RETAIL: CONSUMER ELECTRONICS · PDF fileU.S. INDUSTRY REPORTS ... 44313 Camera and...
54
RETAIL: CONSUMER ELECTRONICS U.S. Industry Report 2017 - NAICS 443 -
Transcript of RETAIL: CONSUMER ELECTRONICS · PDF fileU.S. INDUSTRY REPORTS ... 44313 Camera and...
RETAIL: CONSUMER ELECTRONICS
U.S. Industry Report 2017
- NAICS 443 -
Note: Content may vary between reports 2
U.S. INDUSTRY REPORTS
43 INDUSTRIES OVERVIEW & INSIGHTS
COMPANIES
FINANCIAL NUMBERS
INNOVATION & RESEARCH
CLEAR STRUCTURE & METHODOLOGY
EMPLOYEES & SALARIES
REGULAR UPDATES & DIFFERENT COUNTRIES
Banking & Finance
Fashion & Textiles
Utilities Telecommunications
Automotive Industry
Food & Beverages
Transportation
Real Estate Management summary
Opportunities Weaknesses
Key figures at a glance
Most recent available data More countries, e.g. UK, Germany
Ongoing expansion of coverage Screening of all relevant sources
Shipments
GDP development
Digital opportunities
Imports & exports
Value added
Development
Selected key players
Segment comparison
Establishment births & deaths
Number of firms & establishment
Number of employees
Number of degrees
Annual mean wage
Average weekly hours
Unemployment rates R&D intensity & spend
Funding source Domestic R&D employment by gender
Detailed definitions
List of sources
Description of forecast methods
Manufacturing Health Care
Retail Construction Car Dealers
Education
Restaraunts & Nightlife
Insurance
Drugstores Strengths Threats
Trends
Quotes on industry development
Consumer & business insights Industry definition
Revenues
Forecasts
Industry benchmarks
Segment comparison
Distribution by state
Gender split
Surveys
Index of figures
Standardized agenda
All Statista services
› More than 1 million statistics on 80,000 topics from 18,000 sources
› 43 U.S. industry reports (worth $425.00 per industry report if purchased individually)
› All 41 UK industry reports (worth $425.00 per industry report if purchased individually)
› Approx. 3,000 Statista dossiers (worth $325.00 per dossier if purchased individually)
› Studies database with approx. 20,000 third party studies and source database
Exclusive Statista corporate account content
› Digital Market Outlook Revenue data and forecasts on 9 digital markets in 50 countries with 85 sub-segments
› Consumer Market Outlook Main KPIs and forecasts on 17 consumer markets in up to 40 countries with 155 product categories
3
Benefits of the Corporate Account Your contact
Statista Corporate Account Access to all Industry Reports and much more
Manuel Moerbach Chief Marketing Officer & Managing Director
AGENDA
02 FINANCIAL NUMBERS
03 COMPANIES
04 EMPLOYEES & SALARIES
05 APPENDIX
01 INTRODUCTION
Industries in subsector 443 retail new electronics and appliances from point-of-sale locations.
Establishments in this subsector often operate from locations that have special provisions for floor displays requiring special electrical capacity to accommodate the proper demonstration of the products.
The staff includes sales personnel knowledgeable in the characteristics and warranties of the line of goods retailed and may also include trained repair persons to handle the maintenance and repair of the electronic equipment and appliances.
The classifications within this subsector are made principally on the type of product and knowledge required to operate each type of store.
5
Retail: Consumer Electronics – NAICS 443 Subcategories included in this report
Industry definition Based on the North American Industry Classification System (NAICS)
NAICS Subcategory
44311 Appliance, Television, and Other Electronics Stores
44312 Computer and Software Stores
44313 Camera and Photographic Supplies Stores
Introduction
6
Management Summary Retail: Consumer Electronics
› Market dynamics in this area tend to favor monopolistic or oligopolistic market structures with only few big players covering a broad range of products and allowing transparent comparison of product features, reviews and prices.
› E-Commerce is an opportunity and threat for traditional retail chains: a forecast by Statista's Digital Market Outlook predicts online revenues to grow by 12% annually from US$56 billion in 2016 to US$98 billion in 2021.
› The industry realized sales of US$97.6 billion in 2016, a growth of 1.0% compared to 2015.
› We forecast the annual compound growth rate of sales from 2016 to 2021 to be at 0.5%.
› Radio, TV, and other elect. stores is the biggest subcategory accounting for 55.6% of the industry's sales.
› 25,471 firms were active in the industry in 2014, a decline of 0.7% compared to 2013.
› Employment numbers have decreased by 0.1% from 2015 to 2016 resulting in 522 thousand employees earning an average wage of US$36.6 thousand in that year.
Ksenia Striapunina studied Finance in Hamburg and Engineering Management in Russia. Volker Staffa studied Business with focus on Logistics and Supply Chain Management in Hamburg and Rhode Island.
Combined they have 8,5 years of experience as analysts.
Volker has been writing Industry Reports for Statista since 2012, while Ksenia joined Statista last year after several years in consulting.
We wish you a valuable and insightful reading experience.
Volker Staffa Ksenia Striapunina
Analyst Analyst
Introduction
7 1: Compound annual growth rate; 2: 2014 data
Key figures at a glance Retail: Consumer Electronics in 2016
Sales
Companies
People
Number of firms2
Total value
Growth 2015 – 2016
CAGR1 forecast 2016 – 2021
Selected key players in the industry
Introduction
People employed Annual mean wage
521.9 thousand US$36.6 thousand
+1.0% US$97.6 bn +0.5%
25,471
Strengths Weaknesses Opportunities Threats
SWOT ANALYSIS
8
› Rapid inventory price decline: prices drop quickly after product launch as product lifespans are mostly short and consumers prefer products that are of latest design and technology
› Most electronics and appliance stores do not expand outside the U.S. thereby missing the revenues from new and emerging markets
› High-speed technological change leads store management to expend financial resources on technology, education and store updates
› Proximity beats shipment: despite buyers are now used to purchasing electronic products and appliances online, proximity and product presence are still highly appreciated by consumers
› Service quality: sales staff in many electronics and appliance stores has an excellent product expertise so that costumers enjoy the benefits of high service quality
› Large electronics and appliance retailers have strongly invested in marketing & advertising infrastructure that pays off
› Internet only retailers will continuously exert price pressure on traditional electronics and appliance stores as more and more customers shop online
› Large big box stores featuring electronics and appliance departments, such as Wal-Mart and Costco, continue to threaten the growth of specialized electronics and appliance stores
› Store revenues are highly exposed to changing technologies and their social implications, e.g. stores have suffered from the declining demand of CDs and DVDs as online media consumption rose
› Sales are rising as the economy recovers, fostering demand from buyers who had delayed electronics and appliance purchases in recent years
› Innovative and exciting store concepts could be a way for many market players to differentiate themselves and to make their stores worth visiting
› The increasing implementation of (in-store) data analytics bears potential for electronic retailers to better tailor their product offers and campaigns to individual consumer types
Electronics and appliance stores
Introduction
SWOT Analysis
9 Source: Euromonitor; Amazon; Seeking Alpha
Chief executive quotes on the industry development
Consumer electronics in the U.S.: a highly competitive market with negative growth
High saturation and weak demand are holding back the electronics market
The Internet facilitates competitive entry and comparison shopping, and increased competition may reduce our sales and profits.
- Amazon Annual Report 2015
Introduction
We are very focused on the digital experience for a couple of reasons, one is, the e-commerce channel is growing and two, it’s impacting the entire business.
- Hubert Joly, CEO Best Buy
› Consumer electronics retail is a market in which traditional retailers are struggling to compete against online retailers for about a decade
› Total retail sales of consumer electronics via all channels fell by 3% in 2016, a decline for the fourth consecutive year, as consumer demand was weak in all traditional categories, such as smartphones, TVs and computers
› Since the Internet is providing high transparency to customers, the price competition is critical and a vast majority of players in the electronics market operate with very weak margins
› The competitors in the market are primarily multi-channel retailers (e.g. Best Buy), internet-based retailers (e.g. Amazon), technology service providers (e.g. Microsoft), traditional store based retailers and mobile network operators, selling their products and services directly to customers (e.g. AT&T)
10 Source: Statista Survey among English speaking residential US population (N = 1,027), 2017
How often do you buy electronics online? Would you consider making all your electronics shopping exclusively online?
Most consumers are familiar with buying electronics online
Introduction
by gender
always 6%
occasionally
22% very frequently
31%
very rarely
14% rarely
10%
don’t buy this item
13% never
4%
3% 11%
40% 46%
14%
51%
3%
32%
Reading aid: 6% of respondents say they always buy electronics
online, 22% shop at online retailers very frequently and only
13% never shopped for electronics online.
Reading aid: The survey revealed that 46% of male
respondents say they would consider shopping for consumer
electronics online only, while only 32% female respondents
would do so.
no don’t know don’t buy this item yes
11
1: in % of N respondents that consider buying a new device: N = 656, respondents that consider buying a new desktop computer, N = 785, respondents that consider buying a new laptop, N = 677, respondents that consider buying a new tablet, N = 779, respondents that consider buying a new smartphone; 2: N = 1,027 Source: Statista Survey among English speaking residential US population (N = 1,027), 2017
How often do you generally buy the following items1?
What is your main reason to buy the following items2?
11% of U.S. consumers buy a new smartphone each year and 40% every second year
Introduction
16%
12%
24% 26%
26%
8% 7%
7% 25%
19% 34% tablet 8%
35% laptop
smartphone 24% 28%
7% 6% 36% 23% desktop computer 28%
my current device is broken
the newest model has been released don’t own one yet
my current device is out of date
don’t plan on buying one
11%
24%
9% 40%
14%
32% 3%
9% 28%
32% 18% tablet 5%
6%
9% laptop
smartphone
8%
6% 40%
4% 38%
6%
8% 10% 32% desktop computer 8%
every 2 years
every year
less than every 5 years don’t know
every 3 -5 years never
Laptop
12 1: in % of N respondents that consider buying a new device: N = 785, respondents that consider buying a new laptop, N = 677, respondents that consider buying a new tablet, N = 779, respondents that consider buying a new smartphone Source: Statista Survey among English speaking residential US population (N = 1,027), 2017
Smartphone Tablet
Price, battery life and screen size are most important decision factors for the new devices What is important to you when you buy a new device1?
screen size
battery life
45%
43%
reviews
36%
brand
23%
design
20%
customer service
19%
newest model
15%
image
5%
material
4%
exclusivity
3%
don’t know
Other
57%
61%
price 76%
58%
screen size 54%
reviews 37%
brand 36%
design 29%
customer service 16%
newest model 18%
image 20%
material 13%
exclusivity 3%
don’t know 13%
Other 1%
price 64%
battery life
Other
price 74%
battery life 69%
screen size 53%
reviews 39%
brand 43%
design 36%
customer service 25%
newest model 20%
image 20%
material 13%
exclusivity 5%
don’t know 4%
3%
Introduction
Explore the Statista US consumer surveys at statista.com
13 Source: Statista
Made-In-Country-Index Product attributes
Top marks for technology, quality, status and design carry the USA to Rank 8 Country profile: USA
Rank Country Index
1 Germany 100
2 Switzerland 98
3 European Union 92
4 United Kingdom 91
5 Sweden 90
6 Canada 85
7 Italy 84
8 USA 81
8 France 81
8 Japan 81
0%
20%
40%
60%
High quality
High safety
standards
Very good
price-
performance
Uniqueness
Excellent
design
Advanced
technology
Authenticity
Sustainability
Fair
production
Status symbol
United States-Score Average Max
Reading support: In total the USA finishes Rank 8 with a Made-In-Country-Index Score of 81.
Reading support: The chart shows the respondents‘ answers to the question 'Which properties do you associate with products from…?“ For example, 33 % of respondents associate “High quality“ with products from the USA.
Introduction
14 Source: Statista
Summary
U.S. products – top reputation throughout the Americas Country profile: USA
› With an Index Score of 81, “Made in USA“ ranks 8th worldwide, sharing this position with “Made in France“ and “Made in Japan“
› For most features, products from the U.S. enjoy a reputation substantially above average.
› Top marks for Quality, Advanced Technology and Design.
› Products from the U.S. are very strongly considered as status symbols.
› “Made in USA“ ranks first in the U.S., but also in seven more countries
› In 12 countries, adding to this, products from the USA rank 2nd and 3rd place.
Country Rank
Argentina 1
Brazil 1
Chile 1
Colombia 1
India 1
Philippines 1
USA 1
Venezuela 1
Egypt 2
Mexico 2
More data and information at statista.com
Introduction
Top 10: in these countries “Made in USA“ is the strongest
AGENDA
03 COMPANIES
04 EMPLOYEES & SALARIES
05 APPENDIX
01 INTRODUCTION
02 FINANCIAL NUMBERS
Statista forecast
1: Sales include merchandise sold by establishments primarily engaged in retail trade. The sales are net, after deductions, of refunds and allowances for merchandise returned by customers; 2: Compound annual growth rate Source: U.S. Census Bureau (Monthly Retail Trade and Food Services), International Monetary Fund, Statista
Sales1 over time in billion US$
Sales growth by 1.0% in 2017; positive average growth of 0.5% till 2021 expected
16
Financial Numbers
+0.5%2 +0.3%2
2021
100.0
2020
99.5
2019
99.3
2018
99.0
2017
98.6
2016
97.6
2015
102.1
2014
103.5
2013
103.0
2012
102.1
2011
99.9
2010
97.4
2009
95.4
In 2016, sales were US$97.6 billion. For 2017, we forecast sales to total US$98.6 billion. Compared to the previous year, this is an
increase of 1.0%.
For the 2016 to 2021 period, we expect sales to increase by an annual average of 0.5%. In comparison, the CAGR from 2009 to 2016
was 0.3%.
17 Source: U.S. Census Bureau (Monthly Retail Trade Survey, Annual Retail Trade Survey)
Electronics and appliance stores are #12 in value ranking of retail and food industries Sales in 2016 of retail and food services industries in billion US$
Financial Numbers
# NAICS Industry Sales 2016
Growth 2015/2016
1 441 Motor vehicle and parts dealers
1,140.1 +4.1%
2 445 Food and beverage stores 701.6 +2.3%
3 452 General merchandise stores
675.8 +0.1%
4 722 Food services and drinking places
660.1 +5.9%
5 454 Nonstore retailers 566.0 +11.1%
6 447 Gasoline stations 418.7 -5.7%
7 444 Building material and garden equipment and supplies dealers
350.5 +5.7%
# NAICS Industry Sales 2016
Growth 2015/2016
8 446 Health and personal care stores
329.2 +4.4%
9 448 Clothing and clothing accessories stores
258.4 +1.0%
10 453 Miscellaneous store retailers
125.9 +5.4%
11 442 Furniture and home furnishings stores
110.5 +3.5%
12 443 Electronics and appliance stores
97.6 -4.4%
13 451 Sporting goods, hobby, book, and music stores
88.5 +1.3%
Source: U.S. Census Bureau (Annual Retail Trade Survey; Monthly Retail Trade Survey)
Sales by subcategory in 2016 in billion US$
With $54.3bn, radio, TV, and other elect. stores accounts for 55.6% of the industry sales
18
Financial Numbers
Total
97.6 (100.0%)
Household appliance stores
16.6 (17.0%)
26.8 (27.4%)
Radio, tv, and other elect. stores
54.3 (55.6%)
Computer and software stores
-4.4% -3.3% -9.3% -2.2%
Growth 2015/2016
Source: U.S. Census Bureau (Annual Retail Trade Survey; Monthly Retail Trade Survey)
Most over- and under-performing subcategories
All categories show a downward trend
19
Financial Numbers
-10
-8
-6
-4
-2
0
2
4
6
8
10
12
14
2015-2016 2014-2015 2013-2014 2012-2013 2011-2012 2010-2011
Computer and software stores
Radio, tv, and other elect. stores
Household appliance stores
Electronics and appliance stores
20 1: Gross domestic product in current dollars; 2: Each industry's labor and capital added to its gross output and to the overall GDP of the United States; equals industry’s gross output minus its intermediate inputs Source: Bureau of Economic Analysis; International Monetary Fund, Statista
Development of GDP1 and contribution by sector2 in billion US$
Retail trade contributed 5.9% to the GDP in 2015
Financial Numbers
+7.6% +8.1%
2015
18,037 +7.6%
-0.4%
2011
15,518
2013
16,692
2009
14,419
2007
14,478
Health care and social assistance - 7.2%
Arts, entertainment, and recreation - 1.0%
Government - 13.0%
Accommodation and food services - 2.9%
Other services, except government - 2.2%
Agriculture, forestry, fishing, and hunting - 1.0% Transportation and warehousing - 3.0%
Retail trade - 5.9%
Wholesale trade - 6.1%
Educational services - 1.1%
Administrative and waste management services - 3.1%
Management of companies and enterprises - 2.0%
Professional, scientific, and technical services - 7.2%
Real estate and rental and leasing - 13.1% Construction - 4.1%
Utilities - 1.6%
Mining - 1.8%
Manufacturing - 12.0%
Information - 4.7%
Finance and insurance - 7.2%
2017
21,105
2019
22,767
2021
+8.9% +7.9%
19,377
GDP forecast
+7.4%
Share of GDP by sector in 2015
NAICS Code 44-45 Data
21 1: Gross domestic product In current dollars; 2: Each industry's labor and capital added to its gross output and to the overall GDP of the United States; equals industry’s gross output minus its intermediate input; 3: Data is referring to NAICS Code 44-45 (Retail trade) Source: Bureau of Economic Analysis
Growth rate of GDP1 and growth rate of value added2 by sector3
Value added by the sector grew by 5.3% in 2015 while the GDP grew by 3.7%
2010-2011
3.7%
2.6%
2011-2012
4.1%
4.6%
2012-2013
3.3%
3.9%
2013-2014
4.2%
3.6%
2014-2015
3.7%
5.3%
Retail trade sector
GDP
Financial Numbers
NAICS Code 44-45 Data
1: Each industry's labor and capital added to its gross output and to the overall GDP of the United States; equals industry’s gross output minus its intermediate inputs; 2: Data is referring to NAICS Code 44-45 (Retail trade) Source: Bureau of Economic Analysis
Top 10 states regarding value added1,2 in 2014 in billion US$
California, Texas and New York had the largest value added in 2015
22
Financial Numbers
Total
68.6 (6.5%)
Washington Florida Illinois
33.9 (3.2%) 36.2
(3.4%)
New York
96.4 (9.1%)
Texas
36.5 (3.5%)
Pennsyl- vania
70.1 (6.6%)
Other 41 states
39.9 (3.8%)
30.6 (2.9%)
Ohio California
141.4 (13.4%)
Georgia New Jersey
470.1 (44.5%)
1,056.8
33.2 (3.1%)
NAICS Code 44-45 Data
Online consumer electronics account for US$55.9bn revenues in 2016, making the U.S. one of the largest online electronics and media market in the world:
› The online consumer electronics market is expected to grow by 11.8% annually1 from 2016 to 2021, reaching a total size of almost US$100bn in 2021
› Revenue per user is expected to grow from US$412 in 2016 to US$545 in 2021
Market dynamics in this area tend to favor monopolistic or oligopolistic market structures with only few big players covering a broad range of products and allowing transparent comparison of product features, reviews and prices. Amazon can therefore be emphasized as a key player. Multichannel retails chains like Best Buy are main competitors, but online pure players typically have significant cost benefits as they economize on countrywide big box stores.
Large product categories like smartphones and tablets are already saturating. Virtual/ augmented reality devices have a substantial growth potential and wearables are expected to form new categories within consumer electronics.
23 1: Compound annual growth rate Source: Statista Digital Market Outlook, September 2016
Wearables and augmented reality devices drive the consumer electronics market
Revenues in consumer electronics grow due to increasing customer spending
Online consumer electronics: mature market forecasted to grow by 12% annually till 2021 Physical media replaced by digital alternatives
Revenue forecast in billion US$
Revenue per user in US$
71.8
2017 2018
62.8 55.9
2016 2019
97.6
2020
81.8 91.2
2021
12%
2018 2021 2019 2017 2020 2016
530 502
545
468
435 412
1
Financial Numbers
24 Source: Statista Digital Market Outlook
With a US$55.9bn revenue in 2016, the U.S. are second in Consumer Electronics online sales Global comparison: Markets ranked by revenue in 2016 in US$ million
More data and information on digital markets: Statista Digital Market Outlook
# Top countries Market size 2016
Market size 2021
1
2
3
4
5
6
7
8
9
10
3
2
4 5
6
7
9 10
1
8
4,993.6
6,578.8
17,364.2
5,736.8
6,193.4
18,277.8
142,086.0
23,635.4
8,496.3
97,568.1
China
Japan
United Kingdom
Germany
France
Canada
United States
Brazil
India
South Korea
55,850.4
4,536.7
4,079.0
12,983.3
64,762.3
16,042.1
13,215.6
3,082.2
3,217.5
3,441.4
Financial Numbers
Availability Background
Analyst opinion Facts
25 Source: Company information 2016, Statista Digital Market Outlook
› Best Buy is a US-based retail chain for consumer electronics and physical media products
› After an unsuccessful expansion to Europe in the early 2010s and growing competition from online pure-players like Amazon, the company had to restructure
› Best Buy is a typical example for a retail giant facing the aggressively growing competition from online-only retailers
› Best Buy focuses on high service levels as the company’s cost structure is barely competitive to online players
› Best Buy is now focused on developing its online business, and domestic online sales have increased by 21% in 2016, while Best Buy's overall sales decreased slightly
› Best Buy faces the challenge of transformation from a retail only giant to an – ideally – cross-channel merchant, who is able to compete with online giant Amazon in the space of consumer electronics and media products
› The major problem of multichannel retailers in this area is to keep prices on a competitive level and develop an appropriate online strategy, while operating nationwide big box stores with thousands of employees
Best Buy: domestic online sales have increased by 21% in 2016 Company profile
Employees: 125,000
Year founded: 1983
Revenue: US$39.5 billion
Retail stores in: 3 countries
# of retail stores: 4100
HQ: Richfield, Minnesota (U.S.)
Financial Numbers
AGENDA
02 FINANCIAL NUMBERS
04 EMPLOYEES & SALARIES
05 APPENDIX
01 INTRODUCTION
03 COMPANIES
Profit Before Tax in US$ million
Market Capitalization in US$ million
Number of Employees
Exchange/ Listing ID
Revenue in US$ million
27 Note: All data is FY 2016 if not stated otherwise Source: Company information; Morningstar; Google Finance
Amazon.com, Inc. Wal-mart Stores, Inc. Best Buy Co., Inc.
Selected key players in the industry
NYSE:WMT
2,300,000
212,419
20,497
485,873
NYSE:BBY
125,000
13,391
1,816
39,403
3,892
135,987
NASDAQ:AMZN
341,400
356,313
Companies
28 Source: U.S. Census Bureau
The number of establishments decreased in 2014
2014
46,760
25,471
2013
47,998
25,659
2012
49,684
26,090
2011
49,068
27,074
2010
27,988
48,305
27,210
2009
48,489
27,238
2008
49,173
Establishments Firms
Companies
A firm is defined as that part of an enterprise tabulated within a particular industry. It consists of one or more domestic establishments in the same industry that were specified under common ownership or control. An establishment is a single physical location where business is conducted or where services or industrial operations are performed.
1.87 1.84 1.90 1.81 1.78 1.78 1.76
Average number of establishments per firm
Total number of firms and establishments with paid employees over time
2.00
1.29
29 1: With paid employees; 2: See previous slide for definition of firms and establishments Source: U.S. Census Bureau
Total number of firms1 and establishments2 by subcategory 2014
Most firms in the industry are in electronics stores
Companies
Average number of establishments per firm
Electronics stores
Household appliance stores
5,997
19,486
38,998
7,762
Firms Establishments
30 1: Single physical location where business is conducted or where services or industrial operations are performed; 2: Retail trade Source: U.S. Census Bureau
Number of establishments1 with paid employees per state in 2014
Establishments can be found countrywide with focus on the East
Companies
Hawaii 4,639
Alaska 2,496
Washington 21,586
Oregon 13,994
California 107,469
Montana 4,757
Idaho 5,818
Nevada 8,512 Utah
9,224
Arizona 17,944
New Mexico 6,557
Colorado 18,643
Wyoming 2,610
N. Dakota 3,242
S. Dakota 3,866
Nebraska 7,240
Kansas 10,391
Oklahoma 13,237
Arkansas 10,866
Missouri 21,228
Iowa 11,828
Minnesota 18,993
Wisconsin 19,143
Illinois 39,252
Miss. 11,555 Alabama
18,029
Georgia 33,666
Florida 73,200
S. Carolina 17,567
N. Carolina 34,246
Tennessee 22,533
Kentucky 15,223
Virginia 27,059
W. Virg. 6,214
Ohio 36,260
Indi- ana
21,431
Michigan 34,686
Pennsylvania 43,598
Maryland 18,171
New Jersey 31,685
New York
78,763
Maine 6,304
New Hampshire 6,044
Massachusetts 24,136
Rhode Island 3,744
Connecticut 12,542
District of Columbia 1,740
Vermont 3,400
Delaware 3,627
Texas 79,814
Loui-siana 16,596
1 to 9,999
10,000 to 29,999
30,000 to 69,999
More than 69,999
Total Number of Establishments:
1,065,368
Data is for NAICS code 44-452
NAICS Code 44-45 Data
31 1: Zero employment in the first quarter of the initial year and positive employment in the first quarter of the subsequent year; covers establishments with paid employees; 2: Business organization consisting of one or more domestic establishments that were specified under common ownership or control Source: U.S. Census Bureau
Number of establishment births1
Share of establishment births1 by enterprise2 size in 2013/2014
Most of the new establishments were founded by enterprises with 1 to 99 employees
2013-2014
3,981
2012-2013
4,360
2011-2012
5,760
2010-2011
6,159
2009-2010
5,171 -8.7%
Companies
5.9%
13.2%
80.9%
100 to 499
More than 499
1 to 99
Enterprise size by number of employees:
Reading Aid: of the new establishments were founded
by enterprises with an employment size between 1 and 99.
The enterprise size classification is determined by the summed
employment of all associated establishments.
Establishment births in 2013/2014 increased
the number of employees by
80.9%
19,138.
32 1: Positive employment in the first quarter of the initial year and zero employment in the first quarter of the subsequent year; covers establishments with paid employees; 2: Decreased employment during the time period between the first quarter of 2013 and the first quarter of 2014 Source: U.S. Census Bureau
Number of establishment deaths1
Employment losses due to establishment deaths1
The number of establishment deaths increased by 3% in the last year
+3.0%
2013-2014
5,008
2012-2013
4,861
2011-2012
5,412
2010-2011
4,373
2009-2010
6,518
-19.2%
2013-2014
19,381
2012-2013
23,972
2011-2012
26,261
2010-2011
19,058
2009-2010
67,686
In addition to deaths 10,658 establishments decreased their number of employees by a total of 32,230 in 2013/2014.2
Companies
AGENDA
02 FINANCIAL NUMBERS
03 COMPANIES
05 APPENDIX
01 INTRODUCTION
04 EMPLOYEES & SALARIES
34
The number of employees decreased in 2016
2014
497.2
2013
496.7
2012
522.3
2016
521.9
-1.2%3
2015 2007
582.5
507.4
2011
527.4
2010
522.3
2009
515.7
2008
569.6
Employees & Salaries
Total number of employees1 over time2 in thousands
66.5% 66.2% 65.9% 66.7% 67.2% 70.5% 68.1% 69.8% 68.8% 67.4%
Gender split
29.5% 30.2% 31.2% 31.9% 32.6% 32.8% 33.3% 34.1% 33.8% 33.5%
1: Average of non-seasonally adjusted monthly values, includes the total number of persons on establishment payrolls employed full- or part-time who received pay for any part of the pay period that includes the 12th day of a month; 2: Data is referring to NAICS 2012 classification; 3: Compound annual growth rate Source: U.S. Bureau of Labor Statistics
35
With 11%, the Retail Trade sector has the 3rd highest share of employees
Employees & Salaries
Share of employees1,2 by sector in 2016
1: Average of non-seasonally adjusted monthly values, includes the total number of persons on establishment payrolls employed full- or part-time who received pay for any part of the pay period that includes the 12th day of a month; 2: Data is referring to NAICS 2012 classification; 3: Quarrying, and Oil and Gas Extraction; 4: And Remediation Services; 5: And Enterprises; Source: U.S. Bureau of Labor Statistics
Government 15.4%
Health Care & Social Assistance
13.2%
Retail Trade 11.0%
Manufacturing 8.6%
Administrative & Support & Waste
Management4
6.3%
Professional, Scientific, &
Technical Services 6.2%
Construction 4.7%
Wholesale Trade 4.1%
Transportation & Warehousing
3.5%
Educational Services, 2.5%
Mgmt of Companies5
1.6%
Arts, Enter-tain., & Rec.,
1.5%
Real Est. & Rental &
Leasing, 1.5%
Utilities, 0.4%
Mining3, 0.4%
Information 1.9%
Finance & Insurance
4.3%
Other Services
3.9%
Accomodation & Food Services
9.3%
1: Data is based on Census Industry classification (derived from NAICS 2007 classification); 2: Covers the civilian non-institutional population of those 16 years and older Source: U.S. Bureau of Labor Statistics
Unemployment rates over time1,2 by percentage
Development in the number of unemployed1,2 in thousands
Unemployment rates in the industry are higher than the national rates
2013 2014 2015
Retail trade (NAICS 44-45)
Total
National unemployment rates (all industries)
Total
880
999
-11.9%
2016 2015
-6.6%
2016
7,751
2015
8,296
Retail trade (NAICS 44-45) National unemployment (all industries)
5.3% 5.9% 6.5%
4.9% 5.5% 5.9%
5.7% 6.4% 7.1%
4.9% 5.3% 6.2%
4.9% 5.4% 6.3%
4.8% 5.2% 6.1%
Employees & Salaries
36
Compared to the National unemployment, the “Retail trade”
sector performed better with unemployment decreasing by
11.9%. Whereas the overall national unemployment went down
by only 6.6%, totaling 7,751k unemployed persons in 2016.
NAICS Code 44-45 Data
37 1: Covers all full-time and part-time wage and salary workers; 2: Data is referring to NAICS 2007 classification (2009 - 2011) and NAICS 2012 classification (2012 – 2016) Source: U.S. Bureau of Labor Statistics
Annual mean wage1 over time2 in thousand US$
The annual mean wage increased by six hundred US$ in 2016
35.3
2016 2015
36.2
2014
36.9
2013
36.3
2012
36.2
2011
35.8
2010
36.0
2009
36.6
Employees & Salaries
Annual wages have been calculated by multiplying the “hourly mean wage” by 2,080 hours. They include base rate, cost-of-living allowances, guaranteed pay, hazardous-duty pay, incentive pay, including commissions and production bonuses, and tips. Excluded from the wage data are back pay, jury duty pay, overtime pay, severance pay, shift differentials, nonproduction bonuses, and tuition reimbursements.
38 1: Data is referring to NAICS 2012 classification; covers all full-time and part-time wage and salary workers Source: U.S. Bureau of Labor Statistics
First-line supervisors of non-retail sales workers earn the highest wages in the industry
Employees & Salaries
3.2%
3.1%
3.0%
2.8%
2.4%
1.6%
Retail Salespersons
First-Line Supervisors of Retail Sales Workers
First-Line Supervisors of Non-Retail Sales Workers
Electronic Home Entertainment Equipment Installers and Repairers
Stock Clerks and Order Fillers
5.9%
43.1%
Computer, Automated Teller, and Office Machine Repairers
Cashiers
Home Appliance Repairers
Sales Representatives, Services, All Other
4.1%
14.2%
Customer Service Representatives
Difference to industry mean wage in 20161
Occupations with the highest industry employment in 20161
Annual mean wage in 20161
by percent of total industry employment in thousand US$ in percentage
14%
-20%
31%
-5%
-14%
-33%
62%
-39%
4%
7%
38.0
24.6
48.1
31.5
22.3
34.8
29.1
59.2
41.8
39.0
39 1: Of full-time wage and salary workers; 2: Ratio between wage of women and wage of men Source: U.S. Bureau of Labor Statistics
Median weekly earnings1 by occupation and sex in 2016
Employees & Salaries
-29.6%
US$514
US$730
US$623
Retail salespersons
-26.5%
US$630
US$857
US$743
First-line supervisors of retail sales workers
-7.8%
US$623
US$676
US$640
Customer service representatives
-31.3%
US$826
US$1,202
US$1,040
Sales representatives, services, all other
Total
Gender difference2
Female employees among all occupation groups earn less than male employees
40
Working hours in the industry are above the sector level level
Employees & Salaries
Average weekly hours of all payroll employees1
1: Data is referring to NAICS 2012 classification Source: U.S. Bureau of Labor Statistics
2008 2009 2010 2011 2012 2013 2014 2015 2016
31.4
34.3
34.1
34.6
31.3
34.5
35.5
31.0
36.3
31.4 31.3
34.5
36.2
36.8
34.5
31.4
34.4
31.7
33.6
31.3
33.8
35.6
34.4 34.3
31.6
35.2
33.4
Total private industry
Retail trade sector
Electronics and appliance stores
41 1: Conferred by postsecondary institutions; 2: Data is referring to the 2013/2014 school year; 3: Data is referring to the 2014/2015 school year; 4: Includes Ph.D., Ed.D., and comparable degrees at the doctoral level. Includes most degrees formerly classified as first-professional, such as M.D., D.D.S., and law degrees Source: National Center for Education Statistics
Number of degrees in “Business, management and marketing”1
Degrees in “Business, management and marketing”1 in 2015 by sex
Over 550,500 degrees in “Business, manage-ment and marketing” awarded in 2015
20153
3,116
185,188
362,397
20142
3,039
189,284
356,747
Doctorates4 Masters Bachelors
It should be noted that the degree holders in the above
mentioned field of study do not necessarily work in the industry.
Total
Bachelors
Masters
Doctorates4
In addition to the presented degrees, 113,670 associate degrees
in the field of study “Business, management, marketing, and
support services” were conferred in 20153.
47.4% 52.6% 362,397
46.8% 53.2% 185,188
44.9% 55.1% 3,116
Employees & Salaries
AGENDA
02 FINANCIAL NUMBERS
03 COMPANIES
04 EMPLOYEES & SALARIES
01 INTRODUCTION
05 APPENDIX
43
Data Sources The Statista industry reports package and present quantitative data from many private and public sources of information. These sources include the U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, National Center for Education Statistics, National Science Foundation, and U.S. Patent and Trademark Office. The data sources are indicated in footnotes throughout the report. NAICS-Classification The North American Industry Classification System (NAICS) was introduced by the statistical bureaus of Mexico, Canada, and the United States in 1997 to replace the Standard Industrial Classification (SIC) system. It is designed to align with the United Nations Statistical Office's International Standard Industrial Classification (ISIC) system. The initial two digits indicate the largest sector. The third digit indicates the subsector, while the fourth digit indicates the industry group. The classification system is modified every five years with the last three changes occurring in the years 2002, 2007, and 2012. Unless otherwise noted, the majority of the data in the Statista industry reports is based on the NAICS 2007 classification. Detailed information about the different classifications can be found on the homepage of the U.S. Census Bureau: http://www.census.gov/cgi-bin/sssd/naics/naicsrch?chart=2007. Forecasts and estimates Certain diagrams within this industry report include estimates or forecasted values for the years of 2016 to 2020. These estimated values and projections are indicated. Data Indicator
Classification and data used in this report
NAICS Code XXX Data
Appendix
44
An Annotation of the forecast methods
Appendix
Depending upon the availability of data and the quality of the data’s time range, the following methods were used to prepare forecasts: Trend Analysis (moving average analysis, second-order statistical smoothing and multiplier analysis), linear regressions, as well as subjective estimates. These estimates reflect years of industry expertise and vast knowledge. Industry specific sales, revenue, and shipment calculations were made according to the relevant economic and business indicators, such as: › The general macro-economic developments within the U.S.
economy (Gross Domestic Product)
› U.S. foreign trade developments (import and export numbers)
› The development of U.S. household disposable income numbers
› The development of U.S. domestic household consumption differentiated according to expenditures (such as, expenses related to foods, drinks, and transportation, as well as accommodation and restaurant expenses)
Forecasting Methods
Quantitative Time-Series
Analysis
Qualitative Time-Series
Analysis
Press Reports, Industry Expertise,
Expert Assessments etc.
Causal Processes
Regression Analysis
Trend Projections
Second-Order Statistical
Smoothing
Moving Average Analysis
Multiplier Analysis
45
Overview of all 43 U.S. Industry Reports on statista.com/industry-reports (1/3)
Appendix
Manufacturing: Fashion & Textiles (NAICS 313-316)
Manufacturing: Chemicals (NAICS 325)
Manufacturing: Printing (NAICS 323)
Agriculture, Forestry, Fishing & Hunting (NAICS 11)
Construction (NAICS 23)
Manufacturing: Food (NAICS 311)
Utilities (NAICS 22)
Manufacturing: Beverages (NAICS 3121)
Manufacturing: Automotive Industry (NAICS 3361-3363)
Wholesale Trade (NAICS 42)
Manufacturing: Electrical Equipment & Supplies (NAICS 335)
€ $
Manufacturing: Computers & Electronics (NAICS 334)
Manufacturing: Machinery (NAICS 333)
Manufacturing: Pharma-ceuticals and medicine (NAICS 3254)
Manufacturing: Plastics & Rubber (NAICS 326)
46
Overview of all 43 U.S. Industry Reports on statista.com/industry-reports (2/3)
Appendix
Retail: Drugstores (NAICS 446)
Retail: Furniture (NAICS 442)
Retail: Building, Home & Garden (NAICS 444)
Retail: Food & Beverages (NAICS 445)
Retail: Consumer Electronics (NAICS 443)
Publishing1
(NAICS 511)
Transportation: Trucks (NAICS 484)
Warehousing & Storage (NAICS 493)
Retail: Gasoline Stations (NAICS 447)
Retail: Sports, Hobbies, Books & Music (NAICS 451)
Retail: Fashion (NAICS 448)
Transportation: Air (NAICS 481)
Retail: Car Dealers (NAICS 441)
Transportation: Water (NAICS 483)
Transportation: Rail (NAICS 482)
47
Overview of all 43 U.S. Industry Reports on statista.com/industry-reports (3/3)
Appendix
Data Hosting & Computing (NAICS 518)
Insurance (NAICS 524)
Banking & Finance (NAICS 521-523, 525)
Rental & Leasing (NAICS 532)
Real Estate (NAICS 531)
Restaurants & Nightlife (NAICS 722)
Waste Management & Recycling (NAICS 562)
Health Care (NAICS 621-623)
Education (NAICS 61)
Accommodation (NAICS 721)
Amusement, Gambling & Leisure (NAICS 713)
Telecommunications (NAICS 517)
Motion Pictures, Music & Television (NAICS 512, 515)
Overview of all 41 UK Industry Reports on statista.com/industry-reports
Appendix
48
Agriculture, Forestry & Fishing (SIC A)
Energy Supply (SIC 35)
Retail: Sports, Toys, Books & Music (SIC 47.6)
Telecommunications (SIC 61)
Manufacturing: Food (SIC 10)
Waste Management & Recycling (SIC 38)
Transportation: Land (SIC 49)
IT- & Information Services (SIC 62, 63)
Manufacturing: Beverages (SIC 11)
Construction (SIC F)
Transportation: Water (SIC 50)
Banking & Finance (SIC 64)
Manufacturing: Fashion & Textiles (SIC 13, 14, 15)
Car Dealers (SIC 45)
Transportation: Air (SIC 51)
Insurance (SIC 65)
Manufacturing: Chemicals (SIC 20)
Wholesale Trade (SIC 46)
Warehousing & Storage (SIC 52)
Real Estate (SIC 68)
Manufacturing: Pharmaceuticals (SIC 21)
Retail Trade (SIC 47)
Postal & Courier Services (SIC 53)
Rental & Leasing (SIC 77)
Manufacturing: Plastics & Rubber (SIC 22)
Retail: Food & Beverages (SIC 47.2)
Accommodation (SIC 55)
Travel Agencies & Tour Operators (SIC 79)
Manufacturing: Computers & Electronics (SIC 26)
Retail: Petrol Stations (SIC 47.3)
Restaurants & Nightlife (SIC 56)
Education (SIC 85)
Manufacturing: Electrical Equipment (SIC 27)
Retail: Consumer Electronics (SIC 47.4)
Publishing (SIC 58)
Health Care (SIC 86)
Manufacturing: Machinery (SIC 28)
Retail: Building & Home (SIC 47.5)
Motion Pictures, Music & Television (SIC 59)
Arts, Entertainment & Recreation (SIC R)
Manufacturing: Automotive Industry (SIC 29)
49
Overview of Statista services
Statista – Much more than a statistics portal
Statista.com
Corporate Publishing & Infographics
Statista Research & Analysis
+ +
˃ Tailored research and analysis service provider
˃ Over 50 business analysts
˃ Market reports, analysis and monitoring for various industries
˃ Professional quantitative and qualitative market research
˃ Leading statistics portal
˃ Over 1,000,000 data points on 80,000
topics from >18,000 sources
˃ Industry reports, dossiers, study
database
˃ Provides forecasts for 500 industry
sectors and 50 countries
˃ Own graphic design and editorial team with more than 10 specialists
˃ Production of tailored infographics for corporate publishing purposes
˃ Programming of online dashboards and interactive websites
Appendix
50
The quality of a consulting firm at the price of a research agency
Statista Research & Analysis service portfolio
Market analysis & forecasts
(Market) research
Studies & rankings
Statista as a Service (StaaS)
Corporate publishing
˃ Various qualitative and quantitative primary market research methods
˃ Online surveys, focus groups and expert interviews
˃ Concept > survey design > fieldwork > analysis > presentation
˃ Cross industry market and competitor analyses (market entry, market potential, etc.)
˃ Data modelling and forecasting
˃ Identification of target customers, markets, or M&A targets
˃ Benchmarking studies (customer service, mobile application features, etc.)
˃ Sales and industry studies (e-commerce, energy providers, etc.)
˃ Rankings and industry player top-lists (best employers, best consultants, etc.)
˃ Individualized corporate publications based on facts & figures
˃ Interactive online dashboards and graphics
˃ Infographics in various different formats
˃ Customized enterprise Statista-portals
˃ Knowledge management for your studies and data / statistics
˃ Full service evaluation, upload and visualization of your data
Appendix
51
Please contact us – we would love to find a solution for you
Niels Terfehr Director Research & Analysis Telefon: +49 (40) 2848 41 - 852 E-Mail: [email protected]
You can find our service portfolio, project examples and studies at: www.statista-research.com
Appendix
52
About Consumer Market Outlook
› 40 countries
› Direct access & downloads
› 11-Year coverage: 2010– 2020
› Revenue & volume forecasts
› Revenue & volume per capita
› Comparable data
Exclusive part of the Statista Corporate account
Access to more than 1,000,000 statistics and all consumer markets
information
17 consumer markets with 155 product segments Details
more information more information
Appendix
Alcoholic Drinks
Non-Alcoholic Drinks
Hot Drinks
Food
Tobacco
Home and Laundry Care
Cosmetics and Personal Care
Tissue and Hygiene Paper
Clothes
Shoes
Eyewear
Accessories
Toys and Games
Consumer Electronics
Household Appliances
Furniture Passenger Cars
53
About Digital Market Outlook
Connected Car
Connected Hardware, Vehicle Services, Infotainment Services
eTravel
Online Travel Booking, Mobility Services
eServices
Event Tickets, Fitness, Dating Services, Food Delivery
FinTech
Digital Payments, Business Finance, Personal Finance
Smart Home
Home Automation, Security, Home Entertainment, Ambient Assisted Living, Energy Management
e-Commerce
Fashion, Electronics & Media, Food & Personal Care, Furniture & Appliances, Toys, Hobby & DIY
Digital Advertising
Banner Ads, Video Ads, Search Ads, Social Media Ads, Classifieds
Digital Media
Video-on-Demand, Digital Music, Video Games, ePublishing
eHealth
Diabetes, Hypertension, Heart Failure
9 Markets, 34 segments & 85 sub-segments Details
› 50 countries
› Direct access & downloads
› 7-Year coverage: 2015 – 2021
› Revenue forecasts
› User count & penetration
› Comparable data
Exclusive part of the Statista Corporate account
Access to more than 1,000,000 statistics and all digital markets
information more information more information
Appendix
Released: Imprint Statista Ltd. ▪ Hudson House, 8 Tavistock St ▪ London WC2E 7PP ▪ +44 (0)20 3709 9960 ▪ www.statista.com Disclaimer Statista Ltd. shall not be liable for any loss, injury, claim, liability, or damage of any kind resulting in any way from (a) any errors in or omissions from the Statista Ltd. industry report(s) or any Materials available or not included therein, (b) the unavailability or interruption of the Statista Ltd. industry report(s) or any features thereof or any Materials, (c) An Authorized User or Member's use of the Statista Ltd. industry report(s), Online Services, or Materials, (d) the loss or corruption of any data or equipment in connection with the Statista Inc. industry report(s), (e) the content, accuracy, or completeness of Materials, all regardless of whether you received assistance in the use of the Statista Ltd. industry report(s) from a Covered Party, (f) any delay or failure in performance beyond the reasonable control of a Covered Party, or (g) any content retrieved from the Internet even if retrieved or linked to from within the Statista Ltd. industry report(s).
AUTHORS, IMPRINT, SOURCES AND DISCLAIMER
E-Mail E-Mail
June 2017
Mr. Volker Staffa studied Business with focus on Logistics and Supply Chain Management in Hamburg and Rhode Island. Before working as an Analyst at Statista he gathered experience in the aviation industry, working for the German Air Traffic Control and Lufthansa Technik.
Volker Staffa
Analyst
Ms. Ksenia Striapunina studied Business with focus on Finance in Hamburg and Engineering Management in Perm. Before working as an Analyst at Statista she gathered experience in telecommunications, working for ER-Telecom and T-Systems Multimedia Solutions and in financial markets, working as a consultant.
Ksenia Striapunina
Analyst
Released: Imprint Statista, Inc. ▪ 55 Broad Street, 30th floor ▪ New York, NY 10004 ▪ +1 (212) 433 2270 ▪ www.statista.com Disclaimer Statista, Inc. shall not be liable for any loss, injury, claim, liability, or damage of any kind resulting in any way from (a) any errors in or omissions from the Statista, Inc. industry report(s) or any Materials available or not included therein, (b) the unavailability or interruption of the Statista, Inc. industry report(s) or any features thereof or any Materials, (c) An Authorized User or Member's use of the Statista, Inc. industry report(s), Online Services, or Materials, (d) the loss or corruption of any data or equipment in connection with the Statista Inc. industry report(s), (e) the content, accuracy, or completeness of Materials, all regardless of whether you received assistance in the use of the Statista, Inc. industry report(s) from a Covered Party, (f) any delay or failure in performance beyond the reasonable control of a Covered Party, or (g) any content retrieved from the Internet even if retrieved or linked to from within the Statista, Inc. industry report(s).
AUTHORS, IMPRINT, AND DISCLAIMER
