Retail Industry
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Retail industry is second among all the US industries as far as growth is concerned. Yearly turnover of the US retail industry has been around US$4 trillion.
Retail industry in the United States of America is expected to maintain the same trend of growth in future as well. This industry provides huge employment opportunities for the Americans. The United States is home to a number of leading brands in global retain industry like Wal-Mart, Apple store, Disney store, and many more. Wal-Mart alone employs more than 1 million people in the US and nearly 400,000 across the globe.
Yearly sales turnover of retail industry in the United States is huge and it accounts for more than 12% of total trade volume of all the US based businesses. US retail industry is primarily characterized by prevalence of single-store businesses. These businesses account for nearly 95% of retailers doing business in the country. Total volume of transactions of single-store businesses is less than half of the yearly transaction of retail industry in the United States of America. Gross margin varies for different segments of the US retail industry; but generally it remains under 33% for most of the segments.
American retail industry provides more than 11% of total employment opportunities in the country. In the coming years, this sector is expected to provide more than 14% of total employment opportunities in the country. According to available data, the industry’s total sale volume in 2007 was nearly US$4,500 billion, while the corresponding figure in the 2006 that was around US$3,900 billion. At the same time, e-commerce retail sale that was around US$122 billion in 2006, contributed nearly US$131 billion in 2007. The following table presents some more data about retail industry in the US:
SegmentTotal SalesYearMotor Vehicle and Motor Parts DealersUS$901 billion2006Building Materials Dealers and OthersUS$359 billion2006Food & Beverage StoresUS$542 billion2006Gasoline StationsUS$404 billion2006Clothing & AccessoriesUS$215 billion2006General Merchandise StoresUS$552 billion2006Food Services & Drinking PlacesUS$426 billion2006Nonstore RetailersUS$270 billion2006Exports of GoodsUS$1,037 billion2006Imports of GoodsUS$1,855 billion2006Sales (Shopping Centers)US$2.25 trillion2006
