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 - Industry SWOT Analysis Chapter
The Small Specialty Retail Stores industry is in the decline stage of its life cycle. In the 10 years to 2019, industry value added, which measures the industry's contribution to GDP, is estimated to increase at an average annual rate of 1.2%. This low growth is far below the US economy's projected annualized growth of 2.5% during the same period. Falling establishment numbers and contracting buyer groups are also indicative of a declining industry.
Poor industry performance is causing the number of industry businesses to decline. In the 10 years to 2019, 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