Small Specialty Retail Stores in the US - Industry Market Research Report

Small Specialty Retail Stores in the US - Industry Market Research Report

  • March 2020 •
  • 36 pages •
  • Report ID: 198946 •
  • Format: PDF
Grand design: Tough external competition is expected to precipitate revenue decline

Abstract

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. Over the five years to 2019, 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 the five years to 2024, industry revenue is forecast to decline. IBISWorld anticipates consumer spending will rise while consumer confidence is expected to decrease. Consequently, increasing levels of discretionary spending will focus on price over specialty. Furthermore, industry participation is expected to expand at a much slower rate. Underperforming companies are expected to exit, while the few large companies are expected to acquire smaller ones. Additionally, tough external competition and the rising popularity of online sales are expected to reduce the industry’s share of the overall retail sector.

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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