Industry Analysis & Industry Trends
Despite the economy's turnaround, small specialty retail stores will have a difficult time surviving. The largely discretionary nature of the products these stores sell will continue to push budget-conscious consumers to shop at external industries, such as discount department stores and online retailers. Also, sales of tobacco, once the industry's key moneymaker, will gradually decline as consumers become more aware of the health risks associated with smoking... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Small Specialty Retail Stores industry is in the decline stage of its life cycle. In the 10 years to 2018, industry value added, which measures the industry's contribution to GDP, is estimated to increase at an average annual rate of only 0.2%. This low growth is far below the US economy's projected annualized growth of 2.1% during the same period. Falling establishment numbers and contracting buyer groups are also indicative of a declining industry.
Poor industry performance is causing industry firms to decline. In the 10 years to 2018, the number of enterprises is estimated to decline at an average annual rate of 0.4%, mainly because under-performing operators exited the industry due to plummeting profitability and decreased consumer spending... purchase to read more