The number of self-employed individuals in the U.S. retail sector (excluding motor vehicles and motorcycles) decreased from 591,000 in 2024 to 569,000 by 2028. This marks a consistent annual decline, indicating a downward trend. In 2023, the figure was around 596,000, showing a year-on-year decrease of approximately 1%. Over five years, this translates to a compound annual growth rate (CAGR) of about -1.13%.
Future trends to monitor include:
- Impact of e-commerce growth on self-employment in retail.
- Shifts in consumer preferences and purchasing behavior.
- Emergence of new retail technologies and automation.
- Policy changes affecting self-employment and small business operations.
