The retail industry provides an existing way of life for more than 24 million people who earn their living in that sector of the U.S economy. Retailers provide the goods and services that you and I need, from food, auto parts, apparel, home furnishing, and appliances, skilled labor, home improvement, small business, franchise business etc.
Retail Business Growth
Retailing is one of the fastest growing segments of the economy. As one of the nation’s largest employers, the retail industry provides excellent business opportunities for you. At least one third of the 500,000 or so new small businesses launched each year are retail operations. The small business owners behind these business projects risk their capital, invest their time and make living by offering consumers something they need or want.
According to national retail federation more than 1 million retailing companies operate more than 1.4 million retail establishments in the United States.
Internet Revolution In Retailing
Internet has changed the retail landscape, connecting small businesses, markets and individual consumers. The retailer who does not understand the impact of the internet on its store and catalog channel is likely to under invest in the internet missing opportunities to capture incremental sales in all businesses.
Online retailing makes a small business more popular. Regardless of the type of retail business you want to start, you cannot ignore the internet. Online marketing for the retail business promotion creates publicity potential and the enthusiasm that they can generate as the use of internet has grown, so has the popularity of retail business online.
Most small businesses are marketing and selling on eBay and Amazon. With SEO (search engine optimization) any small business can introduce its business and gain customers and clients. Online retail business has taken the world by storm.