Retail Trade Area Analysis

But for the small business owner who launches a retail store on an adequate foundation of capital, business acumen, and attractive merchandise, involvement in the trade can be rewarding on both financial and personal fulfillment levels. Fifty-three percent of the jobs in this industry are in sales and service occupations. In wholesale trade, these workers are primarily technical sales specialists, and sales representatives. In retail trade, they’re mainly salespeople, cashiers, supervisors, or grocery clerks and shelf stockers.

The retail industry is a sector of the economy that is comprised of individuals and companies engaged in the selling of finished products to end user consumers. Multi-store retail chains in the U.S. are both publicly traded on the stock exchange and privately owned. Computing the percent of wholesale and retail trade as a percent of gross state product , rather than as a share of GDP, also provides useful insights to U.S. production. National accounts show a combined total of retail and wholesale trade, with hotels and restaurants. In 2012 the sector provides over a fifth of GDP in tourist-oriented island economies, as well as in other major countries such as Brazil, Pakistan, Russia, and Spain. In all four of the latter countries, this fraction is an increase over 1970, but there are other countries where the sector has declined since 1970, sometimes in absolute terms, where other sectors have replaced its role in the economy.

W. Woolworth and Marks & Spencer, which sold a variety of products were further examples of retailing success in the 20th cent. Department stores with purpose-built premises are said to have started with Joseph Whiteley’s in Bayswater . All cities saw the development of similar shops which met the needs of various social classes. From its beginnings, Harrods sought upper-class trade whilst others such as Marshall & Snellgrove concentrated on middle-class customers.

A bakery that produces and sells baked goods onsite is included in the food manufacturing industry. Photofinishing shops that are primarily in the business of developing pictures rather than retailing products are part of the personal & laundry services industry, and maintenance & repair shops have their own industry group. It is a 2016 overview of the U.S. retail industry and all relevant information, facts, research, data and trivia related to the U.S. retail industry. Scroll down to find the definition of the U.S. retail industry, the size of the U.S. retail industry, and the types of retailing and retailers that comprise the U.S. retail industry.

The modern era of retailing is defined as the period from the industrial revolution to the 21st century. In major cities, the department store emerged in the mid- to late 19th century, and permanently reshaped shopping habits, and redefined concepts of service and luxury. Many of the early department stores were more than just a retail emporium; rather they were venues where shoppers could spend their leisure time and be entertained.