Industry Analysis & Industry Trends
Because companies in the Small Specialty Retail Stores industry sell various discretionary consumer goods, they generally experienced declines in revenue as disposable income fell during the recession. Industry revenue has recovered somewhat in the past five years as consumer confidence and other key drivers improved; however, the increasing share of retail sales being conducted online has added to the external competitive pressure already exerted by large department stores. Therefore, the continued economic recovery will provide a temporary lift to industry operators, though steadily increasing competition will continue to drive stores from the industry and employment will remain largely stagnant... purchase to read more
Industry Report - Starting a New Business Chapter
The Small Specialty Retail Stores industry exhibits minimal barriers to entry, with low establishment costs and no formidable licensing requirements. However, industry competition and market awareness can pose a threat to potential new entrants. Most industry operators are small to midsize establishments that cater to a local or regional community. Therefore, there is little need to invest heavily in technological equipment, such as computerized inventory controls or point-of-sale systems.
In addition, most small specialty retailers do not have license requirements, except regarding sales of tobacco products. Even so, tobacco retail licenses are relatively easy to obtain through state governments... purchase to read more