Industry Analysis & Industry Trends
Revenue for the Small Specialty Retail Stores industry has grown slowly over the five years to 2016. Although rising disposable incomes have lifted demand for the largely discretionary products sold by the industry, heightened competition from department stores and online retailers has tempered revenue growth and profitability. These competitors have siphoned market share from the industry by providing the convenience of one-stop shopping and low prices for comparable goods. As the industry consolidates and underperforming stores exit over the next five years, revenue growth is anticipated to pick up in line with improvements in consumer spending... 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 barrier 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 technology, 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