The United States leads the retail industry based on revenue numbers, with Walmart contributing front and center as both one of the largest companies in the world and the largest global retail chain.
Fortune Magazine's 2010 Global 2000 reports that out of the 10 largest retail stores in the world, half of the companies are based in the United States, with the other half in Europe.
- United States retail consumers support availablibility of environmentally friendly products, services and activism. The trend towards going green has been heavily marketed by United States retailers.
- Internet shopping and shopping via cell phones is predicted to be one of the biggest retail trends in 2011.
- A focus on saving money and conscientious consumption will continue in 2011 as a result of under-employment and high levels of unemployment.
Key Statistics – US Retail Market (source: ICD Research)
- Specialist retailers had a market share of about 42% in 2010, and general retailers had about 40% of the retail market.
- Online retailers had a compound annual growth rate of 15.8%, making them the fastest growing channel in 2010.
- Food and grocery had a market share of nearly 43%, leading the United States retail market in 2010. Apparel, accessories, and luxury goods followed food and grocery.
- About 14 million people were working in the United States retail industry as of April 2010.
Retail Market Outlook - 2015 (source: ICD Research)
- From 2010 to 2015 online retailers are expected to be the fastest-growing sales channel in the retail industry.
- General retailers had a market share of almost 39%, and specialist retailers reported market share of 41%.
- The category group that comprises music, video and entertainment software will have a CAGR of more than 6% from 2010 to 2015, making it the fastest-growing category group.
Key Players – US Retail Market
- Major Department Stores: Neiman Marcus, Kohl’s, Macy’s, Saks Fifth Avenue, Bloomingdales, Dillard’s, Sears, JC Penney, Barneys New York, Bergdorf Goodman, Nordstrom, Lord & Taylor, Von Maur
- Discount Department Stores and Warehouse Clubs: Costco Wholesale, Walmart, Walgreen, Target, Kmart, TJ Maxx, Marshalls, Sams Club
- Other leaders - CVS, Home Depot
Latest Market News – US Retail Market
- Sears reported a surprising loss in the first quarter 2011
- Home Depot plans to increase investment in technology
- Tommy Hilfiger makes new moves to attract younger customers
Upcoming Events – Retail
- US: Retail Sustainability Conference, October 12-14, 2011, Orlando, Florida; Retail Law Conference, November 7-9, 2011, Chicago, IL
- Global: The Retail Conference September 21, 2011, London, England