In Australia, funeral is a $1 billion business, but critics say the lack of competition means customers are not getting good deals.
"I think when we have a dominant service provider, there is a lack of competition in this market, and most of the competition they face comes from small family businesses or small businesses." Sandra van der Lan (Sandra van der Laan), a scholar at the University of Sydney.
Many people may not be familiar with the name Invocare, but it is an industry giant with nearly 40 funeral agency brands, including White Lady,Guardian and Simplicity, as well as a range of local providers.
It controls about 1/3 of Australia's funeral services market and several crematoria and graves.
Dr. van der Lan told The Business,Invocare that she was nervous about her monopoly because funeral was a very special industry.
"all their consumers are vulnerable."
Dr. van der Lan said a basic funeral could cost only 1200 yuan, but people spent an average of 6000 yuan, most of them in the pocket of the funeral director.
Invocare refutes accusations of inadequate competition.
"We're actually competing at the local level, for example, someone in Sydney's North Shore doesn't go to Sutherland's funeral director, so we always have to compete with nearby service providers," said Joanne Price (Joanne Place), general manager of Invocare.
"it creates competition. We have competition in every suburb."
ACCC's on the funeral business.
But regulators at (ACCC), the Australian Competition and Consumer Council, are also worried about competition in the sector.
ACCC President Sims (Rod Sims) said: "there are a lot of areas where there is not much competition, they are areas where we need to be actively monitored, and that's what we're doing."
"the funeral industry is definitely our goal."
But for analysts, Invocare's pricing power makes it attractive.
Russell Gill (Russell Gill), executive director of JP Morgan, explained: "there are very few funerals in life, so it's a bit difficult for people to figure out the market price of funerals."
"one of the benefits of Invocare is that it actually has multiple brands, so customers may not know they are dealing with the same company."
Invocare's price disagrees and says the company has not covered up its influence. "I think we have done enough publicity to the business. We are a listed company of ASX." She told Australia and Guangzhou.
Demographic changes make funeral industry flourish
Australia's population growth is also expected to help boost the funeral industry.
The population is now projected to reach 40 million by 2030, which means more than two hundred thousand funerals a year.
"one of the benefits of the funeral services industry is that they will grow over a long period of time," Jill said.
"Invocare is one of the few profitable growth companies in the global financial crisis."
'The market has developed a way to sell funerals as packaging, 'Dr. van der Lan said.' people don't know what they're paying for.
However, Jill thinks things could change. Invocare's risk is greater market price transparency. "he said.
Online sites like Gathered Here make it easier to compare prices.
Small communities such as the Salvation Army (Salvation Army) and low-cost religious groups have entered the market, claiming to offer more choice and control.
Instead of just going to a funeral home near their home, Dr. van der Lan advises people to compare their purchases and consider their choices, because they may not know exactly what they are paying for.