Oracle Retail Trade Management

The entry of Wal-Mart into the Canadian marketplace in 1994 had a profound effect on retailers of all sizes. Some small independent stores were not able to compete, and have gone out of business. Others have found new ways to market their products, attracting customers who prefer to shop at locations that can offer more personalized service or stock products that aren’t available from the big retailers. Prior to this development, customers at grocery stores had to ask a clerk to measure out dry goods in the required quantities.

In contrast, the retail industry’s share of GDP (7%) is quite a bit lower than its share of employment (nearly 12%). Retailers of automotive products, including new & used car dealers, RV dealers, and gas stations, typically account for about a third of total sales in this industry. Supermarkets, food, liquor, and beer & wine stores usually take in about one-quarter of total retail revenues.

The post-recessionary retail industry is all about the empowered consumer, and the most successful U.S. retail chains will need to be able to deliver what consumers want or die. An estimated two-thirds of the U.S. gross domestic product comes from retail consumption. Therefore, store closings and openings are used an indicator of how well the U.S. economy is doing overall. In 2016, a significant number of store closings and bankruptcies are an indication of both shifting consumer preferences, and an unsteady economy.

Workplace TrendsThis section presents data on the number of establishments and the number of establishments experiencing job gains or job losses in retail trade. Also included in this section is information on productivity, presented as the rate of change in output per hour of workers in the industry. Earnings and HoursThis section presents data on employee earnings and weekly hours. The latest industry averages of hourly earnings and weekly hours, as well as weekly earnings by union membership status, are shown. In addition, recent hourly and annual earnings are shown for occupations commonly found in retail trade.

As the world moves towards a global economy, the U.S. retail chains large and small continue to expand their global reach by opening stores in countries throughout the world. Total annual U.S. retail sales have increased an average of 4.5% between 1993 and 2015, according to the U.S. 3 Total for transportation occupations includes supervisors of material moving workers, which could not be separated from supervisors of transportation workers. Communities are conditioned to think in terms of political boundaries because government data sources are often collected and published based on political boundaries such as city or county limits or census tracts. In reality, these boundaries have little, if any, influence on a customer’s shopping habits and if used often underestimate a community’s true retail demand or potential.