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10 Industries Facing Decline
- 1. 10 Dying Industries AP Images/Lukas Barth Source: The 2011 IBIS List
- 2. Apparel Manufacturing Revenue Decline: 2000-2010: -77.1% 2010-2016: -8.5% (projected) AP Images/Moises Castillo Outsourcing rears its ugly head. Even American Apparel can’t seem to make it with U.S.-made products. Top 10 Dying Industries www.vault.com
- 3. Mills Revenue Decline: 2000-2010: -50.2% 2010-2016: -10.0% (projected) AP Images/Matt York Facing price pressure from wholesalers, retailers, and consumers, many companies are relocating their operations to foreign countries. Some are abandoning their U.S mills altogether. Top 10 Dying Industries www.vault.com
- 4. Video Post-Production Services Revenue Decline: 2000-2010: -24.9% 2010-2016: -8.0% (projected) AP Images/Cliff Schiappa Video itself is getting lots of play, thanks to new media; but the digital means of capturing it translate to a lot of in-house editing and archiving. Top 10 Dying Industries www.vault.com
- 5. Costume and Formal-Wear Rental Revenue Decline: 2000-2010: -35.0% 2010-2016: -14.6% (projected) AP Images/Aaron Favila Even in recession years, the trend of purchasing costumes and formal wear is still going strong: consumers see re-using the gear as a better value than renting it once. Top 10 Dying Industries www.vault.com
- 6. Newspaper Publishing Revenue Decline: 2000-2010: -35.9% 2010-2016: -18.8% (projected) AP Images/Dieter Endlicher Why wait for the morning paper? You can read the story, watch the video, and like the link on Facebook within minutes of an occurrence. It’s no surprise that news consumers have abandoned print for the web, and advertisers have followed—leaving physical papers in the dust. Top 10 Dying Industries www.vault.com
- 7. DVD, Game & Video Rental Revenue Decline: 2000-2010: -35.7% 2010-2016: -19.3% (projected) AP Images/Kiichiro Sato One word: Netflix Top 10 Dying Industries www.vault.com
- 8. Wired Telecommunications Services Revenue Decline: 2000-2010: -54.9% 2010-2016: -37.1% (projected) AP Images/Kopin Corp. The first cell phone was invented in 1984, weighed 2 pounds, and cost $3,995. Telecom has never been the same. And as smart phones take over, wired phone companies are likely on their last legs. Top 10 Dying Industries www.vault.com
- 9. Photo Finishing Services Revenue Decline: 2000-2010: -69.1% 2010-2016: -39.1% (projected) AP Images/David Duprey Remember when 1-hour photo developing was the height of convenience? Digital photography obliterated that, allowing you to reminisce seconds after taking pictures. And printing is optional. Top 10 Dying Industries www.vault.com
- 10. Record Stores Revenue Decline: 2000-2010: -76.3% 2010-2016: -39.7% (projected) AP Images/Charles Rex Arbogast Some music lovers still cling to the warm sound of vinyl. For the rest of us, there’s the iPod. Or the smart phone. As a result, downloads have largely replaced physical media, affecting production, distribution and, of course, retail. Top 10 Dying Industries www.vault.com
- 11. Manufactured Home Dealers Revenue Decline: 2000-2010: -73.7% 2010-2016: -62.0% (projected) AP Images/NatiHarnik There’s not much positive about the future of the manufactured home industry. It’s facing stagnation after decades of little meaningful product change or advancement. Top 10 Dying Industries www.vault.com