle to premium market, with celebrated fashion designers such as Collette Dinnigan and Fiona Scanlan also expanding into babywear.”
IBISWorld also believes that some women are seeing the weak employment climate as a natural career break, an ideal time to have a baby. Over the next few years, Bryant predicts the three growth areas in retail products for children will be on entertainment, development and education, with many retailers looking to further invest in branding specifically for Australian infants.
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