Small Specialty Retail Stores in the US
Operators in the Small Specialty Retail Stores industry sell a diverse range of products, from premium cigars to grave markers. Due to its fragmented nature, the industry is not driven by product-specific trends but rather by broad macroeconomic variables. However, individual segments do respond to specific shifts in consumer preferences. Over the five years to 2018, rising income and employment have boosted demand throughout the retail sector. Despite this, small specialty stores are experiencing increasing competition from e-commerce and department stores, limiting gains from increased consumer spending. Over five years to 2023, industry revenue is forecast to slightly decline. IBISWorld anticipates consumer spending will rise while consumer confidence is expected to decrease. Consequently, increasing levels of discretionary spending focus on price over specialty. Furthermore, the industry is expected to consolidate.
Industry operators retail specialized lines of goods: kitchenware, art supplies, cigarettes and cigars, collectors’ items, fireworks and trophies. This industry also includes general merchandise auction houses (except electronic auctions), but excludes mass merchandisers, department stores, grocery stores, warehouse clubs and supercenters.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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