IBISWorld Market Research

IBISWorld Market Research

Money and career concerns pushed consumers to psychic services during the recession

Los Angeles, CA (PRWEB)

A rarity among industries, the Psychic Services industry benefited from the economic downturn. Over the five years to 2012, the Psychic Services industry grew at an average annual rate of 2.0% to an estimated $two.1 billion. With greater pressing financial and career concerns, a ascent share of consumers turned to psychic services for guidance during the recession. Consequently, industry revenue grew 3.0% and 3.5% during 2008 and 2009, respectively. In the years since, although growth has slowed, manufacture revenue growth has remained positive and is expected post gains in 2012. Slow increases in per capita dispensable income have fostered greater spending on the industry's discretionary services, says IBISWorld industry analyst Caitlin Moldvay. According to the latest information from Pew Inquiry Center, an estimated xv.0% of Americans have visited a psychic or fortune-teller for advice. This share has held almost constant over the past two decades, translating into a relatively stable client base of operations for the industry. The Psychic Services industry includes an array of operators that offer expertise in palmistry, cartomancy, mediumship, astrology, aureola readings and other metaphysical services. At that place are currently an estimated 79,991 businesses that offering expertise in these mystical practices throughout the U.s..

The Psychic Services industry has a low market share concentration. The majority of the 79,991 operators are small nonemployer firms. Market share concentration has fallen over the past 5 years considering the number of enterprises has increased, continues Moldvay. The industry faces a loftier level of contest. The manufacture'south concentration is expected to remain depression. Over the adjacent five years, the trend toward greater citywide licensing regulation is expected to continue, which will drive slow manufacture consolidation.

Over the 5 years to 2017, industry revenue is expected to grow at a muted rate. Improving economical atmospheric condition are expected to yield opposing furnishings on industry performance. While rising dispensable income volition boost average customer spending on psychic services, fewer consumers are expected to plough to psychics and fortune-tellers for fiscal matters over the adjacent five years due to failing unemployment and rising consumer sentiment. Moreover, heightened competition and increased citywide regulations will probable be introduced during the next v years, which will result in a slight industry consolidation and slow industry growth. For more information, visit IBISWorld's Psychic Services in the US industry report page.

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IBISWorld industry Report Central Topics

This manufacture includes establishments that offering psychic and fortune-telling services. Industry operators typically provide services in the areas of astrology, aura reading, mediumship, tarot bill of fare reading and palmistry, among other metaphysical services.

Industry Performance
Executive Summary
Central External Drivers
Current Operation
Manufacture Outlook
Industry Life Cycle
Products & Markets
Supply Concatenation
Products & Services
Major Markets
Globalization & Trade
Business organization Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Information
Annual Alter
Key Ratios

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